Six Strategies for Indian Retailers to enhance their Profitability

The Indian retail sector has seen a high growth over the past decade with an emerging trend towards organized retail formats. The organized retail sector has today reached a share of 8-10% from an initial penetration of 2-3% a decade ago. There are multiple factors that have pushed the growth of Indian retail sector such as strong and robust economic growth, increased retail spending, growth in product categories that are retailed and emergence of innovative distribution channels such as smartphones. In such a powerful growth environment, it becomes critical for players to understand best strategies for higher profitability in Indian retail industry:

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Figure 1Six Strategies for Indian Retailers to enhance their Profitability

  1. Customers are king

The first critical step towards enhanced profitability in retail begins with addressing the needs of consumers. Since consumers vary by region, state and street, it becomes critical to understand local market dynamics and accordingly arrange product assortments in an online or offline store, so that their diverse needs are met. It may be a good idea to hire a chief consumer officer whose job is to continuously understand and address the needs of customers.

  1. Unique value proposition

In a highly competitive market segment, it makes sense to position your brand with a differentiated value offering. Retailers that design a unique value proposition which sets them apart from the competition multiply their chances of survival in the fierce competition. In order to develop a consumer centric value proposition, it is logical to analyse customer feedback about your brand, and then devise strategies to serve them better. Innovative ideas should form the basis of your value proposition strategies.

  1. Customer experience matters

Retailers need to merge online shopping experiences with offline in store experiences so that each customer touch point is attractive. Some of the key strategies for a seamless customer shopping experience include effective inventory management, an integrated sales and operations planning process, multi-modal transportation networks, and training of staff for various management activities.

  1. Let data decide for you

Retailers need to harness the power of data analytics to take critical business decisions. Digital analytics provide useful insights to retailers for marketing, supply chain management and customer experience. Knowing who your customers are, what they need, and how the entire retail chain works makes you a smarter player. Remember, analytics is not a one-time feature. It needs to be continuously explored for customer preferences that keep changing with time.

  1. Invest in technology

An intelligent retailer understands that the only way to stay ahead of the competition is to keep investing in new technology. It is good to take bold risks, but one should always have a back-up plan ready for an unforeseen failure. It is understood that technology has a small shelf life, but continuous contact with customers is expected to me more effective than blanket marketing.

  1. Protect your reputation

When you run a business in a digitally charged environment, you are also exposed to potential risks of such technology. Be it social media or potential website hacks, you need to be vigilant about your digital assets.

These powerful strategies can definitely change the game for your company in a highly competitive retail sector in India.

 

How To Get AADHAAR Card for Your Kids

How To Get AADHAAR Card for Your Kids

Image Source: iaspaper com

Aadhaar Card number refers to a 12-digit unique number provided to the Indian citizens by the Unique Identification Authority of India (UIDAI), a central government agency. Apart from adults, now parents can get the Aadhaar number for their children too. However, parents should have a valid birth document of their kid while applying for Aadhaar card.

Parents need to reach any Aadhaar card facilitation centers spread all across India to get their kids enrolled to the nation’s UIADI scheme. A kid has to attain 15-year of age before his parents can apply for his or her Aadhaar Card with biometric details intact. Aadhaar cards for kids can also be issued without biometric details for kids below 15 years of age.

Important Documents for Parents

#1) Parent’s identity card and proof of address are necessary while enrolling their child for an issue of an Aadhaar card.

#2) The birth document of the child such as the birth certificate.

#3) Parents should also present their Aadhaar Cards while enrolling their child for the scheme.

In some rare cases, parents may need to get Aadhar card for their little ones below 5 years. In that case, only the demographic details of the parents of these kids will be sought. Biometric details tend to change frequently after 5 years. So, occasional updates might be required after 10 years.

Advantages of Aadhaar Card for Children

One time registration. The number would stay same for a lifetime.

Parents of kids from 6 months to 5 years can apply for Aadhaar card.

It may require biometric data updation after a few years. Until, the child turns 15.

In current times, Aadhaar card has emerged out as the most important document. It serves both as a POI (Proof of Identity) and even POA (Proof of Address) in some cases.

Everyone is entitled to one Aadhaar Card only irrespective of his or her age or gender.

Applying for an Aadhaar Card for Your Kids: Complete Procedure

1) Log on to UIADI official website. And open the registration link.

2) Fill in the forms carefully furnishing every detail that it asked from you.

3) Fill demographic details such as the full address, location, state and etc.

4) Select “Fix Appointment” button. It would allot you an Aadhaar card enrolment center with a date of an appointment.

5) Reach the Aadhaar center on the date of an appointment. Keep original document of your proof of address and identity.

6) The person at the Aadhaar Center will verify all documents of the parents.

7) If the child is 5+ years, then his biometric details will be taken. If not, it’s not required.

8) You will be given an acknowledgement number and slip as a proof of your application.

9) You will receive an SMS indicating whether your application was successful or not.

10) If your application was successful, you will receive the Aadhaar Card for your kids within the next 60 days. If it was rejected then you have to resubmit again with updated information.

The Demand of Separate Statehood

tipra1 Image source: thenortheasttoday.com

As cited by administrators, creating a separate state is an enunciation to a better judiciary and administration.

Although creating a separate country is based on different science altogether. Considering a recent example of Scottish referendum, the Scots being a separate country but falling in the jurisdiction of UK voted NO because many were afraid of how an independent Scotland might change their day-to-day lives. While the ‘Yes’ camp’s case for independence attracted millions of voters, the task of building a workable, independent nation proved too daunting for many.

In India we have too many examples were the separatisms has prevailed due to various reasons. Lets us not drag J & Kashmir in this issue as it has a different history all together.

