There are a number of issues that a retailer confronts during the journey from the establishment of a business to the initial steps to thrive in the market. It is not uncommon for retailers to look for assistance from the experts that could assist in conceiving a planogram or to work with data. The Indian retail market is highly complex due to the widespread geography and consumer preferences that vary by region. With the incorporation of newer methods of business data accumulation and processing, the need to find arrangements that meet the customer expectation has become unavoidable. Retail sector is not just about customer satisfaction and quality products, but it also has a huge impact on the ways in which each product are placed and arranged. A systematic control over product inflow and sales, reading against the sales per square foot, employee management, customer service, YOY growth, ROI etc. are essential to thrive in a market that meet competition at every second.
he strategy and managerial decision-making is commonly employed to conceptualise policies aiming at improving the competitive position of the firm. The strategic plan is designed to set out a vision, and provide proper guidance throughout the operations of the retail firm. A number of strategic analyses come in the way for carrying out a detailed environmental scan that identifies the trend and opportunities. This may include; market analysis, internal analysis, review of product mix etc. The retail market is ever growing and demanding nonretrogression to its faults, which thereby increase the scope for progressive future implementations. As for a retailer, it is important for them to remain relevant and alive with the retail services that will help to compete. Therefore, a distinguished panel consisting of CEOs, CIOs, CXOs, and analysts including CIOReviewIndia editorial team have evaluated the top companies in this bubble and shortlisted the ones that have set benchmarks in the way corporate treat and manage people.
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