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<ul><li>CBRE forecasts that <keyword id="12993910" type="General" weightage="20" keywordseo="retail-leasing" source="Orion">retail leasing</keyword> activity will hit 5.5-6 million square feet in 2023 – the highest since the 2019 peak. </li><li>Consumers prefer to examine products, seek salesperson support, driving in-store shopping experiences. </li><li>As online shopping grows, high cost of returns might drive brands to leverage store networks to offset costs. </li></ul>In spite of the rapid evolution of e-commerce, brick-and-mortar stores will remain at the heart of business, says a new report by real estate services firm CBRE. It forecasts retail leasing activity will hit 5.5-6 million square feet in 2023 – the highest since the 2019 peak of 6.8 million square feet. Ram Chandnani, managing director – advisory &amp; transactions services, CBRE India, said that retailers must be prepared and consider strategic investments amid rapidly changing consumer behaviour. Consumers’ preference for examining products, seeking support provided by a salesperson, real-time purchase and a layer of experience offered by brick-and-mortar stores — are the top reasons for retailers to engage customers in an in-store shopping experience. “While global headwinds could impact discretionary retail spending, cautious optimism among consumers along with diversified location and omnichannel sales strategies of retailers are likely to help the sector navigate the next normal,” said Chandnani. There are supply-side drivers too as a significant amount of pent-up supply is lined up for completion during 2023. Retail supply is estimated to touch 6 million square feet in 2023 – highest in the past five years, and primary leasing in newly completed malls will remain a key driver. Several investment-grade projects launched by reputed players in the past 1.5-2 years are also expected to become operational in 2023, the report said. “We believe that any impact of an expected slowdown on economic activity will be circumvented by strong macroeconomic fundamentals and domestic consumption. India’s strong domestic consumption would continue to strengthen the retail sector, which would see a strong supply pipeline in 2023, driving leasing activity,” said Anshuman Magazine, chairman &amp; CEO - India, South-East Asia, Middle East &amp; Africa, CBRE. Store networks to offset reverse logistics cost Listing out emerging trends, the report also said that <keyword id="10368252" type="General" weightage="20" keywordseo="omnichannel-strategies" source="Orion">omnichannel strategies</keyword> will remain the focus of retail strategies due to high cost of reverse logistics. “Online returns cause enormous stress on distribution networks, and reverse logistics cost for an average return can go up to 66% of the original sales price of the item,” said CBRE. As demand for online shopping continues to grow, retailers are likely to leverage store networks to offset the costs. The report also said that fashion &amp; apparel, homeware, and department stores are likely to lead leasing activity in 2023. Brands explore new locales, strategies Yet another trend is the willingness of most brands that have an existing customer base, to explore locations where retailers have used innovative concepts to draw a crowd. “In a bid to diversify their location strategies further, several international brands in the F&amp;B (food and beverage) and apparel segments are also opening stores along expressways or highways,” the report said. Brands are now open to exploring markets beyond popular urban locations. “India’s transition into an organised retail market would be driven by the continued growth in these cities. It would, thus, become vital for retail stakeholders to harness the economic and development potential of these cities,” CBRE said. Rising urban population, increase in per capita income, supply chain revamp after the pandemic and successful brand launches in Tier-II, III and IV markets have led retailers and prominent developers alike to explore emerging untapped markets, the report added. SEE ALSO <a href="https://www.businessinsider.in/advertising/brands/news/campa-has-to-go-beyond-invitation-price-to-build-the-brand-distribution-network/articleshow/99025480.cms">Campa has to go beyond invitation price to build the brand &amp; distribution network</a> <a href="https://www.businessinsider.in/business/news/millennials-want-the-security-of-their-own-roof-over-heads-finds-cbre/articleshow/98120129.cms">Millennials want the security of their own roof over heads, finds CBRE</a>

As stores remain at ‘heart of business’, retail leasing to hit a 4-year high in 2023: CBRE

<ul class="summary-list"><li>Walmart is leaning more into its 4,700 US stores to fulfill orders for its growing e-commerce business.</li><li>It's a strategy that rival Target has been laser-focused on for a decade, with notable success.</li></ul>Some rivalries are about more than winning against one opponent.A good competition also teaches each player lessons that can be used in other matchups.As Walmart and Target seem to borrow — or steal — strategies from each other, a striking similarity between the two is their approach to e-commerce.Specifically, <a target="_blank" href="https://www.businessinsider.com/visiting-walmart-recently-renovated-supercenters-in-wisconsin-2023-11#there-were-also-workers-filling-blue-bins-on-carts-for-online-orders-6">Walmart's latest round of renovations</a> shows its commitment to fulfilling more of its e-commerce orders from its retail stores — an approach Target has prioritized with great success for years.But more than battling one another for digital supremacy, the big-box brands likely have their eye on a larger fish in the online pond: Amazon.To be sure, Walmart is still the bigger company by almost every key metric. The Arkansas-based retailer is the world's largest private employer and its annual revenues have propelled it to the top spot in the <a target="_blank" href="https://fortune.com/ranking/global500/">Fortune 500</a> for 10 straight years.But in the world of online sales, no one comes close to <a target="_blank" href="https://www.businessinsider.com/amazon-package-delivery-speed-walmart-target-2023-1">Amazon's preeminence</a>. The company's e-commerce business made nearly $220 billion in North American sales last year, eclipsing Walmart's $53.4 billion and Target's $20 billion.Now it seems that Walmart has determined that the best way to <a target="_blank" href="https://www.businessinsider.com/amazon-falling-farther-behind-walmart-in-online-grocery-sales-2023-11">gain digital ground on Amazon</a> is to borrow some pages from Target's playbook.Digital sales still depend on physical merchandise in physical locations, and this is where the competition looks like it's heating up.In the US, <a target="_blank" href="https://www.businessinsider.com/amazon-fulfillment-center">Amazon's fulfillment network</a> is made of some <a target="_blank" href="https://www.mwpvl.com/html/amazon_com.html">1,300</a> facilities (plus about 500 Whole Foods locations). Target has nearly 2,000 stores, plus some 55 supply chain facilities.Walmart CFO John David Rainey highlighted the difference in scale in his remarks at Morgan Stanley's retail conference on Wednesday."The most expensive part of delivery is the last mile," Rainey <a target="_blank" href="https://research.alpha-sense.com?docid=T-CP_2951167&amp;stmt=fse7293&amp;hl=fse7293_0.20.74.1!fse7367_0.0.150.1&amp;page=1&amp;utm_source=alphasense%20platform&amp;utm_medium=document%20share&amp;utm_content=T-CP_2951167&amp;utm_campaign=1702067317802">said</a>. "That's where our physical footprint of 4,700 stores in the United States that are within ten miles of 90% of Americans gives us an enormous advantage."Walmart also owns some <a target="_blank" href="https://www.mwpvl.com/html/walmart.html">200</a> distribution facilities across the US that keep the whole operation moving along.Although Walmart was technically ahead of Target in what's now called omnichannel (Walmart launched its "Site to Store" service in 2007), the company has experimented with just about every iteration of order fulfillment available.The Bullseye retailer meanwhile has been laser-focused on refining the approach it <a target="_blank" href="https://corporate.target.com/about/purpose-history/history-timeline?era=3&amp;id=131">launched</a> a decade ago and currently refers to as "stores-as-hubs," in which store inventories are used to fulfill online orders.That may sound like a simple or foregone conclusion to the fulfillment puzzle, but for large retailers it's anything but. Costco for example elected to build a separate fleet of warehouses to handle dot-com orders.Walmart has dedicated e-commerce warehouses too, but the company's "store of the future" redesigns now feature more space than ever before devoted to the sorting and shipping of digital orders.If that sounds familiar, it might be because Target's recent store modernization effort also reallocated more square footage to processing web and app sales. Target says its stores fulfill 95% of digital orders.Tapping into their considerable physical retail presence offers Walmart and Target the opportunity to meet or exceed Amazon in one metric that founder Jeff Bezos cared a lot about: speed.It has taken Amazon a phenomenal level of investment and innovation to locate its facilities in places where it can reliably offer next-day delivery in the US.Amazon recently improved its speed by shifting from a national fulfillment network to a regional model, as well as expanding its same-day delivery sites, an Amazon spokesperson told Business Insider.But while you can get two-hour delivery from Whole Foods, Target and Walmart routinely offer two-hour delivery on just about anything in their stores.To make things even faster, Walmart is taking another cue from Target with the expanded use of <a target="_blank" href="https://www.businessinsider.com/target-deliveries-about-to-speed-up-next-day-shipt-2023-2">sorting facilities to route shipments in high-density markets</a>. These centers collect parcels from multiple stores before sending them on routes for delivery.Going into the holidays, Amazon is the most popular online retailer for gifts, with two-thirds of US consumers saying they'd shop the site.Amazon's spokesperson also pointed out the company's extensive product selection — some 300 million items available with Prime shipping and tens of millions available next-day or faster.Walmart placed a distant second, followed by Target to round out the top three in JungleScout's most recent <a target="_blank" href="https://www.junglescout.com/consumer-trends/">Consumer Trends Report</a>, though the pair placed first and second among in-store retailers.It remains to be seen in the coming years whether Walmart embracing a smaller rival's fulfillment strategy will help close the lead with its larger one.

