Recall the satisfaction you felt when you watched Rocky lay Drago out, or when you saw the Karate Kid pummel the Cobra Kai.
For #kiranastores, that moment of reckoning (cue ‘epic music’) is here. Although the prospect of the pie shrinking in recent times is unnerving, with #Goldman estimating India’s economy to shrink by 45% in Q2, the #FMCG story points to a power shift from big #retail to kiranas.
While most malls continue to remain closed (sorry #BigBazaar), the govt. ensured that 20 lakh kiranas remained open, transforming them into ‘Suraksha Stores’.
A #McKinsey report reads that sales from kiranas during the lockdown grew by 39%. In addition, 29% of consumers have shown an intent to stick with kiranas & limit their future trips to big retail. Aside from #JioMart, #Amazon came up with its “Local Shops” program to enable kiranas to sell more online. #Google too is testing an O2O model to connect kiranas to customers.
“Traditional shops still provide a lot of advantages to the customer, that we in organized retail wouldn't be able to match anytime soon.”. Remains to be seen if these words by #KishoreBiyani were in fact a self-fulfilling prophecy for the demise of #BigRetail.