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How To Forecasting Retail Business Management

2013 sounds and seems promising. The year that went by is also something we need to reflect on. It was action packed with lots of twists and turns. On the whole, a roller coaster ride which we would not forget. Consumer behaviour changed and we saw the swift from going to the local grocery or kirana store to more plush and large retail stores opening throughout the country.

Polls reveal Numerous polls conducted by organized and non-organized bodies reveal that 2013 will be more about spending money. Consumers would be spending more on things that bring in happiness and health to them. They would be spendthrift on frivolous items and make more practical buying decisions. Holiday sales is something retailers wait for with a lot of eagerness and this year too it will increase by a mere percentage.

Online Shopping

With the number of consumers taking their buying online, retailers will have also focus more on  ramping up the in-store experience. The retail experience is all about entertainment in the store. Consumers not only see the brand but they touch and feel the products. The interaction  will have to be tailored to increase consumer delight. This will result in increased sales beyond the forecasted numbers.

New & Old retailers Every year, the count of old and new retailers entering or leaving the industry keeps varying. But with the advancement of technology, there is a new crop of retailers who believe that they can run their business completely online and find it more affordable since the real estate costs come to the minimum. Consumers are being pampered with sales almost every day by the small group of e-commerce sites. Big brands also find this favorable to them as the brand awareness among customers increase not only through their concentrated efforts but also through the small retail players with massive online presence.

Entrepreneurs

For budding entrepreneurs, this will be a potentially fruitful year if the new product or service introduced is packaged…

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