Walmart is going after Amazon in a new way &mdash; and borrowing a strategy from Target

<ul><li>According to <keyword id="7904037" type="UNKNOWN" weightage="20" keywordseo="omnichannel-marketing">Omnichannel Marketing</keyword> Readiness in India, the inability to act on data in real time and the lack of an omnichannel <keyword id="6354839" type="UNKNOWN" weightage="20" keywordseo="marketing">marketing</keyword> strategy are the two biggest challenges marketers face today.</li><li>Marketers rated personalization (75%), a unified 360° customer view (64%), and <keyword id="9417332" type="UNKNOWN" weightage="20" keywordseo="seamless-customer-journeys">seamless customer journeys</keyword> (37%) as the three most critical initiatives for an omnichannel engagement strategy. </li><li>However, a majority of those marketers also noted that their existing martech platforms underperformed in key omnichannel capabilities such as multichannel execution and data consolidation.</li></ul> Marketers in India rank the inability to act on data in real time and the lack of an omnichannel marketing strategy as the two biggest challenges they face. Omnichannel Marketing Readiness in India – A <keyword id="7881551" type="UNKNOWN" weightage="20" keywordseo="Resulticks">Resulticks</keyword> Research Report, has found that marketers rated personalization (75%), a unified 360° customer view (64%), and seamless customer journeys (37%) as the three most critical initiatives for an omnichannel engagement strategy. However, a majority of those marketers also noted that their existing martech platforms underperformed in key omnichannel capabilities such as multichannel execution and data consolidation. The research, commissioned by Resulticks and conducted by Valuvox, surveyed 414 senior marketing executives across 17 industries spanning multiple business types and sizes. “As new channels proliferate and consumers become more digitally savvy, India’s businesses are challenged to transform how they engage with their audiences,” said <keyword id="7881550" type="UNKNOWN" weightage="20" keywordseo="Redickaa-Subrammanian">Redickaa Subrammanian</keyword>, Co-founder and CEO of Resulticks. “Those leading the transformation have embraced an integrated, truly <keyword id="7324912" type="UNKNOWN" weightage="20" keywordseo="omnichannel-approach">omnichannel approach</keyword> and developed the capabilities and insights to deliver, analyze, and individualize customer journeys in real time and across touchpoints.” Based on the omnichannel readiness reported by respondents, the research classified them as Leaders, Aspirants, Followers, and Others. Nearly all considered integrated marketing automation solutions and data integration tools as top priorities over the next three years. When it comes to marketing channels, website and email remain dominant in the Indian marketer’s omnichannel mix, followed by SMS and in-person interactions. The Leaders are adding new elements to their communication mix, which encompasses social media (54%) as well as QR codes and beacons (28%). With businesses in India exploring possible technology offerings to support an integrated approach to customer engagement, they selected multichannel campaign orchestration (50%), unified view of data across channels (43%), and multi-touch attribution (27%) as key priorities among the most critical platform capabilities. The report offered recommendations for businesses looking to make a successful transition towards omnichannel marketing. Some of these include: o Foster a data-driven organizational culture as a first step on the journey towards omnichannel customer engagement o Adopt a goals-and-means approach to integration efforts and let desired business outcomes shape data and systems integration o Take a phased approach towards implementing new age digital channels to engage customers

Inability to act on data in real time and the lack of omnichannel marketing strategy the two biggest challenges marketers face today: Resulticks Report

<ul><li>With market saturation and competition, brands need to stand out and stay relevant to the target audience and connect to them more emotionally, encouraging loyalty, word-of-mouth, and a strong bond.</li><li>In this exclusive column, <keyword id="6662744" type="General" weightage="20" keywordseo="girish-chaturvedi" source="Orion">Girish Chaturvedi</keyword>, Chief Business Officer at <keyword id="11096287" type="General" weightage="20" keywordseo="netcore-cloud" source="Orion">Netcore Cloud</keyword> writes how <keyword id="2535292" type="General" weightage="20" keywordseo="omni-channel" source="Orion">omni-channel</keyword> personalization offers a competitive edge to brands, the key to building a successful omnichannel strategy and where is omnichannel expected to diversify with the growing popularity of <keyword id="12977778" type="General" weightage="20" keywordseo="gamification-mobile-commerce" source="Orion">gamification &amp; mobile commerce</keyword>.</li></ul> In today’s hyperconnected world, customers constantly seek a unique, personalized experience, irrespective of how they interact with a brand. The rapid penetration of mobile and connected devices has allowed marketers to access customer data and provide a seamless brand experience across various channels. With market saturation and competition, brands need to stand out and stay relevant to the target audience and connect to them more emotionally, encouraging loyalty, word-of-mouth, and a strong bond. According to a <keyword id="1132603" type="General" weightage="20" keywordseo="zendesk" source="Orion">ZenDesk</keyword> report, brands that prioritized customer experience pre-pandemic are already at an advantage. Companies with a mature customer experience strategy are over six times more likely to exceed customer retention targets than those that failed to prioritize the customer experience. How does omni-channel personalization offer a competitive edge to brands? An omnichannel strategy helps build customer experience, loyalty, and brand recall. Let's look at why: ● According to a recent study, omni-channel personalization has shown 90% higher customer retention rates than a single channel. Hence, this strategy is core to long-term business viability. ● Brands get the added advantage of profound insight into their customer's actions, allowing them to serve one-to-one contextually relevant products, content, or offers. ● A unified personalization strategy at scale provides brands with an opportunity to amplify their customer's shopping cart activity. In such cases, brands can engage customers on the purchase journey to increase the average order value through targeted offers and intelligent product recommendations. ● Personalization can lead to higher ROI on a brand's marketing spend. Brands can significantly boost their overall conversion rates with dynamic content based on customer behavior, clickstream data, context, product recommendation, and exclusive personalized offers. Enhancing the customer experience Capturing, engaging, and delivering a consistent experience across all channels is crucial for most brands. Brands must enhance their data-driven marketing efforts and personalize for customers at all touchpoints. For instance, a customer who browses an online store for a pair of jeans leaves without purchasing. So the brand now retargets the customer at various touch points like SMS, email, and social media, offering the product at a discounted rate, which intrigues them to buy. Knowing the customer and enhancing the buying experience will help brands retain customers and build loyalty. Building a successful omnichannel strategy Omni-channel personalization for brands in the current scenario has become an essential part to provide consistent and unparalleled service across all touchpoints. Therefore, brands need to prepare a successful omnichannel strategy to opt for a personalized experience. Define a clear strategy and build a feedback loop for learning: It is essential to have a clear vision of the critical moments in a customer's journey. In most cases, the journey can be broken into three stages: ● generating awareness pre-visit ● conversion during the visit ● customer engagement post-visit Insights derived from each stage can be leveraged to develop user journeys that meet defined objectives and bring value to the customer and profitability to the brand. Connect multiple digital touchpoints The most crucial step in building omni-channel strategies is to connect with the customers' digital footprint. For instance, an e-commerce brand would need to focus on all five customer touchpoints where potential convergence happens: mobile app, website, digital ads, social media, chatbot platform, and point of sale. To achieve the best of these touchpoints, brands must consider delivering a great personalized customer experience consistently. Think automation Automation opens new opportunities for brands to provide personalized experiences across all the touchpoints at scale. By deploying AI-powered automation, brands can leverage omni channel orchestration based on customers' channel preferences. Future of omnichannel personalization In the era of digital disruption, brands must adopt newer strategies to engage with customers. Some of them include: Gamification: Gamification along with personalization can make the entire shopping experience fun. Whether it is the e-commerce or the insurance sector, the platform becomes more attractive to end-users when it is gamified. Gamification coupled with omnichannel personalization can redefine user engagement for brands. <keyword id="757624" type="General" weightage="20" keywordseo="mobile-commerce" source="Orion">Mobile Commerce</keyword>: With greater adoption of mobile phones, mobile commerce will see massive traction in the coming years. Chatbots have been estimated to be vital to pushing transactions and conversions, and a major part of these transactions in India are expected to take place through the mobile-channel in days to come. Customers expect deeper connections with brands, and omni-channel provides a quick and efficient way to deliver superior shopping experiences. Hence, companies need to look at how this technology can automate their workflow, help them drive sales and build competitive advantages in their markets.

