7 Features Local Retailers Must Possess To Compete With Retail Giants in This Era of Retail Industries

A Retail Store

 

According to the retailing sector report, the Indian retail industries is about one-tenth of the Indian GDP. This retail sector is one of the most important pillars of our Indian economy.

Now, the Indian retail sector is mostly comprised of local grocery or Kirana stores. These grocery stores are the backbone of our Indian economy. These stores know the exact mentality and shopping nature of Indian people.

Because of the unique bond they share with the local people, these local stores are still thriving among the giant e-commerce retailers.

These local stores have become a symbol of great importance for the common mass. As more & more Indians (sp. the youngsters) are opting for digital transactions, so these local stores must be equipped with digital media for transactions.

The retail industry is growing very fast. As a result, the retailers must also accustom themselves with the latest retail technologies to stay floating in this retail competition.

To dominate the retail market, a large number of retail agencies are trying hard to leverage them. But still, the big question remains- are these retailers are getting sufficient training to catch up with the current retail trends?

So, from the above sentences, it has become very clear that the local stores or retailers have to be trained very hard to perform digital transactions. Most of these retailers must be trained and re-skilled so that they sustain in this retail market.

Some of the most important skills these small retailers must be provided are:

  1. Training them to become highly tech-savvy:

 

Our retail market is highly unorganized. This retail sector is the bread and butter of more than 30 crore Indians. These retailers must become very efficient in online transactions.

Generally, the millennial and the younger generations love to do online transactions. They resemble these online payment modes whenever they have a shortage of hard cash.

This is the reason that most of these retailers have to be well equipped with a huge set of digital payment devices like retail POS systems, mobile banking, digital wallets like Paytm, Freecharge, UPIs etc.

  1. Well trained with the detailed knowledge of retail products:
Local Retail Store in India

Local Indian Retail Store

 

A local retail store is the central hub of a local area. If the retailer knows the behavior and mentality of its local consumers then no one can stop them from progress.

Do you want to know the exact thing which makes these local stores more unique than the supermarkets?

The fact which sets these local stores apart from the big supermarkets are the trust consumers imparts on them and how thirsty these stores are to achieve success in this retail market.

  1. They must sell local products as per the requirements:

 

To thrive in the present-day retail market, these local retailers have to sell goods which are much localized and can’t be found in the online retail aggregators.

These local retailers must try hard to become the lifeline of the entire locality. So, these local retailers need to know the present-day trends in the retail industry and have to know what products are in great demand right now.

  1. These retailers must be fluent verbally:

 

The way you present yourself in front of the people, determines your personality and character trait. They also have to remain very calm and quiet while dealing with angry and irritating customers.

This is the reason they have to be trained in soft and polite mannerism. These retailers must have immense patience while dealing with customers round the clock. The soft skills will help them to maintain good relations with their customers in remote urban areas.

  1. Retailers must have very good time managing skills:

 

A retailer must be very active while dealing with customers. They must be physically as well as mentally very strong. They have to maintain a huge amount of billings and perform inventory management throughout the day.

  1. The retailers must promote their products wisely:

 

The local retailers must try hard to become the brand of any product they sell. They must track how their products are getting sold. How a brand is becoming visible in the eyes of the customers matters the most.

The retailers must upgrade themselves from repetitive manual tasks like inventory management, stock keeping etc. to convincing customers to buy any products.

  1. They must diversify their business:

 

These local Kirana stores must explore other areas of this retail market. Let’s say, they can provide insurance to the sold products apart from providing discounts to the customers.

In this way, the Kirana retailer can compete with big retail giants by becoming a one-stop store for all the consumer needs.

Some Final Words

It has become very important to re-skill the local retail employees with digital transaction skills. The point is to make an imposing blend of innovation and long-lasting relation.