Kirana stores are not just the ma and pa stores that we rush to once in a while when we run out of some essentials in our kitchen. Kirana stores are the backbone of our economy and an integral part of the commercial market space through which all big brands reach out to their customers easily. With the advent of e-commerce markets, the Kirana stores are slowly losing their glory.
Though the e-commerce market is getting bigger each day, the role of traditional Kirana stores can never be replaced. To stay relevant and match up with the current buying behavior of customers, Kirana stores need to ramp up. Upgrading Kirana stores on the following five aspects can bring it back to its former glory and contribute a long way in our overall economic recovery.
In today’s time, a major hassle for Kirana store owners is to keep their stock updated as per the customer demand as traditional means of inventory management and stock procurement is time-consuming. By adopting a digital medium, Kirana store owners can not only get their stock delivered at their doorstep in just a few hours but also have more options to buy from and manage their inventory efficiently.
By upgrading their store into a modern look, Kirana store owners can improve their merchandising approach and gain more product visibility, and in turn, increase their sales.
3. POS and digital billing:
Standing in long queues while the shopkeeper packs each item you order and then lets him calculate the bill manually and again the hassle for change is something that everyone dreads and wishes to avoid. By introducing POS machines and automatic billing systems, queuing can be avoided and making the shopping experience a lot simple.
Kirana stores can extend credit facilities, which can attract more customers and encourage them to buy more. By working in alliance with several companies that offer easy credit for small amounts and assure timely recovery, Kirana stores can gain a stronghold over its customer base without affecting its business.
If you are one of the stakeholders of Kirana stores or offering any service or are even associated directly or indirectly with any of the four aspects(digitization, merchandising, POS, and digital billing and credits), or would simply like to share your thoughts on turning traditional Kirana stores into hypermarkets. Be a part of our campaign ‘Charcha-Kirana ko Modern Kirana banane pe charcha’ and join us for a short discussion.
COVID -19 pandemic has completely transformed the way we interact with each other. With lockdowns and social distancing being the ‘new normal’, the world and pushed towards its dependency on the internet for its day to day activities. While e-commerce platforms have played a major role in ensuring that the demand for essential needs is met for everyone during the COVID phase, the digital B2B e-commerce sector has suddenly become a the most promising sector for various tech giants and entrepreneurs to enter into.
B2B e-commerce is the future trend and while most tech giants are planning to seize the opportunity to set up their B2B enterprise, Retailersbook and its customer-centric approach are not only shining at the moment but also completely changing the way Kirana store owners interact with distributors and wholesalers.
So what makes Retailersbook the most popular B2B platform for Kirana store owners? Let’s find out.
Retailersbook, the most promising B2B platform for Kirana store owners.
The pandemic phase has pushed Kirana store owners to adopt digital means for the procurement of their goods and several wholesalers and B2B platforms are trying their best to woo them with offers and discounts. A popular news platform Livemint has published an article highlighting this very fact that this is the best time for B2B platforms to gain a stronghold in the market.
Now, with so many competitors at ply, how does Retailersbook manage to stand out among the crowd and manage to maintain a healthy customer base? It’s due to the simple fact that Retailersbook does not simply act as a supply chain channel between Kirana store owners and wholesalers but provides customer-centric solutions. It solves, not just the immediate problems for its customers but also brings in long term benefits as well.
2hrs Delivery: The Game Changer
30-minutes pizza delivery has been quite a popular thing for quite some time, and 1-day delivery schemes on B2C e-commerce sites quite a common thing too, but 2 hrs delivery in B2B e-commerce is something as new as this domain itself.
While it may sound like a cliché marketing gimmick, it creates a much deeper impact on the current FMCG supply chain ecosystem. There are four important facets through which Kirana store owners can benefit from this scheme:
A Shorter ROI cycle
Minimal dependency on credit
Eliminate space issue with reduced inventory size
Ability to sell a more diversified product variety
Before you can understand how Retailersbook offers all the above benefits to Kirana owners, let’s get an insight into how a Kirana store works, and review the basic math involved in the day to day operations of a Kirana store.