(AFSPA) in 1958 to put down separatist movements in certain parts of the country when insurgency occurred in North East India in Manipur, Nagaland, Meghalaya, Mizoram, Tripura. The more important issue with these states however is territorial dispute with neighbours such as Pakistan and the PRC, rather than independence from the India.

The law was first enforced in Manipur and then also in other insurgency-ridden north-east. It was extended to most parts of Indian-administered Kashmir soon after the outbreak of armed insurgency in 1989.
The soldiers are immune to law against prosecution unless the Indian government gives prior sanction for such prosecution. The government demands that the AFSPA is necessary to restore normalcy in regions like Kashmir and Manipur. The situations in these have always been highly sensitive, we have also noticed oppressions from the people, especially the brave Iron Lady of Manipur, Irom Sharmila and then the inhumane case of Thangjam Manorama which lead to a huge and nationwide fruitless protest.

Nagalim(Nagaland)
Tripura
Khalistan(Sikh Country)
Bodoland (Assam)

Are a few examples were insurgency for a separate country arose in the past. Also Dravida Nadu (Dravidian speaking) people rose to create a separate country for the speakers of Dravidian Language with the support of the local political party DMK.

It would be wrong to assure that such insurgency may not occur in the future because India is a politically driven country, with countless languages and incredible diversity. Language, religion, caste are a few reasons that initiate such extremism.

We must look into North East, even today we experience cases of these people coming to other states for for education and jobs and being killed due to language barriers and non identical reasons (Bangalore,Delhi)

It is somewhere our fault that leads to such incidents. Weather or not it is bound to happens again in our country, we must realise the fact the diversity is a boon and a curse to the nation. Defending this country we must strive hard to respect each other and if we can, we must go out of our way to offset this common sense of inequality because the only way we can succeed in becoming a first world nation is by understanding the strength of this diversified nation and promoting the idea of egalitarianism.

Who will Win UP Elections?

Chandigarh-MC-Election-Results-2016-Ward-Wise-Winner-List-Name-Live-UpdatesImage sorce: youthcorner.in

All signs point that the Uttar Pradesh elections will be held in February, so the time is not far when battle in the biggest Indian state election will kickoff to choose a new chief minister.

Rita Bahuguna, a long term Congress confidante recently joined BJP, the party at the Center, before the Uttar Pradesh Vidhan Sabha elections. It showed that the power shift in the upcoming elections has taken a toll on all major party candidates who have aligned with BJP as the party is betting big on winning the elections and proclaims that they will form the government in UP in 2017.

The incumbent Samajwadi Party(SP) claims that there is no match to Akhilesh Yadav in Uttar Pradesh and the BJP as well as the Congress do not have any strong candidate for the Chief Ministership. This, they say, is clear enough through the constant poaching that the BJP is doing in the state. About Congress, SP spokesperson Gaurav Bhatia said, “Congress is a non player in the state of Uttar Pradesh, with no leaders at all.”

What cannot be ignored is the family war going on in the incumbent Samajwadi Party, which is evident from the tussle between Akhilesh Yada and rejoined long term party associate Amar Singh. Akhilesh and his uncle Shivpal Yadav are too at loggerheads at the distribution of ticket to the candidates.

Political analyst Neerja Chowdhury said in a debate that Akhilesh Yadav has a positive image in the state, but the ongoing conflict in the family has sent divisive signals to the people of Uttar Pradesh. She also said that Rita Bahuguna has been responsible for Congress in the State and so is responsible for the current fiasco of Congress in UP. Rita’s move from Congress has also sent a message that the Congress has little chance to recover in the foreseeable future.

To the fact that BJP hasn’t yet declared any chief ministerial candidate in Uttar Pradesh portrays the lack of a strong people’s leader in the party. To this Sudhansu Trivedi said that historically, the BJP projecting a leader in the state has not always received benefits, thus it is the leaders who decide to declare a leader and when to do so.

Union Home Minister Rajnath Singh is a leader who has leverage in the state, yet BJP has refrained from projecting him as the Chief Minister, yet.

Overall, BJP hasn’t yet shown its cards and there is no visible mandate for any particular party. The election war in Uttar Pradesh will be a test for all political parties and especially for BJP.

Why Pakistan named the Indian cyclone

Recently cyclone Vardah swept the Indian southern State of Tamil Nadu in which 18 people lost their lives along with widespread destruction of the green cover and infrastructure. Many livelihoods were uprooted and squatters displaced.

The name ‘Vardah’ means red rose in Urdu and was suggested by Pakistan. According to a report by the Indian Meteorological Department, through suggestions of several countries a comprehensive list of names of cyclones in the 1900s was formed. It was decided that the names would be feminine and that they would be in alphabetical order as the year proceeds. Later masculine names were given to the cyclones formed in the Southern Hemisphere.

The reason for such names were that they were easier to remember and identifiable for the general public.

The list was formed by eight countries – Bangladesh, India, Maldives, Myanmar, Oman, Pakistan, Sri Lanka, and Thailand, and covers the Bay of Bengal and the Arabian Sea.

If anyone wants to suggest a name they can write to IMD’s Director General of Meteorology.

So as to help quick identification of tropical cyclones, the system of naming began; it also makes it easier for media to report about the storm. It’s also easier to remember these names as compare to technical terms and increases preparedness.

How does the naming happen?

E.g. If a storm is names Antara, beginning with letter A, then that means that storm is the first to occur in that year. These names are maintained by the National Hurricane Center. Before 1900, the forecasters used male names for southern hemisphere cyclones, later on the names were taken from the lists by the hurricane center.

The names are updated and maintained by the World Meteorological Organization.

Below are the list of names and the pattern in which the names are written. The name Vardah also is mentioned in the list. You can check which name will be used next time any cyclone hits the Indian Ocean.