http://www.theshirtshop.in/blogdetail/challenges-for-retail-sector India in 2018 with its booming economy is heading slowly towards becoming the global power, but can any one understands whats in the core of this rapid transition. Well the huge population creates the huge markets, once the huge and poor population is now creating the biggest markets for big companies like Amazon and Wallmart in India. But there is a bitter truth behind this bubble, the small retailers and traders are badly affected by this, as trading and retailing is in the core of Indian economy for centuries, retailers and traders sitting at the farthest most markets are contributing to the economy. In-fact I would rather say that there is close mesh created by these small businesses where the one who is a buyer is also the seller and hence they fulfilling each other. But now with the emergence of these giants e-commerce, a company with a small team is taking over the entire market and giving offers which can’t be countered by these small retailers with limited resources.
The overview of the situation can be understood by the fact that now a day’s a utensil seller is buying shoes online rather then the local shop and the shoe seller is buying clothes online also the cloth seller is buying toys online and so on. The basic problem that they are not understanding is that they are hurting themselves and that close mesh which I have mentioned earlier. And now after the arrival of big giant like wallmart in to e-commerce the situation is going to be worsen. The small shop owner has left with no choice but to close the doors and change the business, in that too they will face the same situation because the inventory for these giants is countless.
I would say technology can be an answer to this situation. So the startups and techies need to provide there solutions to these small but core part of the market so that they can counter this biggest threat questioning there survival. One such startup is “THE SHIRT SHOP”. Innovatively changing the scenario and benefitting the traditional market. Working on a social aspect to provide a business opportunity to the less benefitted of the society so that he or she can participate in the growth journey of Indian economy ( www.theshirtshop.in). In this rapidly changing business dynamics we should really give a serious thought to this essence of Indian traditional market. After all who will buy if no one earns.