An average Kirana store has to plan the goods to be procured based on the following factors:
Items with maximum margin and maximum demand
Items with maximum margin and average demand
Items with average or low margin but extremely high demand
Items with average margin and average demand
Based on these four deciding factors, a Kirana owner has to plan on how much he/she can invest for goods procurement so that a reasonable amount of ROI+profits can be achieved before the next cycle of goods procurement. This cycle is usually 10 to 15 days long. Kirana owners have to stock up goods for 10-15 days, based on the latest buying trends and regional preferences.
Stocking up goods in large quantities, can result in some portion the stock remaining unsold, damaged, or expired by the next procurement cycle. This is a direct loss to the Kirana owner which roughly sums up to 10% of its total purchase.
Now, with the option of 2-hrs delivery, Kirana owners can completely reduce this loss by ordering goods on an on-demand basis. Rather than ordering goods for 1 week or 15 days in advance, they can place an order for goods frequently or on a daily or bi-weekly basis based on the dynamic demand pattern and gain better ROI within a shorter time hence maintain a shorter ROI cycle.
In traditional schemes, retail owners usually depend heavily on credit facilities extended by their distributors which in turn encourages them to place bulk orders. These credits usually come with add-on charges.
A Kirana store has a daily requirement for 1 box of cold drink which costs Rs. 1000. So, the shopkeeper has to order 7 boxes of cold drinks for the week. When purchased on a credit basis, say the Kirana owner has to pay half of the amount in advance, and the other half at the end of the week along with extra Rs.130 per box as credit charges. So, the total charges that the Kirana owner has to pay for the cold drinks for 1 week of supply is (1000×7)+(130×7) which totals to Rs. 7000+ 910= 7910.
By ordering a box of cold drink from Retailersbook and getting it delivered in just 2 hrs, the Kirana owner just has to pay Rs. 1000 per box or less. With the ROI earned from the cold drink each day, he/she can place the same order for the next day hence eliminating the need for any credit
A 2-hrs delivery scheme, allows the retail owners to place small orders based on dynamic demand and avoid hoarding goods that will eventually remain unsold or get damaged while lying in their store. With a shorter ROI cycle, retail owners can fulfill all his/her goods requirements and have minimal dependency on credit.
Placing small orders also addresses the third issue that usually all Kirana store owners face…SPACE!
This image perfectly represents what an average Kirana store looks like. It’s easily imaginable, how difficult it must be to keep track of every item in the inventory. Hence it’s common that some items go out of stock or get expired while lying heavily dusted on the shelf. Limited space also restricts the retailer form having a wide variety of products and brands at the shop and has to bifurcate its choices to only limited products from each category.
With 2 hrs delivery and smaller order size, the Kirana owner no longer needs to stock up goods in this manner. He/she can now accommodate more variety of best selling items and a more diverse category of products in the same space. With smaller inventory in the store, it will be much easier for the retailer to keep a track of each item in the store and place the order for a new set of products when the demand comes in. So, in a process of eliminating the issue of space, another important issue for Kirana owners i.e having diversified product range is also taken care of.
While all the B2B platforms are trying to bring offline retail supply chain to a digital platform, it hardly makes any effort in understanding the day to day problems faced by small SMEs and Kirana owners.
Retailersbook, on the other hand, focusses entirely on solving these problems through its innovative technology and well-planned strategies to address issues in the current supply chain ecosystem. Be it building its innovative and strong last-mile distribution network through in-city warehouses or through offering 2-hrs delivery for its buyers, it always aims at improving the dynamics of the B2B network and its success in South Delhi region only affirms its caliber in establishing itself as a prominent name among its peers.
Last-mile delivery plays an important role in the way businesses deliver their products to end customers. A traditional process flow for any product usually begins at the company production unit from where the product is shipped to warehouses of zonal, regional, and local levels before it finally reaches the shelf of the stores.