Omni-channel personalization is the future of marketing: The onset of a new era

<ul class="summary-list"><li>Social media can help small businesses find customers, but the platforms regularly change algorithms.</li><li>With the holidays approaching, it's crucial to promote your brand on social ahead of the shopping season.</li></ul>Social media apps like Instagram and TikTok have been critical for small-business owners looking to promote their startups. However, as social companies change their algorithms, many entrepreneurs are confused about which platforms and types of content grab audiences. The stakes are high for small-business owners who are hoping for a <a href="https://www.businessinsider.com/how-to-reinvest-profits-into-your-small-business-q4-holiday-2021-11">fruitful fourth quarter</a> ahead of what <a href="https://www.businessinsider.com/next-growth-recession-2023-outlook-more-likely-shallow-and-manageable-2022-11">experts say is a likely recession next year</a>. Despite the perplexity among small-business owners, many have launched comprehensive social-media marketing campaigns in the hopes of converting users into paying customers. Their strategies include tactics like trend repurposing and strategic platform usage.<h2>1. Create content the algorithm will reward</h2>Kar Brulhart, a social media strategist and coach, said Instagram has been actively updating its app in the last year. "Instagram likes when we use new features, it tends to push content out that uses new features," she added. Understanding the <a href="https://www.businessinsider.com/instagram-algorithm-reels-hurt-business-social-media-strategies-for-growth-2022-3">constantly changing</a> algorithms and tools is how Lisa Andrea, founder of digital financial guide, <a href="https://www.thefinancialcookbook.com/">The Financial Cookbook</a>, found success online."That's ultimately what's going to make you successful on social media," Andrea said. She regularly conducts research on algorithm changes by reading the latest platform memos and watching YouTube videos from full-time creators and reputable social-media coaches. <h2>2. Focus on platforms that serve your current purpose</h2>Different social media platforms serve different purposes, agreed the entrepreneurs who spoke with Insider. For example, TikTok's focus on virality helps business owners find new and wider audiences, while Instagram tends to yield sales."We're thinking about how can we have an omnichannel marketing strategy, meaning show up on multiple platforms and get more eyes on your content," Brulhart said. However, where your content is displayed depends on what you're using the platform for, she added. For instance, if you're attempting to create content that continues to find eyes, try platforms with a longer shelf-life like YouTube, she said.<h2>3. Use cross-platform promotion to grow effectively</h2>Cross-platform promotion is an effective way to live on these multiple platforms, said Brulhart and Andrea. Any content shared on one platform can be repurposed for another, they added. "Maybe your goal is brand awareness, so you're creating content that's delightful, that's saveable, and that talks about how you help people," Brulhart said. "You can repurpose that across channels."Kelsey Floyd, who runs a pottery business called <a href="https://my-muse-pottery.myshopify.com/">My Muse Pottery</a> as a side-hustle to her social-media career, is a proponent of cross-promotion, she said. Despite starting her social media career on Instagram, Floyd now also posts on TikTok to share videos of her pottery business with those who don't follow her on Instagram. <h2>3. User-generated content will grab and engage audiences</h2>User-generated content — where a company account posts content shot or filmed by users — is another way to repurpose content, said Delsy Gouw, an entrepreneur. <a href="https://itsmemorialday.com/">Memorial Day</a>, Gouw's line of hand-crocheted bathing suits and accessories, blossomed from a side hustle into a full-time company after she reposted photos of celebrities wearing her products. For example, photos of the musician <a href="https://www.instagram.com/p/CZ1lr5Nl7ej/">Dua Lipa</a> and the model and influencer <a href="https://www.instagram.com/p/CVIk_G1hS5s/">Kiko Mizuhara</a> appear on the Memorial Day Instagram account. "My initial strategy was to work with smaller influencers, because you never know where it can take you," Gouw said. "Once one celebrity wears it, then another celebrity wants to show their support."<h2>4. Use influencers to expand your audience</h2>Influencer marketing is a continually growing sector of social-media marketing. Small businesses should also test out branded partnerships and paid ads with nano-, micro-, and macro-influencers, said Kar Brulhart, a social-media coach and expert. Even small businesses lacking hefty budgets can tap influencer marketing by combining monetary payments with free products, Brulhart added. She and her clients compile lists of all the influencers they hope to partner with, contact them, include a pitch deck about a potential partnership, and explain their preferences for branded posts. But small-business owners should be sure to include contracts for all branded partnerships, she said. "The No. 1 mistake people make with influencers is that they just send them a product, and then tell them to send them photos and post about it," she said, explaining that a more concrete agreement should be put in place.

