Indian Parents Logic: Study hard so that you don't have to run a Kirana store. Me Working in the Consumer Goods industry thinking: How does a kirana shopkeeper optimize his business? #middleclassmusings
Optimizing a kirana shop is a big question, and the solution lies in an ecosystem. This ecosystem mainly involves: 1. Increase Sales though technology 2. Customer Retention 3. Credit Management 4. Payment Options 5. Less Inventory Loss 6. Competing with Department stores, Malls and Chain Stores 7. Social Media Involvement These improvements are possible if the shopkeeper adopts technology (SAAS) and uses it fully. While it is difficult, it is not impossible for technology companies to achieve full usage if they educate the retailers and deliver solutions that make them happy. Technology companies must have a customer-centric approach while delivering the solution.
And how come the Kirana guy earns more
Those are not aware of , Kirana shop is most difficult business to run … outnumbered multi-product shop, with personalised service appears to be best business case study ..,Most difficult part of Kirana ( Grocery) shop is to keep tracking their provisions and stocks. LIFO / FIFO / AINO all kind of methods are practiced everyday. Waste pricing and its apportioning on other products to recover losses caused by rodents … is an amazing financial management.
I think this was one advice which also didn’t work fr financial reasons - some of the newest unicorns and the biggest businesses now are all about the Kirana stores. Dhanda (business) remains more important as they say :)
There were only two examples given to you as a child 1. Kirana Store 2. Car Mechanic #nostalgia 😁
If u study can handle more than 100kirana store not study means u can only one kirana store handle
MBA karke v kirana store me market research, wah wah.
Because Kirana Shop keeper is able to understand his catchment need and wants, he doesn't rely on KVI article. Here in Industry, we aren't able to track this micro needs of single customers at region level. For this to improve, assortment planning should be done using Neilson data which brand is popular, identification of local gems, regularly visiting new cities and coordination with state merchants for upcountry store needs.
Founder & CEO @ Zen Media | Keynote Speaker | Henry Crown Fellow (Aspen Institute)
1moThey were playing status games. We play value games.