reBLISS-Emerging Trends in India's Retail Market

1. Emerging Trends in India's Retail Market In India’s competitive retail sector, a landscape marked by industry leaders, constant evolution and progressive prophets are assured to navigate the complexities of challenges, trends and development prospects that may happen in 2024. In India, the retail industry is one of the biggest sectors that contributes more than 12% to its Gross Domestic Product (GDP). This sector is one of the fastest growing in the world, with an assessed value of USD 1.3 trillion in 2022. There is a continuous shift in customer behaviour, the development of new technologies and an increased significance of sustainability, providing an idea by which companies can understand the trajectory of the retail industry in the coming year. Companies need to build sustainable practices and innovative products to meet the advancement in technology and customer preferences.

2. Not only do these companies need to involve more strategies in their growth journey they also need to focus on evolving factors that help them grow their retail business. Some of the factors are – Advanced Technology That Helps Grow Retail Business in India:- In India’s retail industry, technology is the most important growth trend. For the past few years, retail businesses have incorporated advanced technologies to gain a competitive edge in the market. The technology is still evolving and trying to become more advanced in upcoming years. The main aim of retailers nowadays is to provide an excellent shopping experience to their customers via omnichannel strategies exploring 3 trends: Online Payment Modes Marketing Campaigns Lucrative Offers and Customised Communication Online payment mode has become a favoured means of transaction between retailers and consumers. This provides a better and quicker shopping experience for the consumer. Whereas retailers can remove long checkout lines that increase their sales and revenue. Improved Logistics Infrastructure for Retail Growth in India For retail businesses, logistics plays a very crucial role by providing an end-to- end supply chain. Retail businesses in India need reliable logistics processes that help empower them by providing on-time delivery and effective storage of their products. So, if you are planning to run the logistics operations effectively, consider various factors that ensure the same. It’s crucial to build an effective logistics channel for your company or partner with a logistics partner who can satisfy multiple aspects of the retail business. The effective logistics partner should be able to provide services to the retailer with:

3. Effective transportation network Well-maintained temperature-controlled movement and storage Good warehousing and storage facilities Effective delivery network with fulfilment centres Seamless last-mile delivery Government Policies for the Betterment of Retail Business in India Several nation-building initiatives have been taken by the Government of India that help the country in becoming a key hub for manufacturing, trade and other sectors. Conclusion:- The logistics industry is growing and for more growth, companies need to make more realistic plans aligning with emerging trends. Every employee in the company plays a pivotal role in taking the retail industry to greater heights. As a company, if you want a robust retail workforce, sign up on reBLISS - a work- providing platform.

4. Strategies to Boost Sales in Logistics:- In India, there is huge competition in logistics besides enormous growth opportunities. The Government comes with various policies to support the growth of Indian logistics. These policies are aimed at bettering logistics services, lowering costs and generating more revenues. Collaboration Between Marketing and Sales Strategies:- Not only for logistics, it's pivotal for all industries to kick start their business from basics. Whether it's a large or small logistics business, it’s essential to have collaboration between marketing and sales initiatives. This ensures that every lead coming into the business is effectively managed. In the initial phase, companies can use digital marketing plans such as social media to post relevant content and keep audiences engaged. This can be a great strategy to generate leads, promote the brand and offers, solve customers' queries and see what competitors are doing. Logistics businesses can also generate SEO-friendly websites to cement their digital presence. With the help of this, companies can promote their business and educate their customers. Prefer the Latest Technologies for Logistics:- If a logistics business wants to generate more revenue, it needs to leverage technologies. There are several large to small enterprises that are using technologies such as IoT sensors, GPS tracking, AI and machine learning, RFID, and more. This helps automate business, collect real-time data, estimate demand, and provide better services. All this ensures more sales and revenue for the business.

5. Clear SLAs for Sales:- Generating leads is important for businesses but making them regular customers and avoiding retention is more difficult. With happy and healthy customers, businesses can grow their sales targets beyond a point. So, start your SLAs by defining your sales process. Find channels for lead generation, tools for handling the leads, following up, negotiating, proposal discussions, and closure. Make a calendar for follow-ups on unsuccessful leads. Create a process for cross-selling and upselling to existing customers. Suggest offers, referral points, and discounts to customers. Train Sales Team for Effective Business:- The sales team plays an effective role in running a logistics business effectively. While all team members in your logistics company are not born with sales skills, some sales techniques can be taught. Engage your sales team by giving them regular training to ensure teams are up-to-date and aware of the market trends, customer requirements, and competitor initiatives. Wrap Up:- These are some effective strategies businesses can implement to boost their sales. Implementing best practices in their logistics business will grow their revenue. To run a business effectively, you require a dedicated team. It allows talents for several profiles such as sales executive, delivery partner, cashier and more. If your business needs any of these, you can contact reBLISS - a platform that connects businesses with professionals with diverse skill sets.