What exactly is RETAIL and why is everyone after it?

What exactly is RETAIL and why is everyone after it?

Retail is the last point which connects the buyer or the final consumer with the manufacturers product. It is the final destination where a placement of product matters the most. Visibility is most crucial here. in India they say, "Jo dikhta hai, wo bikta hai; meaning Whatever gets Noticed, gets Sold."

As the shelf space in a store is limited, there is a flurry between the manufacturers to score above one another and sell more. Everything counts, placement, quantity, front or back, with or without displays, discounts, offers, cashbacks, tie ups with banks, promotions with 3rd party vendors, cross selling, freebies, brand activations and what not..

There are different types of Retailing options available these days, brick and mortar stores, ecommerce, mcommerce, quick commerce, social commerce etc.

As Retail is the mainstay of any economy and contributes to more than 50% of almost all the economies, hence everyone wants to have a slice of it.

India is home to approximately 50 million retailers.   

The author is the Managing Director of an omni channel retailing startup lapalap.com and the views are his own.

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