4 entrepreneurs share cost-effective strategies for finding customers on social media

<ul><li>The fashion carnival is slated to be held between October 16 and 22, and will showcase close to 2 lakh new styles over the last festive season.</li><li><keyword id="319719" type="COMPANY" weightage="20" keywordseo="Myntra">Myntra</keyword> has scaled its MENSA network to 18,000 Kirana partners, to fulfill 70% of the festive deliveries.</li></ul> Myntra will be holding its '<keyword id="10055257" type="UNKNOWN" weightage="20" keywordseo="big-fashion-festival">Big Fashion Festival</keyword>' October 16 and 22 and expects a 2X increase in traffic over the previous festive season. Myntra’s holistic approach to its marketing campaigns, ahead of the event, with Bollywood, Tollywood and other regional celebrities, along with top T20 teams, is expected to reach 150+ million people across the nation. The upcoming edition of the fashion event is also set to witness a massive uptick in demand according to the brand, at 4X over BAU and 2X over the last festive season, with 50% of the contribution coming from Tier 2-3 markets. Myntra is geared to handle the increase in traffic with tech capabilities, scaled to operate at 20,000 orders per minute at peak. Biggest ever Fashion and Lifestyle selection Myntra has scaled its collection by 2 lakh styles, over the last festive season, and has also launched region-specific ethnic collections from various parts of the country underscoring the role of fashion during festivities. In order to cater to the consumer’s festive preferences, Myntra’s selection ranges from the evergreen regional specialties such as bandhani, benarasis, kaantha, kanjeevaram and chikankari, to more experimental trends such as ruffle sarees, shararas and asymmetrical kurtas. <keyword id="2799949" type="COMPANY" weightage="20" keywordseo="Myntra-Fashion-Brands">Myntra Fashion Brands</keyword> (MFB) will have a wide range of collection for men and women from brands, including, House of Pataudi, Anouk, Taavi, HRX, Wrogn during the seven days long festive event. There will also be a large focus on 'above the waist' looks and work from home wear with the nature of social events and celebrations becoming virtual. To cater to this change in fashion consumption patterns, there is a higher emphasis on selection across t-shirts, tops, dresses, kurtas, accessories, jewellery, sports footwear, winter wear, beauty and personal care categories. The apparel category on Myntra is slated to contribute ~70% to festive demand on the platform, with other key categories being, kidswear, footwear, home and personal care and accessories. Investments in safety Myntra is prioritizing safety above all aspects. From warehouses and fulfilment centers, to the customers’ doorsteps, there are numerous protocols on safety, which are strictly being adhered to by employees, delivery personnel, MENSA partners, brand partners, and even customers. These include, following strict social distancing norms, regular temperature checks, frequent sanitization of facilities and delivery bags, ensuring the use of PPE’s at all times, frequent hand sanitization and more. Customers are encouraged to undertake contactless deliveries and use digital modes of payment. Speaking about Myntra’s upcoming Big Fashion Festival, Amar Nagaram, CEO, Myntra said, “Myntra’s Big Fashion Festival will offer a specially curated selection of 9 lakh styles for consumers across the country, awaiting to bond over the joy of festivities. The region-specific collection will enable millions of consumers with diverse fashion choices, to celebrate the festive diversity of the country. The consistent momentum in demand observed over the last few months has given impetus to our brand partners, driving deeper collaborations this festive season. An event of this unprecedented magnitude is also set to provide thrust to Myntra’s ecosystem, especially the artisans, MSMEs, and our Kirana store partners.” Unique offers and early access There will be a ‘Grand Opening Hours’ offer for 2 hours on October 16 starting midnight, with the best value deals from top brands such as Puma, Vero Moda, GAP, Roadster, Nike, Levis and more. Myntra has also launched a ‘Play &amp; Earn’ feature where users will be able to play games and redeem their stars to get the Gold slot which will give them a window of 4 hours to shop before the event begins. All customers will be able to avail 10% instant discount on ICICI Bank debit and credit cards during the event. Over 45 celebrities and 80+ influencers are being engaged with, to harness the reach of Myntra Studio and social media platforms, to drive customer engagement. Top international and domestic brands are also set to offer ‘Deal of the Day’, to Myntra Insiders, through the seven-day period, with the top 3 tiers of the brand’s loyal customers getting Myntra vouchers worth up to Rs 1000. Role of <keyword id="2535292" type="COMPANY" weightage="20" keywordseo="Omni-channel">Omni-channel</keyword> Overall, Myntra has integrated more than 1000 stores from close to 100 brands on its platform so far to ensure that the customers get their orders delivered to their doorstep in the shortest possible time. Giving a major boost to the omni channel strategy ahead of the festive season Myntra has partnered with a dozen new brands across categories, giving customers access to new season collections from their stores across the country. Logistics and supply chain Myntra’s fulfillment centers across the country are using automation to enhance the speed of packaging, quality control process and expedited shipping. The company has added three packing centers and seven mother hubs ahead of the festive season for processing faster deliveries during the event. Myntra has also given a major boost to its supply chain network, including MENSA partners and has increased its capacity of last-mile deliveries by adding ~600 dexters and 6000 new kirana store owners, over the previous festive season to reach 27000 pincodes.

Myntra expects 2X increase in traffic over the previous festive season in its upcoming Big Fashion Festival

