Retail Lab

recent trends

In this episode we talk about the Indian Media and Entertainment Industry which is one of the sunrise sectors of the Indian economy and is making significant progress with time. It has proved its resilience from time to time and is on the verge of having a solid phase of growth driven by increasing consumer demand and ad expenses. We will learn more about some of the key trends that are significant industry drivers.

The personal care industry has encountered difficulties during the pandemic. Retail stores closed, customers shunned social events, and on-premises sales decreased as the world went into lockdown. Despite this, the personal care industry has remained one of the most successful post-pandemic companies, thanks to online sales. A completely different and a new side of organizations, marketing strategies was seen. 

After Covid-19, the one industry which is changing significantly is the tourism industry. In this episode, we will see the top tourism trends and highlight how leisure businesses can stay on the top of their game and are rebuilding tourism for the future.

Have you ever visited a shop and spent a longer time than you intended to? You must have gone from aisle to aisle and have spent more than you thought. That is exactly what retailers want. This is where Visual merchandising & Store layout comes into the picture which is done by retailers to increase footfall and drive sales with maximum impact.

The retail industry is growing at a significant rate worldwide. With the growth of the retail industry, the management of retail operations is also becoming crucial and is gaining light. The operations have many aspects like inventory management, payment, checkout, store layout, budgeting, etc. Payment and checkout are crucial aspects of operations in the retail industry.

Inventory is the most important asset of a business. It is said that the Inventory of a business is just money sitting around in another form. And a business is all about having the right amount of money at the right time. Simply translating this to the fact that Inventory Management is all about having the right amount of stock at the right time in your inventory.

It is never too late to start budgeting in any business. Even if you've been in the company for a long time, it might provide you a significant boost. According to accountants, this is an area where many shops fail. Here is how Budgeting might help you:

·  Estimate the amount of money you will have to deal with.

·  To keep against running out of money (and getting into scrapes with suppliers or banks)

·  Develop preparations for reinvesting in the business to improve it

·  Check to determine if things are off track and make any course changes

With summers around the corner, manufacturers of home appliances such as ACs, fans & coolers gear up to meet the huge demand of this season through different steps & tactics. Check out how sales in the electronics industry are affected in summers!

The hotel industry is one of the subdivisions of the hospitality industry, which aims to provide visitors with lodging services. Check out about the industry specifically in summers.