As the Euphoria for GST is dying down and the date of implementation is coming nearer, many of the unsolved tangles are getting clearer by the day. My feeling is that, we are going to get into the routine of GST pretty fast and it will not disrupt our routine of business. The pace of business has been good in March but couldn’t be sustained in April I am told. The customers have many avenues for purchase today and he or she is constantly switching from one medium to another quite fast to gauge the offers that are there online before making a beeline to the offline where she had made her purchases earlier.
Several Retailers heaved a sigh of relief when they learnt that most popular Online store would offer just private label and not branded lingerie on the online store not long back.
The customers immediately switched off from this popular online store, as the private label couldn’t match the Brand Salience, its fits, its variety and the years of tried and tested formula that the customers have got used to.
This private label wanted to emulate all this in a few months flat. Needless to say that all went hunky dory after that, the sales tumbled drastically and experts were called in to find out what was wrong so suddenly? With piles and piles of inventory of private labels merchandise, this online was looking at a potential disaster, they did try to get to the brands once again, but now the brands were quite wary of the shenanigans of this online blow hot blow cold nature, they gave a cold shoulder to its latest offerings and decided not to bite the bait at all. Last we heard was the online is no online now and much like off line brand they are peddling their wares at the very channel they scoffed earlier. The Stockist, distributors and retailers!! Now this channel is their only source for survival.
So much for the online drama! Well a lot more is happening in this space. In the general ecom space much more will unfold in the coming months. The sky high evaluation of the companies are crashing down every month leaving a doubt in my mind- were all these companies paper tigers if not more!
Earlier market evolution took many years for companies to reach a certain position of strength, which the e-com companies seem to be achieving in months flat out. So it fails to impress me, as to who was gaining out of the so called high evaluations? Was it, just a couple of investors playing poker with one another and the poor founder who was at their beck and call? The founder’s idea or his passion seems to have got all lost in this money makes more money game.
We have just this kind of story for you where we analyse how the investors have taken over the founder’s company. It’s all happening before us. The fall of Calais is also lamentable because that’s the end of an era of French Lace Makers that were popular the world over. This is what Globalisation has done to the world, that is why Trump came to America to protect the last vestiges of Americanism.
The making of Tronica City into a Lingerie Hub is a study we have done in our ongoing series, A new feature starting this month is CEO Speaks where we will get you Face to Face with Top Professionals in the higher echelons of several companies. In the first we have Vivek Mehta from MAS doing the honors for us.
The store review is on Hunkemoller the Dutch premium lingerie brand that is trying to get a foot hold in India like M & S and La Sensa. We are watching this space quite closely and will give you a low down every time there is movement in this arena.
Do give us your feedback on this and for any suggestions you might have? We would love to have your suggestions ?