YRC is a Management Consulting Company with head office in Pune, India. We work across 03 verticals, Startup, SME & Corporates. Our expertise lies in developing Standard Operating Procedures (SOPs) for companies and helping them organize and expand. We have a cumulative experience of more than 15 years. Our holistic approach helps us to devise the best of the management practices for the organization.
How to start an Online Jewellery Business? Online Niches, Stats, & Steps every entrepreneur must know !!!
Wearing jewellery is no longer restricted to women alone, times have changed and there is increasing demand amongst men to buy jewellery both online and offline. Currently, jewellery and accessories make up to 29% of the global internet purchases, according to Statista. In addition, according to the latest estimates, global online jewellery sales are going to reach a market value of $340 billion by 2023 and an incredible $645 billion by 2035.
Such healthy growth figures are encouraging many wannabe entrepreneurs who seek to sell jewellery online as a valid business. But venturing into the business without adequate knowledge and planning is a recipe for disaster. This blog is meant for readers who are convinced about the business potential of selling jewellery online but are on the lookout for more information and clarity. Rise of Dark Stores in Asia. There is no escaping the reality now.
As preventive actions continue to be enforced by governments across the globe, commuting has been abandoned for work from home facilities. This drastic change due to the pandemic has been imbibed into all of our lives last year and to say, one of the many biggest knock-outs, as a consequence, has been that people are now shopping differently. Amidst market disruptions and unprecedented economic slowdown, the role that grocery retailer’s play in our daily lives has been re-clarified. In order to understand the shift in consumer behavior, spending and expectation Mckinsey conducted a survey with more than 5,000 consumers in Asia, across seven countries: Australia, China, India, Indonesia, Japan, South Korea, and Thailand.
There’s no doubt that the pandemic has opened new opportunities – let’s take a look: What is a Dark Store? Future of Grocery Dark Stores in India. Dark Stores meaning The future of the post-pandemic retail ecosystem, dark stores are essentially traditional retail stores or supermarkets converted into eCommerce warehouses or local fulfillment or distribution centers.
Dark stores can exist in the form of grocery, apparel, footwear, consumer durables, and home goods retailers. Innovative Supermarket Business Models. There was a time when analysts thought that the accelerated growth of e-commerce might put an end to retail as we know it.
Fast-forward to 2021, and there seems to a twist in the tale, with e-commerce powerhouses like Amazon and Alibaba making their foray into brick-and-mortar stores that are operating parallelly with their online operations. This renewed focus to offer an omnichannel experience has become a common theme among established e-commerce companies that seek to provide a better customer experience with a presence in both online and offline channels. For investors, the traditional models of retail are no longer exciting and most of them have their focus on the burgeoning e-commerce industry where all the action is.
This blog is an attempt to articulate the two approaches by two e-commerce giants that have captured the imagination of both the customers and future entrepreneurs. How to Choose an e-commerce Business Model that works in 2021? The success of e-commerce all around the world has caught the attention of entrepreneurs who are keen on creating their own online businesses.
But an e-commerce business model is not the proverbial “bed of roses”, it does take a fair bit of planning and sharp execution to become established as a solid e-commerce brand. Every year there are numerous online businesses launched but only a few of them managed to break even and sustain themselves in the long run. What separates successful businesses is their foresight in seeing the challenges that lie ahead. What is Personalization in E-Commerce? How is it helping to create a competitive edge? - Retail-Business-Management.over-blog.com. Ecommerce has been a game changer for the past few years.
It has been around and has proved to be a success tool for businesses. Within the global economy it has become a vital business tool for business and economic growth. E-commerce is the catalyst for business growth as it helps reduce costs, offers better marketing opportunities, helps your business go global and most important, helps you build and retain your customer base. Newer technologies have expanded the horizons of the e-commerce industry and personalization of e-commerce has now become a very essential need of the hour.
What do we understand about the personalization of e-commerce? The B2B industry has realized the importance of e-commerce personalization as it provides ample benefits. As businesses realized the need to create personalized and unique customer connect concepts, the need to personalize the e-commerce websites emerged. Start a Mini Supermarket. How to Start a Hypermarket in India? Buy Online Pick-up In-Store (BOPIS) What is BOPIS? The growth of e-commerce as a domain has meant that customers have also become demanding when it comes to receiving services. Most expect e-commerce brands to deliver at a low or “no” shipping cost - FMCG. Equipment and Supplies needed before Starting an Online Grocery Store by Your RetailCoach.
How to start a Mini Supermarket - YourRetailCoach. Shopping for essentials will always be a major priority for everyone.
It can be vegetables, milk, bakery items or shopping for daily items like hand-wash the shopping list is inseparable from our daily lives. PUNE, India - Jan. 12, 2021 - PRLog -- Earlier we used to visit separate shops to buy different items. But with changing times the shopping pattern and demands changed. Today we have departmental stores and supermarkets catering to our daily essentials shopping requirements where we can buy all goods under one roof without roaming from one shop to the other. Techniques to Improve Retail & E-commerce Warehouse Management. A solid warehouse operation is fundamental to the success of a retail brand.
