The pandemic has affected all the sectors across the globe in a drastic way, especially the fashion retail business in developing countries like India. In addition to the pandemic, falling GDP growth, increasing inflation, and unexpected financial losses have made the Indian fashion product consumers even more cautious about where to spend their money.
The ERP software technology came a long way since its invention in 1960. At that time, big firms use it as inventory management and quality control system. But now, no matter what task it is, small-medium and large enterprises use ERP software to handle their complete business operations. An ERP system is necessary for building a cognitive business that
In the fashion products segment, the retail corporation is gaining more importance to enhance India’s retail ecosystem. Back in the year 2020, when the COVID-19 outbreak started, many issues arise, such as: Increase in inflation, Falling GDP, Global Financial crises, Increase in unemployment, Shutting down of businesses, etc. This
One thing that COVID-19 taught to retailers is that the use of modern ERP solutions that offer omnichannel, cloud-native, multi-billing, and microservices is inevitable if they want to address rapid change in shopper’s demand in the future. We can’t deny the fact that it was necessary to impose a nationwide lockdown to protect people from getting
When the pandemic started and the global lockdown was announced, the first challenge that retailers faced was to cop-up with the sudden rise in essential items. At that time, many challenges surfaced like inventory management, handling sudden demand-outburst, internal theft, etc.. After that, online ordering and delivery of items was introduced at a large
In the fashion & apparel industry, one of the things that a consumer desires are to have a close connection with his/her favorite brands and the party behind them. But now, during the pandemic and after it’s all over, they want to make less physical contact as much as possible. The restrictions placed during the lockdown period had a great impact on
Since the start of this global pandemic, there have been dramatic changes in our lives, and the business models of almost every industry. People started adopting online shopping & payment methods, home delivery of groceries experienced a huge boost, and much more. The COVID-19 also accelerated the demand for cashless payment modes as consumers want to
Everyone wants to run a successful business, making sure it’s in the right position to scale. It’s a nice thought to have. But to make the business come out of the small potatoes, there are few things that companies have to confront: market trends, inventory management, changes in the retail industry, etc. These changes are not new, but they take
It isn’t an easy task to run a multi-store retail business. But if you have the right tools, people, and process, you will find that managing the tasks of several stores are very easy. In this article, we’ll talk about the few steps that you can take for ensuring your stores run without any problem under your watch. Following are some of the tips to
The world has seen a lot of changes in the past few years such as a change in consumer’s behavior when buying apparels. This switch in mentality is because of ‘see now, wear now, and buy now’ parameters introduced in the fashion world. Also, the influence of social media influencers is something to give credit to. They have more power compared to
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