Retailersbook is changing this complete scenario with its latest flagship RB-Adapt. A revolutionary idea that solves the indigenous problem of last-mile delivery by coming up with a robust channel and effectively shortens the product route to a minimum. It also ensures that the products reach their customers within a short time span(4 to 24 hrs.) This whole transformation gives it a favorable advantage over traditional systems as it creates a great opportunity for the community to rent out their free space as an on-demand warehouse and generate revenue from it, which otherwise would have been of not much use.
So, here are a few questions that the young founders of this innovative solution and try to answer and give us more insight into it.
Q. How exactly are you solving the problem of space and last mile delivery?
For anyone trying to create a distribution channel, the biggest challenge for them is to find the space and trusted partner in the least amount of time where they can store the products for last-mile delivery. While setting up large warehouses can be very expensive, any short term arrangement can also involve quite a risk too. So we planned to fill this gap quickly and through RB Adapt, we are trying to help businesses find on-demand RB-Adapt mini-warehouses located close to their demand regions.
Q. What are RB- Adapt mini-warehouses and how are they different from normal warehouses?
RB-Adapt mini-warehouses are usually readily available spaces that are converted into RB-Adapt mini-warehouses and are available for SMEs/brands. These mini-warehouses can be used to hold products for a flexible time period before being delivered to their buyers. While setting up and running traditional warehouses as permanent establishments involve a lot of costs. RB-Adapt warehouse is readily available as per convenience and is located near the regions of product demand thus making same-day deliveries quite easy.
Q. What is the technology behind such an innovative approach?
RB-Adapt service uses state-of-the-art Machine learning tools to forecast demand both from the SMEs as well as the retailer side, which helps us to guide SMEs and brands about upcoming demand. Also, RB Prism, a data lake is being set up which captures all events, behavior, and transactional data. This helps in building various tools around Vehicle Route optimization (for generating routes to refill Adapt Warehouses & last Mile delivery), Recommendation engine (for RB Marketplace), Vehicle Suggestion Engine (suggests best-fit vehicle from the available vehicle for last Mile delivery based on products weight & volume).
Q. How are you creating value for space owners in this current situation?
It is very common for people to have some free space with which they rarely use. By converting these free spaces in RB-Adapt mini-warehouses, space owners get a chance to earn revenue out of it. Considering the fact that these space owners would hardly require to make any setup adjustments for converting their space into an AB-Adapt warehouse, its a win-win situation for them as they get to earn money without having to invest anything.
Q. How are you keeping ahead with your competitors?
As we move forward in the age of ever-evolving technology, it’s safe to say that all workplaces are in the midst of change. Today, as companies across every industry face constant pressure to do more with less, efficiency is the name of the game. This is especially true in the B2B last-mile distribution network, being a critical component of the supply chain.
Retailersbook is not just any B2B e-commerce platform that connects buyers with sellers. It is a highly advanced technology that is agile and customer-centric and focuses on creating a complete retail ecosystem and building strong Last-Mile B2B Retail Distribution Network. This whole structure is based on its three preemptive technologies (Retailersbook App, RB Express, and RB Adapt) which interact with each other to form a transformational hyperlocal last-mile B2B distribution network for same-day delivery(2 to 4 hours) in future.
Q. What is the idea behind RB-Adapt what is your long term vision?
The idea of RB Adapt is to provide an on-demand warehousing solution and creating an inventory of unused spaces to be used for last-mile distribution. In the times when several FMCG companies are is launching their own e-commerce channel (ITC, Marico, and others) the differentiator will be last-mile deliveries whether it is B2B or B2C channel. With RB Adapt, an ecosystem is being created to ensure order fulfillment in the fastest time at lesser logistics cost.
Our long term vision is to create a trend among brands and SME’s to adapt Retailersbook for fast and cost-effective last-mile B2B Distribution Network.