<ul><li>The time following the <keyword id="91743" type="PERSON" weightage="20" keywordseo="lockdown">lockdown</keyword> has been difficult for the <keyword id="550921" type="PERSON" weightage="20" keywordseo="stationary">stationary</keyword> industry, since educational institutes and offices have remained closed. </li><li><keyword id="477533" type="PERSON" weightage="20" keywordseo="Tanveer-Khan">Tanveer Khan</keyword>, Director, Marketing at <keyword id="6330680" type="UNKNOWN" weightage="20" keywordseo="BIC-Cello">BIC Cello</keyword> India tells us how the brand has been making smart portfolio choices and focusing on expanding its presence online to ensure its products can reach it consumers, at home.</li></ul>Last year, when Prime Minister Narendra Modi first announced the lockdown, none of us would have thought that we would still be dealing with the pandemic, more than a year later. The last one year has been challenging for businesses across segments and the stationery segment is no different. With the closure of schools, colleges and offices, and the rapid digitalization of courses, the industry was hit hard. According to Technavio, the global <keyword id="11135608" type="UNKNOWN" weightage="20" keywordseo="consumer-stationery-retailing">consumer stationery retailing</keyword> market is expected to grow by $6.35 billion during 2020-2024. However, according to experts in India, the industry has witnessed a decline of around 35%, owing to the closure of educational institutions across the country. During a normal year, the industry witnesses a peak in demand during the months that schools re-open, the beginning of financial years and even during the festive months. However, last year things were subdued and despite the hope that this year will be better, the increasing Covid numbers tell us that we are still a substantial amount of time away from normalcy. So how is BIC Cello, a prominent player in the stationary segment dealing with the situation? We spoke to Tanveer Khan, Director, Marketing at BIC Cello India, to find some answers. Excerpts: <cmsannotation type="cmsannotation" annotationid="Q) With students not going to school for close to a year now, how have things changed for you as a brand?" text="Q) With students not going to school for close to a year now, how have things changed for you as a brand?">Q) With students not going to school for close to a year now, how have things changed for you as a brand?</cmsannotation> The interim closure of educational institutions has not only impacted the education sector but other ancillary businesses including the stationery segment. The industry witnessed a decline of approx. 35% in 2020 versus 2019 in Traditional Trade sales. We also noticed a similar trend for our core business i.e., writing instruments. However, because of growing internet penetration and shift to digital mediums, we registered an increase in demand for our writing instruments, arts and craft product segments on all key e-commerce platforms. From a business standpoint, we anticipate recovery in traditional trade in the second half of 2021 with gradual opening of schools, colleges and offices. Overall, with an increased focus on education and a growing young population, the outlook remains strong for the stationery segment in India. <cmsannotation type="cmsannotation" annotationid="Q) Did you have to completely rethink how you approached consumers in the last one year and increase more presence online rather than offline?" text="Q) Did you have to completely rethink how you approached consumers in the last one year and increase more presence online rather than offline?">Q) Did you have to completely rethink how you approached consumers in the last one year and increase more presence online rather than offline?</cmsannotation> The biggest takeaway for us from 2020 was the importance of having a balanced portfolio that reaches consumers through multiple channels. Building a robust omni-channel presence which leverages our full portfolio has been part of BIC Cello’s strategy and 2020 only accelerated our actions in this direction. We increased our investments substantially to engage with e-commerce consumers last year. We will continue to focus on strengthening our omni-channel marketing this year and provide consumers with a seamless experience no matter where they are. <cmsannotation type="cmsannotation" annotationid="Q) Schools, colleges, and offices being shut also meant both children and adults had more time at home. Did you see that result in an increased demand for certain segments of products for you, like DIY, arts and crafts etc?" text="Q) Schools, colleges, and offices being shut also meant both children and adults had more time at home. Did you see that result in an increased demand for certain segments of products for you, like DIY, arts and crafts etc?">Q) Schools, colleges, and offices being shut also meant both children and adults had more time at home. Did you see that result in an increased demand for certain segments of products for you, like DIY, arts and crafts etc?</cmsannotation> The pandemic and the resultant lockdown have been difficult for everyone. More so for parents, who have been scrambling for resources to keep their kids engaged in productive activities. As part of a recent survey that we had conducted in December 2020, we found that the average spending on school supplies shot up from Rs 8,000 to 20,000 or more, primarily due to investment in electronic items, while a significant dip of Rs 5,000 seen in stationery. Staying at home has given children time to pause, refuel and spend quality time with their parents. They are expressing themselves creatively through offline activities, such as colouring and drawing along with their parents. An interesting trend to note here is that colouring was not only limited to younger kids, but children across all ages and a segment of adult audience also took to colouring to engage themselves. At BIC Cello, we are proud to provide families and children with essential tools they need for learning, working and self-expression, and we hope we can continue to help spark a little joy and imagination during these difficult times. <cmsannotation type="cmsannotation" annotationid="Q) What has your strategy in 2021 been, in terms of ensuring that the business impact of another lockdown like this is minimal?" text="Q) What has your strategy in 2021 been, in terms of ensuring that the business impact of another lockdown like this is minimal?">Q) What has your strategy in 2021 been, in terms of ensuring that the business impact of another lockdown like this is minimal?</cmsannotation> We have been able to accelerate growth in our arts and colouring segment along with e-commerce business. We turned to moment marketing and trending conversations to get our message across our audiences. 2020 was all about molding the brand to create relevant conversations around different occasions to engage our consumers. For instance, we created content on our colouring range – ColourUp on digital and social platforms, giving a chance for our audience to engage with the brand from the comfort of their homes. We also shared topical content and provided people with ideas on how to keep children busy by giving wings to their imagination with our art and craft range. We teamed up with Disney’s ‘Imagine That’ last year, where Harun Robert, who is popularly known as Rob, (anchor) showed children interesting and exciting ways to create things creatively with Cello ColourUp Colouring range. Having said this, we have been working towards building a robust e-commerce portfolio by introducing new products across segments. Lastly, we have been monitoring the situation on-ground and working with our trade partners in ensure right assortment availability across channels. <cmsannotation type="cmsannotation" annotationid="Q) What has your broader marketing strategy been? How have you made sure you come to your consumer's minds whenever they think stationery?" text="Q) What has your broader marketing strategy been? How have you made sure you come to your consumer's minds whenever they think stationery?">Q) What has your broader marketing strategy been? How have you made sure you come to your consumer's minds whenever they think stationery?</cmsannotation> At BIC Cello, our marketing strategies have been simple. We want our products and our communication to connect and resonate with our consumers. To be able to achieve this, we follow a two-pronged approach: Segment Focus –Our robust portfolio has a wide range of stationery products which include ball pens, gel pens, fountain pens, roller pens, permanent markers, whiteboard markers, colour markers, office &amp; school stationery, and diverse coloring range which we launched recently. Product innovation and a diverse portfolio that answers consumer needs are key to building a strong brand. BIC-Cello products play a key role in the development of students’ intellect and creativity. We engage with our consumers on key occasions such as exam time, summer break, back to school, etc. to help them develop their skills and creativity. While we are market leaders in the pen segment, we will continue to develop &amp; expand our colouring and marking range to strengthen the Joy Of Expression. Channel Focus– Trade: When it comes to trade channels, we aim to Build a robust omni-channel presence which leverages our portfolio. This involves innovating and promoting the right assortment with the right visibility across all channels like Traditional Trade, Modern Mass, eCom, etc. Media: We command the highest level of consumer awareness in the stationery segment which is a reflection of our ability to smartly use various media channels. We choose media channels as per the objective of the activity we want to carry out. We use mass media channels, like TV, outdoor, etc., for generating awareness for new products/segments. We use digital channels, to increase our brand consideration and engage with consumers in a meaningful way throughout the year. Content Focus -Strong engagement is driven by integrating meaningful content &amp; product performance. For example, for Cello ColourUp colouring range, our social handles push a lot of content around unique ways to engage &amp; inspire children through DIY activities. We focus on educating consumers on the importance of creating the right environment for children, using crayonsto spur creativity and improve motor skills, that will fuel their cognitive development. <cmsannotation type="cmsannotation" annotationid="Q) How have consumer preferences evolved and how have you as a brand made sure you could adapt to these changes?" text="Q) How have consumer preferences evolved and how have you as a brand made sure you could adapt to these changes?">Q) How have consumer preferences evolved and how have you as a brand made sure you could adapt to these changes?</cmsannotation> We observed radical shifts in consumer behavior last year. To understand the changes better, we conducted an in-depth survey across India to assess the impact of the pandemic on parents and their children’s education. The survey results revealed interesting insights on how Indian parents coped up with their new role as home-tutors as well as their key concerns right from increased costs of school supplies to managing children's screen time.Staying at home gave parents a lot of quality time to spend with their children. A large fraction of parents admitted that screen time has significantly increased for their kids and that they were trying to engage their children more with offline activities, such as coloring, to help them express their creativity. Additionally, the rise in digital content and influencer marketing around stationery products has led to more awareness and understanding of exciting options available in the market. Gone are the days where stationery was viewed as a functional and low involvement category. Today, our audiences are choosing stationery as a style and personality statement and are open to experimentation with brands of high price-points. Therefore, our focus is to further develop our digital footprint and continuously engage with our audience, to further ideas on learning &amp; creativity using our stationery range. <cmsannotation type="cmsannotation" annotationid="Q) What kind of investments are you thinking of making this year on marketing?" text="Q) What kind of investments are you thinking of making this year on marketing?">Q) What kind of investments are you thinking of making this year on marketing?</cmsannotation> At BIC Cello, our media channel investment has always been a healthy mix of TV, print, outdoor,online and digital mediums. Because of the impact of COVID-19 and subsequent lockdowns, we have calibrated our media investments vs previous years, we will move away from outdoor spends such as billboards, metro and bus station advertising and switch to channels to reach our consumers at home. The pandemic has impacted consumer sentiments negatively, it has set the base for creating inspiring, meaningful and purpose-led communication with consumers. Our communication approach is to make more creative and engaging content which will allow us to make deeper connections with our consumers. <cmsannotation type="cmsannotation" annotationid="Q) Going ahead, what will your key focus areas be to make sure you are able to capture a larger market share?" text="Q) Going ahead, what will your key focus areas be to make sure you are able to capture a larger market share?">Q) Going ahead, what will your key focus areas be to make sure you are able to capture a larger market share?</cmsannotation> We believe our omni-channel approach, supported by meaningful portfolio choices, will help us gain share. We are the leaders in the pens segment, and we aim to expand our leadership to other stationery segments. Consumers have adopted digital as a communication channel and e-commerce as a preferred channel for purchase. These will continue to be a key focus area. <cmsannotation type="cmsannotation" annotationid="Q) In the global scheme of things, how important is the Indian market for BIC Cello and what kind of investments can we expect in the country?" text="Q) In the global scheme of things, how important is the Indian market for BIC Cello and what kind of investments can we expect in the country?">Q) In the global scheme of things, how important is the Indian market for BIC Cello and what kind of investments can we expect in the country?</cmsannotation> India is a critical and exciting market for us at BIC. India’s growing education sector offers tremendous growth potential for the local stationery market. India has nearly 300 million students, which is equivalent to a country altogether. These includes school-going children, graduate and post-graduate students using stationery equipment. The increasing number of schools and offices, coupled with improved standard of living, will result in more people purchasing stationery products and it will aid the shift from buying cheap poor performing stationery products to higher priced good quality products. With impetus by the Government of India through policies like National Policy on Education and Sarva Shiksha Abhiyan, I can firmly say that this sector will see a sustained growth in the coming years. BIC Cello will continue to build in market capabilities in India, we are evaluating enhanced levels of investments behind both customers and the consumers.

