Brands face expansion challenges owing to poor small towns real estate infrastructure & staffing hurdles
09 March 2023, Mumbai
As brands look to tap tier II-III markets across the country, the importance of location and space has increased, so have the challenges of opening new stores and expanding in India. Since, India is still developing in terms of real estate infrastructure.
Negotiations, inspections and documentations can also take up significant amounts of time when finalising a retail store. Retailers are therefore increasingly relying on strong partnerships, including those with franchisee partners who are vetted for suitability. Back-end technology is crucial to support inventory management, warehousing and supply chain operations, and IT systems need to be in place to ensure seamless processes. As retail stores increasingly become community spaces with high customer engagement, the role of store staff becomes critical. Finding, training and retaining the right staff is always a challenge, particularly given the rise of the phygital, omnichannel and metaverse spaces.
