26 October 2022 14:56:30 IST

Drishti Batra is a MBA student at SVKM’s Narsee Monjee Institute of Management Studies, Bangalore (NMIMS)
Anahita Handa is a MBA student at SVKM’s Narsee Monjee Institute of Management Studies, Bangalore (NMIMS)

Vishal Mart should curate experiences for its retail customers

Drishti Batra and Anahita Handa, students of NMIMS Bengaluru, are the third runners-up of IBS-Hidesign case study challenge to come up with strategies to put Vishal Mart back on the top shelf.

Covid-19 has dramatically changed the retail landscape. The traditional selling tactics may work not as well as before, so we’ve added new recommendations to help increase Vishal Mega Mart’s retail sales in today’s new normal.  Whatever the case, we know how important sales are to our brick-and-mortar stores with a few steps: 

Implement click-and-collect  

Click-and-collect has been around for a while now, but Covid-19 has accelerated its adoption. Offering this service will help drive in-store traffic and sales. Click-and-collect not only gets people through your doors but it’s been proven to increase in-store sales as well. Research has shown about 45 per cent of those who have opted for in-store pickup bought something else during their trip to the store.  

Google Search and Maps

Taking the Google listing to the next level by displaying the inventory in Google Search and Maps. 

Hire and develop employees who can provide exceptional customer experiences 

Employees are the people who are doing the selling, so if you are looking to increase sales, one needs to invest in the staff. If they are passionate they will want the customers to have the same experience as them. If they are knowledgeable they will share their passion with confidence.

Hiring sales associates that are passionate and knowledgeable about the products they sell Instead of just thinking of them as “salespeople” elevate their role to “consultant,” “expert,” or “concierge.’’ Be grateful and appreciate the staff, treat the team members like they matter!  

Eliminate the wait  

Long wait times will send guests packing and kill sales.Start by keeping the store well-staffed, particularly during busy periods. Looking at store data to figure out your peak hours, then ensure that you have enough employees and registers to handle the rush. 

Would you recommend to Vishal Mega Mart that it opt for an omnichannel strategy or should it continue to focus on offline expansion as a value brand? 

The future is a store where digital and offline businesses are merged. Customers today need a smooth omnichannel experience, round-the-clock customer support, and personalised communication. Another company is always only a click away for the customer. An omnichannel strategy should be advantageous for both organisations and clients. 

How does Vishal Mega Mart fit into an omnichannel strategy? 

Even though e-commerce is expanding, customers still place a high value on retail. The function of Vishal Mega Mart has changed, a sizable portion of consumers still favour shopping in physical stores over doing it online. Vishal Mega Mart should recognise the store’s potential as a showcase and carefully craft experiences to interact with their customers. 

Vishal Mega Mart can increase offline interaction by:

  • Consider contests, tutorials, meet-ups with brand supporters and influencers
  • Product demonstrations as examples of the types of in-store activities
  • Increase personalisation among customers
  • Relaxing aura and pleasant smell across the stores
  • Constant cleaning of the store as aesthetics matter a lot! 
  • Not dumping of materials or store items at one place
  • Decorate with soothing colors 

How can an omnichannel strategy benefit Vishal Mega Mart? 

  • Improve customer lifetime value
  • Reach new customer segments 
  • Increase operational efficiency
  • Increase sales 
  • Improve inventory turnover

How can Vishal Mega Mart successfully build an omnichannel strategy? 

  1. Focus on increasing personalised services
  2. Focus on creating memorable in-store experiences 
  3. Incorporate interactive technology 
  4. Concentrate on training/reskilling staff
  5. Map the entire customer journey 
  6. Turbo-charge Vishal Mega Mart social media presence
  7. Use AI and chatbots to provide better customer service
  8. Collect and analyse data to find brand advocates 

How can Vishal Mart expand its consumer base across India? 

The worth of Vishal Mega Mart customers is one of the main factors influencing any company’s value. Any business must prioritise maximising a customer’s lifetime value and analysing customer profitability. Maintaining continual touch with both current and new consumers is essential for growing Vishal Mega Mart’s clientele, and the more value Vishal Mega Mart can provide to them, the more likely it is that they will stick with Vishal Mega Mart. 

Start a newsletter and offer a free subscription 

When the store will offer a free newsletter, they are informing their potential customers that we are willing to provide free information from the start. If Vishal Mega Mart provides good content, customers will know more about Vishal Mega Mart business. Also, by sending them constant emails, they wont forget about Vishal Mega Mart store. 

Increase Vishal Mega Mart customer base by sourcing feedback  

Before a web visitor leaves the Vishal Mega Mart website, request that they complete a short survey related to the Vishal Mega Mart business. People are happy to express themselves and often enjoy telling about their online and offline experiences. Vishal Mega Mart can use a survey to conduct industry research, customer experience, or measure customer satisfaction. 

Keep up and maintain customer service 

Treat each customer with respect and take appropriate action. A happy customer is likely to tell at least three friends about a positive experience and sales. Vishal Mega Mart can keep track of previous customer communication through tools such as CRM software. 

Keep website content fresh 

Fresh and informative content is one of the main elements that pull in new visitors and potential customers. Keep Vishal Mega Mart content fresh by publishing a blog that reports the latest business news, key takeaways from whitepapers and hot topics within Vishal Mega Mart industry.  

Promotebusiness on social media  

Facebook users have an average of 338 friends. When Vishal Mega Mart creates new content, launches a new product, or runs a new campaign, be sure Vishal Mega Mart shares this across social media channels. There is no easier way to grow the Vishal Mega Mart customer base than providing value and then having Vishal Mega Mart customers promote Vishal Mega Mart brand for Vishal Mega Mart.