It could either adversely affect the brand goodwill or propel it to newer heights backed by customers’ trust. According to an available study, 80% of respondents ranked shipping cost and speed to be “extremely critical” in deciding where they shopped, followed closely by the price factor. This makes warehouse management vital to the sustenance of a retail brand. 7-11 Convenience Stores - A Case-Study. Background: 7-11 stores were started in Dallas, Texas (USA) and was known as Totem Stores from 1928 to 1946.
Later, a majority stake was bough over by a Japanese company named Ito-Yokado in 1991. From there on it was reorganized as a completely owned subsidiary of Seven-Eleven Japan Co. Ltd. Currently, the convenience store chain operates 71,000 stores across 17 countries. Market Research Report - YRC. Anyone with plans of starting an online venture should be equipped with a business plan and within it – market research for online business is a critical component determining the viability of the product or service.
This exercise is carried out through with various technical research tools. Market research companies helps startups discover its target market based on interest, opinion and demand about the product from its potential customers. Apart from this, it gives insights about competitors and their market approach. This makes market research an exercise that cannot be ignored because of the value and insights it offers to online entrepreneurs before investing their time and money into the idea. Key Insights & Blueprint on: How to make a Business Plan? The blueprint to start your business project or venture, creating an effective business plan is necessary to chart out the process roadmap of any organization. What is a Business Plan? A Business Plan can be defined as any document which identifies, describes, and analyses the techno-economic and financial feasibility of a startup or an already existing business.
A well written business plan seeks to create and establish all processes and strategies necessary to turn any business opportunity into a viable project, and also to propel existing business entities into an upward growth trajectory. The following are some simple business plan examples: How a Robust Business Plan helps Retail & E-commerce Business. More often people tend to have the impression that a business plan is more geared towards securing capital from investors to start a business. But this is only an aspect which gets spoken about which misses the larger picture. A business plan can be called a guiding document that covers an entire gamut of subjects associated with the business. In technical terms, it is a document that establishes the goals and the methods that shall be employed in accomplishing goals by a business. Going further, it identifies a future business opportunity or an existing business by identifying, describing, analysing and examining its technical, economical and financial feasibility.
Retail sales SOPs. In recent years, retailing hasn’t been easy, especially during this pandemic period. Moreover, many retail store activities have been disrupted by the rise of e-commerce, such as the behemoth Amazon. It is, therefore, vital that today’s retail operations professionals adapt to address that challenge. The key to success-in stores or online-lies in superior customer service, both today and in the future, as the retail sales professionals say it. Each company came with a distinctive style of management. And so are the retail outlets.
Dairy & Milk Industry Business Consulting. Dairy Industry With the widespread demand for milk products and their constructive role in the global food industry, milk products play a crucial role in the growth of the world’s economies. Over the years, by specialization, modernization, and restructuring, the milk industry has seen improvements in food protection. Moreover, the sustainability of dairy farms has also been affected by developments in global trade. Milk and dairy products have a leading role in the global market for food products. Probably the most competitive and unpredictable agricultural commodity market is fuelled by global dairy processing. Dairy Industry Market Drivers One of the key factors supporting market growth is the increasing demand for milk and milk-based ingredients. Business Plan Writing Services, Consulting & Planning Company. Direct to Retail (D2R) Direct to Retail (D2R) has emerged as a game changer in recent times, churning up the entire retailing landscape.
How SOPs will Benefit Wholesale Brand Venturing into Retail. Wholesale businesses reaching out to the retail space should be seen as an aggressive; growth-oriented strategy. 5 Reasons to Develop SOPs for Restaurants - Part II. 5 Reasons to Develop SOPs for Restaurants - Part I. On a lighter note, restaurants and marriage parties are remembered for the food. However, if a restaurant wishes to build for itself a strong reputation and create customer delight, it has to go beyond food and also focus on its service and environment.
Business Opportunities in Small Towns. In a vast country like ours, population distribution is highly dispersed. The small towns, which include the class IV & V towns, constitute more than 10% of the urban population and close to 50% of the total number of towns. In terms of numbers, the total population in small towns roughly stands at 3.77 crores spread over approximately 4000 town locations. Achieving Double Digit Growth in Retail. According to IMF World Economic Outlook (Oct 2016), India is the fourth fastest growing country with its GDP projected to accelerate at 7.6% (2016) (1) and pegged at an estimated value of INR 121.65 lakh crores (2). The quickly evolving retail industry in India constitutes over 10% of the country’s GDP making it a prime attraction for foreign investment.
