From a retailer’s point of view, in the last five years or so, there has been a huge inclination towards technology and digitisation.
However, social media is another category which is gaining popularity as more retail brands are associating with it and are spending a large amount of money to adopt it in their business plan. Retail today is largely about experience; even e-commerce giants are working on a shift in proposition from convenience to experience.
No matter how big or small a brand is, it must have now a robust social media strategy for growth and survival. Be it a strategy or just a rat race to keep yourself updated, a large section of the industry is backing this trend. A look around and we notice innumerable brands online that are working towards building themselves using social media and after having tested the waters, taking an of ine plunge. Having a strong social media strategy in place, these brands are creating a ripple in retail, the effect of which has forced many big brands to pay more attention to their social media presence.
With the onset of the pandemic, people are spending more time at home on their smartphones and therefore are connected with this model of retail in a very dedicated manner. The April edition of IMAGES Retail brings you an analysis of how the power of social media is being actively used by budding new brands in roping in new customers and pampering the existing ones.
As the retail industry prepares itself for yet another wave of the pandemic and lockdowns, we bring our readers some perspectives from retailers and brands that will be facing the sword to come out of this situation.
As always, we hope you find the issue informative and useful. Log on to our website https://www.indiaretailing.com/ for more features, analysis and expert opinions.