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Created by : Nitin Dobre, Store Manager, WH Smith  | 08 12 2009 15:12:49 +0000
Industry : Retail Chain/LogisticsFunctional Area : Performance(Corporate Finance)
Keywords : retail impact slowdown
Activity:  128 views;  last activity : 07 06 2010 20:18:09 +0000
 
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I think slowdown have helped retail in a long run in certain manners:

1)Corrective actions are being taken by almost all the retailers

2)Importance of supply chain management, IT systems and DC have been realised

3)Focus have been shifted to make existing store profitable than opening new stores,Closing of unviable stores

4)Retailers have realised that too many formats wont be going to work

5)"Brands that have not understood their market would have learnt from that and will come back stronger" as quoted by Mr.Kishore Biyani, CEO Future Group.

6)Rentals have been reduced which were earlier 10-15% of Sales, rentals have been dipped by 20-50%, few malls have given up rebates for next 12 months to some tenants.

7)All coming up togather to increase footfall

8)Most of the retailers have understood that "Everything for Everybody" kind of target profile is not going to work any longer

9)Employees have been more produtive

There are some negative sides also like i lost the job offer where i was Placed but thats .00001% when compared to profit which our country ll be having after all this corrections

Thanks....


By Nitin Dobre, Store Manager, WH Smith  08 12 2009 15:12:49 +0000
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Exposure of mistakes during this slowdown has definitely helped the retail sector!! Your views are good and you have made the correct observations. I am sorry to hear that about your job, but maybe there is something bigger and better for you. Be patient and you will see the results of your patience.

I am also happy to note that you have chosen this platform instead of whiling time awy like some people at your age may do... I am glad and wish you the BEST!!

Keep commenting.. I like to read your thoughts :))


By Makrand Bhave, Marketing & MICE, WIZCRAFT International  | 08 13 2009 09:36:51 +0000
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