How BIC Cello is focusing on omni-channel marketing and meaningful portfolio choices to gain market share

<ul class="summary-list"><li>Q4 is often the most important time of year for small-business owners who are hoping to reap holiday sales.</li><li>However, in the last two years, many entrepreneurs have faced challenges such as supply chain woes.</li></ul>For many small-business owners, the <a href="https://www.businessinsider.com/how-to-reinvest-profits-into-your-small-business-q4-holiday-2021-11">fourth quarter is the most vital time</a> of year as entrepreneurs hope to net strong holiday sales. In fact, 24% of the <a href="https://investors.amexglobalbusinesstravel.com/investors/news/news-details/2022/New-American-Express-Survey-Shows-60-of-U.S.-Small-Businesses-are-Investing-in-Cash-Flow-Tools-Ahead-of-the-Holidays-/default.aspx">550 entrepreneurs surveyed</a> between September 20 and October 3 by fintech firm Kabbage, which is owned by American Express, said their upcoming holiday sales will determine if their business can survive into next year.However, throughout the pandemic, many small-business owners have faced challenges during the holidays, such as rising inflation, supply chain woes, and changing consumer habits. Today, they're anticipating these hurdles and creating solutions to navigate them.Here are the strategies small-business owners are tapping ahead this holiday season. <h2>Order plenty of products</h2>For example, 30% of the 550 entrepreneurs surveyed said they were stocking up on inventory. That's because 74% said they were worried about supply chain issues heading into Q4. Dara Weiss, cofounder of candle brand L'or de Seraphine, hatched a similar inventory strategy this year. Due to the unpredictability of manufacturing and shipping timelines, she <a href="https://www.businessinsider.com/how-business-owners-can-prep-holidays-supply-chain-inflation-2022-9">previously told Insider</a> she stocked up on products to ensure she'd have enough for the holiday season. "Everybody is more sensitive now than in the past to having that product early," she said.<h2>Invest in marketing tools</h2>Meanwhile, 27% of small-business owners are <a href="https://www.businessinsider.com/holiday-shopping-supply-chain-how-businesses-can-prepare-2021-11">managing customer expectations</a> and setting realistic shipping dates in case there are potential supply chain issues, the survey found. And 23% are investing in marketing tools as they reconsider their cash flow management, the survey found. Marketing tactics can include social media strategies such as user-generated content, where a business account posts content shot or filmed by users. This is often a free and shrewd way to repurpose content, Delsy Gouw, founder of hand-crocheted bathing suit line Memorial Day, <a href="https://www.businessinsider.com/how-to-promote-business-on-social-media-go-viral-influencers-2022-4">previously told Insider</a>. "My initial strategy was to work with smaller influencers, because you never know where it can take you," Gouw said. "Once one celebrity wears it, then another celebrity wants to show their support."It's also important for entrepreneurs to know which social media platforms are the best for their desired outcomes. For example, TikTok may be a good place to try and go viral but YouTube has a longer shelf life, which can help attract new customers, Kar Brulhart, a social media strategist and coach, <a href="https://www.businessinsider.com/how-to-promote-business-on-social-media-go-viral-influencers-2022-4">previously told Insider</a>. "We're thinking about how can we have an omnichannel marketing strategy, meaning show up on multiple platforms and get more eyes on your content," Brulhart said.

A quarter of entrepreneurs said holiday sales will determine if their businesses can survive in 2023. Here are 2 strategies they're implementing to save them.

