5 tricks to be successful in ethnic retail

Going by the famous adage-'Knowing is not enough, we must apply; willing is not enough, we must do", by Bruce Lee, the following rules will inspire you to act smart when you want to be successful in ethnic retailing in India.
Ethnic retial

When the world is going fashion frenzy, and inclining more towards western-wear and work-wear apparel fashion segment, these 3 ethnic retailers have done something beyond normal to yield good returns. These retailers speak their mind out in revealing the secrets of becoming a successful ethnic retailer.
NATIONAL VERSUS GLOBAL
Anupam Tulsyan, Co-founder & Managing Director, Peachmode.com
National eCommerce retail is we feel still in very early stage, especially in fashion category because of size issue, logistics problem in returning a product, different policies etc. Currently for all domestic customers we confirm each and every order, call the customer, explain the policy etc. but still we face problem where customers don’t understand the policy or ignores the messaging etc. on website. With International customers we don't face many problems. They understand the policy and their rights. They expect quality product and service and if they are provided, we get happy customers.
Sanna Vohra, Founder & CEO, Indear.in.
International customers typically place larger orders, because they only want to pay the shipping fee once. They also tend to have a different aesthetic than Indian customers.
Shailesh, Co-founder, Mirraw.com
Majorly rules & regulations etc decide the operating environment. So logistics needs to be well planned along with marketing. Other things would remain the same (like support, quality, etc) while operating at both national and international levels. From a marketing angle, campaigns would differ based on their time zones, festivals/occasions making the experience more relevant.
DEMAND SUPPLY GAP
Anupam
There is a huge demand of ethnic wear in the markets of USA, UK and Dubai and if you see the retail outlets in this location, product prices are too high as compared to India owing to high property cost and rupee conversion value. With eCommerce retail channels like Peachmode, we are trying to narrow down the gap. Provide custom stitching for the products and price of the products remain the same as we retail in India.  We just charge on actual for shipping.
Sanna
We sell wedding jewelries and fashion from a lot of vendors who are not available anywhere else online, or who only sell particular products through us. We see a lot of demand for these exclusive lines and products because they are different from what customers see on other websites. We also make recommendations to the customers based on type of wedding, their role in the wedding, and the type of function, so we help guide them in making purchases as well, which is a feature most other retailers do not offer.
Shailesh
We are stil discovering in this journey of ours. The gap is in billions of dollars & unorganized. In this short span of time we ourselves have clocked over 100 crores in revenue.
REACHING TG
Anupam
Our TG is mainly NRI audiences. Although trend is slowly catching up with other communities for Indian Ethnic Wear. Some customers if they are attending Indian friend's wedding in USA also like to get dressed in Indian attire.
Shailesh
Majorly our TG involves women. Women from all over the globe. A 25 yr old student or working professional to a 45yr old mother. We also have a lot of NRI's from US & UK. We are seeing many customers from Tier II & III places as well. To suit their preferences we also started COD system.
TRICKS TO BE SUCCESSFUL GLOBALLY
Anupam
Providing service to each and every customer and paying attention to their exact requirements make the difference. There is no scope of error in terms of damaged product or wrong stitching size or design difference with international customers. Hence, an extra round of quality check is performed before shipping the products to international customers.
Sanna
A wide selection of products, good customer service, clear payment and shipping policies should be in place to be successful in this category of retail.
Shailesh
One needs to be highly data driven. Data helps you clear clutter and avoid gut based decisions. Global customers value quality as well as support. Best in market value & on time delivery are prime factors if you want to build a successful business. You also need to manage cost very intricately, especially in our case (bootstrapped)
Hiring the right people at the right time (in the right qty/nos) are also an important factor while creating a global successful business. 

 

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