India’s retail sector ranks fifth in the list of favourite global destinations for foreign investments. From US$600 billion in 2015, India’s retail market is estimated to reach US$ 1 trillion by 2020. The domestic retail market is expected to grow at 12% p.a. (3). Given the favourable statistics, it may be imperative to ask – can retail businesses in India be a part of this joyride and grow proportionately or beyond? 5 Most Powerful Reasons Why you need Digital Marketing in 2017. Digital marketing refers to the use of digital platforms or channels to promote and advertise brands, products, services, offers etc. with a broader goal of establishing a connection with the targeted customers and market segments. Popular platforms for digital marketing include websites, apps, blogs, social media, video streaming sites and so on.
Various strategies have emerged over the years to extract the most out of digital marketing and the best ways it could be put to use. These strategies include SEO (Search Engine Optimization), content marketing, affiliate and native advertising, social media marketing, pay-per-click and pay per view advertising and so on. Basics Before Starting a Business (Part- I) With an economy that continues to grow at a promising and blistering rate, coupled with favourable demographical shifts and suitable policies and regulation, India is riding high on the startup wave.
But unfortunately, 90% of the startup enterprises fail within the first five years (1). Therefore, it is also very important that startup business enterprises get off on the right foot. Big Data, Big Data Retail, Big Data Companies India. How Retail Analytics has given a new dimension to Marketing. Change Management in Family Business. Change Management in Business. Evolution of Malls in India. Supply Chain Strategy for Grocery Business. Why Starting a Grocery Business is profitable during COVID-19? Customer Service SOPs. Online Grocery / E-Grocery. Dark supermarket. Starting a Supermarket: Your Retail Coach’s 7-Step Winning Formula. YOUR RETAIL COACH — Marketing Strategies for FMCG/ Grocery Business. Let’s "Go Digital" initiative by YRC - Retail-Business-Management.over-blog.com. What is the Dark Store Theory? How SOPs can Reduce Cost & Increase Productivity. What are CSFs and KPIs? How will it help to achieve business excellence?
Marketing Strategies for Retail & Online Grocery Businesses by Your RetailCoach. Building the Foundation of a Powerful Retail Chain Brand. Home Delivery by Restaurants to Generate more Revenue. Building your Digital Business with the Right Basics. Let's explore digital transformation in retail industry. How SOPs can help Increase Revenues of eCommerce Business. Ways to Start and Grow eGrocery Business. O2O Strategy: The Next Game-Changer in eCommerce? Experience of visiting an IKEA Store in Dubai. What you Should Look for Before Hiring a Digital Marketing Agency? Use of Retail Automation Solutions in Post Lockdown World. How Retail can Adopt Digital Transformation. Ways to Start and Grow E‐grocery Business.
Must-do things for e-Startups. How to Start Online Grocery Business? Tips, Techniques, and Practices to Increase Retail Sales. Home Delivery Service as a value-added Service for Grocery Stores. Franchising May Help Businesses Overcome the COVID Slowdown. Digital Marketing for Online Grocery Business. How Digital Marketing can help to Grow Supermarket Business? How Do I Start A Fashion Apparel Business? How to do visual merchandising for your retail store. Role of eCommerce Strategy Consultants. Expanding your e-commerce Business to Dubai - 5 Important Considerations. How to Write a Business Plan for an eCommerce Business. Expanding eCommerce Business to the GCC/UAE Market. Planning for eCommerce Business Expansion to Dubai. Ways to Enhance Customer Journey in Luxury Furniture Retail. How to Grow your Supermarket Business? 10 Steps to Start a New Supermarket / Grocery Store.
Ecommerce Business Consulting, Ecommerce Consulting Services. Enter Retail - Set Up Retail Store. Enter Retail - Setup Ecommerce Business. Standard Operating Procedure Consulting. SOP for Retail Business, SOP for Retail Store Management, Warehouse SOP. Franchise Development Business Plan. Ecommerce Consulting, Ecommerce Online Business Consulting. FMCG Consultants, Online Grocery and Supermarket Consulting.
Furnishings Business Consulting. Apparel Industry Business Consulting. Business Consultant, Business Consulting Services, Retail Consulting. A Global Chemical Industry Leader opens first-ever "Direct-to-consumer" retail store in India. Top Retail Outsourcing Companies in India. Best country for Ecommerce Outsourcing and why? The Big Indian Online Retail Market.
Setup Cloud Kitchen / Dark Kitchen, Cloud Kitchen Consultants. Enter Retail - Set Up Retail Store. Set Up Dark Store, Start an Online Delivery Business, Dark Store. Enter Retail - Setup Ecommerce Business. SOP for Retail Business, SOP for Retail Store Management, Warehouse SOP. Digital Retail. Simple Free Tools which shall help to Organize your Business. How SOPs are helpful in e-commerce Business. Why Maximum Businesses Fail due to Mismanagement – Rupal. Things you should consider while setting up a Retail Store.