<ul><li>In our latest interview series, we speak to a few CMOs to understand how they are helping out their organisations find the right ways to connect with consumers.</li><li>Sapna Arora, CMO, <keyword id="6360657" type="COMPANY" weightage="20" keywordseo="olx">OLX</keyword> shares with us how her role has changed over the last few months and walks us through the platform's combat strategy for the horrifying second wave of COVID-19. </li></ul> As India reels through a dire second wave of the COVID-19 pandemic, brands are trying to be there for consumers, to help them through these testing times. Till the time the number of positive cases in India declines, it’s not business-as-usual for brands. The overall sentiment of the audience is also grim and brands are trying to be there for consumers in spirit with their consoling marketing campaigns or by donating a part of their CSR budgets. Omni-channel marketplace OLX has altered its marketing approach to be relevant today. It has updated its communication and messaging by focussing on community building and using its platform to amplify pleas on social media. <div type="javascript" title="Instagram" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div> <div type="javascript" title="Instagram" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div> Sapna Arora, CMO, OLX has found her role changing as a marketer and brand custodian. Her mantra has been to be agile, resilient, empathetic, helpful and kind. The horrifying scale of the second wave has made all playbooks on marketing redundant. Last year, CMOs in India focused on shifting their marketing monies from traditional mediums to digital platforms. Now, Arora’s role at OLX has been about helping the brand adjust to the sudden changes in the macro-environment, prepare for the uncertain tomorrow, use communication tools to help out customers and address vaccine hesitancy. Arora further shared with us how the second wave has changed OLX’s priorities, what route should marketers take to and much more. Excerpts: <cmsannotation type="cmsannotation" annotationid="Q. How has your communication changed during what is probably one of the worst calamities we've faced in recent times? What is your B2C communication all about?" text="Q. How has your communication changed during what is probably one of the worst calamities we've faced in recent times? What is your B2C communication all about?">Q. How has your communication changed during what is probably one of the worst calamities we've faced in recent times? What is your B2C communication all about?</cmsannotation> It’s true, an emergency of this magnitude, felt across all nations, and for such a prolonged time, has not been witnessed before, not in the last 100 years. Rare complications are further deepening the crisis. We are moving with caution and with empathy. Our communication has vastly changed. How we collectively arrest the progression of this disease will be the litmus test to our awareness as a society. Our endeavour is to ensure that we remain relevant to our users at all times. We have opened up our social media handles to people seeking help, allowing all users to leverage our large reach and ensure wider sharing of messages. To reach out further, we have started donation drives and have partnered with Give India to provide food to Covid-affected families. Brand messaging now shows our side of care, offering comfort, encouragement and hope, addressing vaccine hesitancy, encouraging masking, sanitising, staying home, staying safe, connecting plasma donors with recipients, warning about fraudsters, and so on. It’s no more just a transactional relationship. We have to be real and relevant and show purpose, that’s what’s expected of leading brands at this time. <cmsannotation type="cmsannotation" annotationid="Q. How has your schedule changed as a CMO during the second wave? What are some of the new tasks that you are doing? Can you draw a comparison between last year's lockdown with this year's?" text="Q. How has your schedule changed as a CMO during the second wave? What are some of the new tasks that you are doing? Can you draw a comparison between last year's lockdown with this year's?">Q. How has your schedule changed as a CMO during the second wave? What are some of the new tasks that you are doing? Can you draw a comparison between last year's lockdown with this year's?</cmsannotation> We don’t know how fast we’ll be able to bounce back from the second wave or what the next normal will be like. The buoyancy that emerged after the first wave was quickly dissipated in the second wave. We need to ensure business continuity, as well as show empathy to consumers, and also within the organisation. There’s no playbook to dip into for response planning. On the business side, among the new tasks, is to offer better content experiences to online consumers, touch more and more digital access points. We had plans that needed to be modified, and that has been the impact on my schedule. The messaging has moved to not just about updating product news, but also to show a higher degree of sensitivity and resilience. Agility, along with mission and purpose, are the reigning marketing principles now. Last year, it was all about digitising, educating people about the virus, hand hygiene, and celebrating frontline heroes. This year, it’s more about reaching out, about vaccines, medicines, oxygen supplies, and offering a helping hand. Affirmative story-telling is at heart of the new reset. Soon after the crisis is sorted, our new tasks would be to think hard about what consumers in the next normal would want. We’ll certainly have to redesign shopping journeys for our consumers, develop adaptive ecosystems, and so on, but as of now, that can wait. <cmsannotation type="cmsannotation" annotationid="Q. As a company, how are you using your advertising tools to help out people?" text="Q. As a company, how are you using your advertising tools to help out people?">Q. As a company, how are you using your advertising tools to help out people?</cmsannotation> The scale and ferocity of the second wave has altered all understood paradigms. There are heart rending stories of loss, and people are talking only about essentials, about conscious consumption. At a time when everything feels impossibly hard, there is a greater need to remain optimistic and to steer hyper-local activations. We are infusing positive content across our digital platforms. Responsible brands are expected to have a wider agenda. While social media is full of all kinds of content on the virus, reliable and trustworthy content is hard to find. We have opened up our social media handles for all Covid related queries, people can post their SOS calls, run enquiries that will help them reach wider audiences due to the vast reach of our brand, and we are helping in food supplies for affected families. We are also running campaigns on public discipline, on all our social media handles. <cmsannotation type="cmsannotation" annotationid="Q. How has your role as a marketer changed?" text="Q. How has your role as a marketer changed?">Q. How has your role as a marketer changed?</cmsannotation> With the constant change that we are all experiencing, like the shift in containment zones, virus mutations, gaps in vaccinations, and so on, our roles, tasks and priorities have also been changing. Stakeholders, consumers and employees are looking at the brand, to know what we stand for, what values we uphold. We need to be realistic in our expectations, our goals, and in our messaging. To gain trust, we need to listen to our communities, employees and customers. We are looking beyond the traditional spaces of marketing, such as advertising and market-driven campaigns, to be relevant to people. We have tweaked our social media content around Covid-related information, encouraging people to vaccinate and to remain masked. <cmsannotation type="cmsannotation" annotationid="Q. What is your goal for this quarter? How have your goals changed due to the second wave?" text="Q. What is your goal for this quarter? How have your goals changed due to the second wave?">Q. What is your goal for this quarter? How have your goals changed due to the second wave?</cmsannotation> We have recalibrated our goals, from being number centric to being centred around how our resources can help communities. The goal presently is revolving around building strong connections with our consumers, fostering emotional togetherness while remaining socially distanced, to suppress virus spread. As a brand, we have come forward, using technology to build cohesive customer experiences. We recognize the human tragedy, and also the need to keep business running. As we understand now, the situation will rise and flare up at different times in different market segments. We will be mindful enough to act accordingly, and will continue to rejig our messaging, to show resilience and empathy. One can’t think in silos, or take an absolute stance amid such volatility. <cmsannotation type="cmsannotation" annotationid="Q. As a leader, how are you trying to be there for your employees?" text="Q. As a leader, how are you trying to be there for your employees?">Q. As a leader, how are you trying to be there for your employees?</cmsannotation> At this time, CMOs need to help their organisations adjust to the new realities. We have moved swiftly to expand our digital operations. The pandemic has deeply impacted the way businesses work. We have to show resilience, adaptability and help each person in the organisation to deal with the change. It’s a volatile situation, people are anxious, jobs need to be saved. We have adopted a people-first approach. Our teams have prioritised physical and emotional well-being of all. <cmsannotation type="cmsannotation" annotationid="Q. No communication or relevant/empathetic communication? Which route should a brand take during difficult times like these?" text="Q. No communication or relevant/empathetic communication? Which route should a brand take during difficult times like these?">Q. No communication or relevant/empathetic communication? Which route should a brand take during difficult times like these?</cmsannotation> In times of crisis, governments, as well as employees and consumers look up to their brands for answers. We have to cut the clutter, come on the front foot, move in the direction of the prevailing collective sentiment. By showing compassion, offering hope and understanding, and delivering relevant and trustworthy messages, brands show purpose, and better connectivity with their consumers. When a brand has reach and voice that can impact lives, the expected course of action is to come forward and help. At OLX, we are mindful of our responsibilities, and are addressing community pain points. Purpose establishes a brand’s culture and strong ethics. It has always been part of top brand cultures of the world. Now it’s playing a central role. <cmsannotation type="cmsannotation" annotationid="Q. What are your areas of focus for now?" text="Q. What are your areas of focus for now?">Q. What are your areas of focus for now?</cmsannotation> Till the time the Covid positivity rate declines, it’s not business-as-usual. We cannot afford to drop the ball. We are updating our messaging, focussing on community building; care is central to the underlying thrust right now. Our messages are helpful and uplifting. Holding each other’s hand, we have to steer a route for recovery.