Technology has been a big game-changer in every sector be it education, marketing, e-commerce, and more. This innovative technology in last-mile B2B distribution can be seen as a promising change that is the need of the hour.
While SMEs are adopting new channels during the COVID-19 crisis, know why Retailersbook is their favorite!
The digital era has greatly changed the way consumers interact with sellers. At a time when anything and everything is just a click away for end consumers, thanks to the multiple B2C channels, the B2B sector is also gaining fast momentum in this field. There are a couple of B2B platforms that have come forward to solve the supply chain problems faced by businesses and retail stores, and Retailersbook is one such name. When time plays a crucial factor for customer satisfaction, the hyper-local approach of Retailersbook gives it a competitive advantage over others especially for the fast movement of essential goods.
This global pandemic has accelerated the transition of traditional supply chain towards digital technologies and several startups have come forward to ease out the stress that this worldwide lockdown has been causing on the global economy. Its high time for unorganized sectors to transform themself into an organized sector. Especially for SMEs which have full potential for playing a vital role in catering to the demands of every household during this time.
WhyRetailersbook Is The Best Platform For SMEs?
To stay ahead in the game, you need to make sure you have everything that makes you stand out in the crowd and gain loyalty among your channel partners. Here are a few things that Retailersbook focuses on, making it a favorite among SMEs who are adopting digital platforms for accelerating their businesses:
1. Support as a marketing agency
Launched a new brand or product and looking for means to get market reach? Retailersbook not only helps you in gaining a wider market reach but also offers engaging marketing schemes and advertisements that too at the cost of a shoestring. Being a seller on Retailersbook gives you this added advantage to boost your market presence and gain maximum traction within a short span of time. Be it go to market strategy or through digital means, you can be assured that your product reaches its suitable customers in the best way possible without having to shell out a huge amount of money for advertising through third party digital agencies.
2. Fastest and transparent payment
With digital frauds on a rise these days, digital payments can be quite a risk but not with Retailersbook. Its transparent and robust payments system ensures that your money is in safe hands. Retailersbook not only provides a fast channel for all digital as well as cash payments, it’s quite secure as well. Whether you have to receive payments for your shipments or get a refund, everything is processed within a short time span.
3. Quick response and Sales support
Remember that annoying experience where you have to call up a customer care number and go through a number of options and a really long wait time to finally talk to a customer care executive? You will be glad that you will never have to come across such an experience with Retailersbook. Its 24×7 customer care and sales support service connect you to actual people who are every willing and more than happy to help you out and ensure that you have a wonderful experience using their services. Retailersbook is committed to come out of their way to offer flawless customer service at any time of the day, any day of the week.
4. Direct feedback from customers
Getting an early response from customers can be a great advantage for brands and SME’s especially if they have launched a new product or a whole brand itself. The brand-friendly approach of Retailersbook helps SMEs in getting a direct feedback from customers on how their brands are doing in the market. This could, in turn, help the brand to plan their supply chain cycle and address to any issue that can be fixed immediately.
5. Suggestions for best fit market
The demand for products is subject to consumer habits and varies from region to region. For example, while the eastern part of India has a higher demand for rice, the same is not true for regions like north India. Retailersbook gives you insights and suggestions for the best-fit markets for your product. Knowing exactly where the demand is, SME’s can easily fill their demand and supply gap
6. Easy way to pass on schemes and benefits to retailers directly
Offering benefits and schemes to retailers by SMEs can be an indigenous means to gain wider market reach even in a competitive space. But since the channel SMEs and retailers are interfaced with a number of distributors and sub-distributors, not every scheme is passed on to the retailers. Since Retailersbook provides a direct platform for SMEs to connect with retailers, the retailers now get the benefits from the SME’s directly without having to give up any share of commissions or shares in the process.
Its no doubt that Retailersbook knows well what its user’s needs and has ensured that it caters to all those needs and much more. With B2B space being one of the most promising areas of growth at the moment, the customer-centric approach of Retailersbook can be a big game-changer in days to come.