Affirmative storytelling is at heart of the new reset: Sapna Arora of OLX

<ul><li>The <keyword id="10974562" type="UNKNOWN" weightage="20" keywordseo="watches-and-wearables">Watches and Wearables</keyword> division of the <keyword id="1824765" type="DOMAIN" weightage="20" keywordseo="Titan-company">Titan Company</keyword> has been witnessing a good recovery since Q2FY21. The aim is to be able to bring back growth by Q1FY22.</li><li><keyword id="353926" type="PERSON" weightage="20" keywordseo="Suparna-Mitra">Suparna Mitra</keyword>, Chief Executive Officer, Watches and Wearables Division, at Titan Company tells us their areas of focus to bring back growth.</li></ul>The year 2020 was difficult for all of us. Businesses witnessed slowdowns and many are still on their way to recovery - slowly but steadily. However, the watches and wearables division of the Titan Company started seeing recovery from Q2 and Suparna Mitra, Chief Executive Officer, Watches and Wearables Division, at Titan Company Limited is confident that the business will enter its growth phase in Q1 FY22. Titan Company, despite being a <keyword id="10974561" type="UNKNOWN" weightage="20" keywordseo="legacy-brand">legacy brand</keyword>, has over the years, focused on innovation and creating products that are relevant to the changing consumer needs. It has listened to its consumers while crafting its products and that has helped the brand stay ahead of the curve. In its Q3 results for FY20-21, the Titan Company stated that its Watches and Wearables division witnessed around 88% recovery and things are only looking up. We recently caught up with Mitra to understand the brand’s areas of focus, to keep up with the growth momentum and here’s what she had to say: <cmsannotation type="cmsannotation" annotationid="Q)Watch is typically a non-essential category and yet in a year when people were careful about spending, you have been able to see recovery. How did you ensure consumers came back to your brand?" text="Q)Watch is typically a non-essential category and yet in a year when people were careful about spending, you have been able to see recovery. How did you ensure consumers came back to your brand?">Q)Watch is typically a non-essential category and yet in a year when people were careful about spending, you have been able to see recovery. How did you ensure consumers came back to your brand?</cmsannotation> The category witnessed a slow start to 2020. Consumer demand in fashion accessories started picking up steadily from Q2 onward, and we saw a good recovery during the festive season. We introduced a lot of new collections in the wearables space to tap into the newer consumer trends. We launched Titan Pay – the first payment watch of India, in association with State Bank of India, to cater to the growing need for contactless payments. We also launched our first full touch smartwatch – Titan Connected X, to cater to the demand for smartwatches with a contemporary stylish look, and this was very well received by the market. More recently, we launched TraQ by Titan, a performance tracking device and app targeted at thousands of people who have taken up active sports such as running, cycling and swimming. Even before the pandemic, we were seeing an increasing number of Indians take up such activities, aiming for a healthy and active lifestyle. The pandemic only accentuated this trend, with even more people adopting these activities towards fitness. We had also noticed that this segment was under-served. The options for performance tracking were limited, not widely available, and sometimes not very affordable. So we decided to create a range of performance tracking watches for the serious runner, cyclist and tri-athlete and the response to this product has been very encouraging so far. <ul></ul><cmsannotation type="cmsannotation" annotationid="Q) What were some interesting consumer trends you witnessed during the lockdown last year?" text="Q) What were some interesting consumer trends you witnessed during the lockdown last year?">Q) What were some interesting consumer trends you witnessed during the lockdown last year?</cmsannotation> While some consumers have resumed going to work, many are still operating from their homes. In our experience so far, we’ve seen a good recovery across our business and that’s largely true for the overall fashion accessories category as well. We realized that while people were locked down, they were feeling a lot of emotions towards their loved ones and all the missed milestones such as graduations, birthdays, anniversaries, new jobs, etc, that they were not able to celebrate. We used that for the Titan Gift a Smile campaign, exhorting people to reach out and thank loved ones with a gift. We also witnessed a rise in our average price points by a significant margin during this time, as gifting as a purchase trigger started working well for us. We also did a campaign called ‘Let's Get India Ticking’. It was not a watch campaign, but a category agnostic, brand agnostic campaign about getting consumption back. While WFH is a new phenomenon, and is likely to stay in some form, we see that watches as an accessory continues to see strong traction. The need for dressing up and looking good continues to be relevant and will be even stronger for festive occasions/celebrations. Watches continue to be a thoughtful and personal gift. <cmsannotation type="cmsannotation" annotationid="Q) What kind of business revival have you witnessed? Are things back to pre-COVID levels? If not, by when do you anticipate that will happen?" text="Q) What kind of business revival have you witnessed? Are things back to pre-COVID levels? If not, by when do you anticipate that will happen?">Q) What kind of business revival have you witnessed? Are things back to pre-COVID levels? If not, by when do you anticipate that will happen?</cmsannotation> The Watches and Wearables Division witnessed a recovery of 88% in Q3. We are looking at growth in Q1 FY 22. <cmsannotation type="cmsannotation" annotationid="Q) During the lockdown, the way you communicate with your consumers became critical. How did you ensure you stayed connected with your consumers?" text="Q) During the lockdown, the way you communicate with your consumers became critical. How did you ensure you stayed connected with your consumers?">Q) During the lockdown, the way you communicate with your consumers became critical. How did you ensure you stayed connected with your consumers?</cmsannotation> Our attempt was to continuously engage with the consumers through the lockdown. We conducted thousands of empathy calls to our customers across all stores in our network to check on their well-being. We also initiated several consumer engagement activities through our social media handles. We also created thoughtful campaigns around special occasions such as Mother’s Day and Father’s Day to communicate our sentiments and spread the message of hope and positivity that together, we will soonovercome these testing times. When the markets started opening up after the lockdown, gifting - which is a strong platform for watches, got an additional push as the idea of “self-gifting” became popular. Consumers were looking forward to rewarding themselves for having coped with the lockdown. They were also looking to celebrate important milestones that they had missed out on during the lockdown. The company curated “Gift a Titan Smile” initiative with an attempt to revive sales. Online has always been a big part of sales and we are doing a lot of digital <keyword id="6354839" type="UNKNOWN" weightage="20" keywordseo="marketing">marketing</keyword> activities. We are also driving a few Omni-channel initiatives such as video calling, where the store staff helps the customer select the watch they want and the sale is completed online. <cmsannotation type="cmsannotation" annotationid="Q) Consumer needs are evolving at a fast pace and Titan is a legacy brand. How do you ensure that you are in tune with these changing needs?" text="Q) Consumer needs are evolving at a fast pace and Titan is a legacy brand. How do you ensure that you are in tune with these changing needs?">Q) Consumer needs are evolving at a fast pace and Titan is a legacy brand. How do you ensure that you are in tune with these changing needs?</cmsannotation> The consumer is central to everything we do and their needs shape each and every offering we launch. We have several mechanism of capturing consumer voice. Besides formal market research, we do a lot of listening through one-on-one immersions with our loyalty program consumer base. We also use big data and analytics to predict micro trends which feeds into our communication and product plans for the upcoming seasons. We also have a process of capturing consumer feedback through our stores on regular basis. <cmsannotation type="cmsannotation" annotationid="Q) You have recently launched Titan Edge Mechanical. What was the thought behind this new offering?" text="Q) You have recently launched Titan Edge Mechanical. What was the thought behind this new offering?">Q) You have recently launched Titan Edge Mechanical. What was the thought behind this new offering? </cmsannotation> Over the last 37 years, we have always kept our customers’ needs at the heart of our product innovations. One of the most distinguished among them is Titan Edge – the world's slimmest watch that was launchedin 2002. Since then, Titan Edge has introduced some of the most interesting innovation under its umbrella like the Skeletal Edge collection in 2014 and Titan Edge Ceramic in 2017. We wanted to take Edge to the next level with a mechanical movement. This would combine the complexity of mechanical movement with the renowned slimness of Edge. The Titan team worked on this for 5 years and came up with the masterpiece – Titan Edge Mechanical, the slimmest mechanical watch made by an Indian watchmaker. This limited edition collection of 200 watches is a demonstration of Indian manufacturing prowess and marks the entry for Titan in the rarefied world of luxury watches. The Edge Mechanical appeals to three different segments. One is the large base of Titan Edge fans who have been waiting for the next offering from Titan Edge. It is also meant for consumers who appreciate mechanical movements and are current owners and connoisseurs of high end mechanical watches. Finally, for all those who have made their unique place in a new vibrant India, this is a rare combination of design and engineering coming together and they will wear this watch with pride in India and Indian brands. <cmsannotation type="cmsannotation" annotationid="Q) How are you going to market this range? Will it be a 360 degree approach?" text="Q) How are you going to market this range? Will it be a 360 degree approach?">Q) How are you going to market this range? Will it be a 360 degree approach?</cmsannotation> We launched a multimedia campaign with significant investments across print and digital mediums, along with proportional spends on social media, influencer marketing and in-app advertising. This was in line with our strategy to ensure optimum visibility for one of our finest timepieces, which marks our entry in the rarefied world of luxury mechanical watches. <cmsannotation type="cmsannotation" annotationid="Q) Give us a sense of what your ad spends this year will look like? Are you planning to increase it? What are the mediums you will be heavily investing on?" text="Q) Give us a sense of what your ad spends this year will look like? Are you planning to increase it? What are the mediums you will be heavily investing on?">Q) Give us a sense of what your ad spends this year will look like? Are you planning to increase it? What are the mediums you will be heavily investing on?</cmsannotation> We will be entering growth phase in Q1 FY 22 and our media spends will be in line with our growth objectives.Our campaigns will feature a 360 degree approach with investments across TV, OOH, print &amp; digital media. <cmsannotation type="cmsannotation" annotationid="Q) Going ahead, what will be your key areas of focus to grow the business further?" text="Q) Going ahead, what will be your key areas of focus to grow the business further?">Q) Going ahead, what will be your key areas of focus to grow the business further?</cmsannotation> Going forward, innovation will be a key growth driver for us. The trend for premiumization continues very strongly, even after the pandemic. Titan Edge Mechanical has opened new getaways for the brand in the premium segment. In the wearables space, key smart watches and smart bands segment has grown significantly in the last 3 to 4 years. These areas will be the pillars of future growth for the company. Our endeavour in Omni channel and phygital will also play a key role in offering a unified and enhanced experience, in line with shifting consumer buying behaviour.

The smart watches and bands segment has grown significantly in the last 3-4 years and will be the pillars of future growth for us: Suparna Mitra, Titan Company

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