Indian Consumer More Vocal About Customer Care Services

In India, people shout more on customer care executive than any other part of the world. Indians want personalized and customized services. People in India like to know name of the executive and want to see whom they are seeking support. Consumer threatens to switch to the competitors to get extra benefits. Probably Jago Grahak Jago campaign has helped consumer in putting their say upfront.

American Express and global research firm 'echo' conducted a survey and below are the findings-

• 64% of Indians lose their temper with a customer service executive Vs world’s other markets average of 48%
• 61% insisted on speaking to a supervisor 
• 12% of Indians use profanities or abusive language as against an average of 7% globally 
•  Indians are becoming quite vocal about poor quality service too as each one tells approximately 47 people about their bad experience 
• One out of every five consumers feels businesses pay less attention to providing good customer service 
• four out of five believe that smaller businesses give more importance to customer service than large ones 
• Most interesting finding - When customers know that a company is listening to them and addressing their needs quickly and responsively, they will not only spend more - they will spread the word to others as well

So, Indian consumers seems very honest. If they are satisfied they create buzz about that and if they get dis-satisfied then also they create lot of noise. Indian consumer wants little extra attention in term of after sales service. Wants more transparent system and tries to show they know how they can justice legally if they feel cheated.

-Nikhil

100 per cent FDI in Single Brand Retail: What's in there for Retail n eRetail

For Retail

First n foremost expected positive outcome will be it will give huge boost in foreign investment. Few experts from industry believe single brand retailing can contribute half a percent of total FDI in next 5 years. Big Brands like Addidas, Nike, Louis Vuitton and Gucci   IKEA, M&S and few other foreign retail giants seem to be among definite starters as they already have significant sourcing from in-country suppliers. Many more luxury brands are expected to sneak in with big plans. It may generate lot of investment and job opportunities. Despite of all positive sentiments many believes there are certain regulations that will never allow to achive such big results that are expected. One clause says that these big giants have to procure 30% of their raw material from Indian SMEs.

Decision taken in interest of Indian SMEs and small entrepreneurs but are Indian SMEs are fully ready for the same is gonna be big ask? Or these big giants will prefer this step also a consideration.

For eRetail

In 2011 alone, investors poured $350 million (Rs 1750 Cr apprx.)  into 57 internet startups - that's more than the collective dotcom investment of the past four years, according to VCCEdge, an Indian online deal platform. Some $3 billion worth of e-commerce was transacted in 2011, says IAMAI. And, according to Helion Venture Partners, $20 billion worth of e-commerce will be done in five to seven years, with 12-15% of shopping going online in this period. Till date, however, the Indian Railways website for booking tickets is easily the most successful e-commerce model. Launched in 2002, irctc.co.in sold just 27 tickets online on its first day. Today, it sells 4 lakh. According to Verisign, an internet registry, about 2.6 million dotcom and 'dotin' companies are registered out of India. Along with this Indian internet users no is going to 30 Million by 2015. Certainly with 30% year on year growth rate eRetail seems to be most promising. If retailers get investment and out of that 10-15% get diverted to online retail, surely there will be boost in growth.

All in all it’s a big positive step for retail. There are certain clause to be amended smartly.  It also indicate that soon multi-brand retail will get 100% FDI as well. Which surly will open doors for even bigger success in Indian retail and agrarian practitioners.


-Nikhil Kunwar

After Launch of iPad 2, online retail websites are best medium to dispose iPad 1

iPad 2

We are living in era where every latest gadget gadget gets obsolete soon after its launch. Steve Jobs launched iPd 2 with many advanced features. Apart from several sleek enhancements over its predecessor, the iPad 2 will come at the same price tag, forcing new tablet buyers to instead wait for it to arrive and not fall for the first Apple tablet. Though its launched but will be available in 27 countries in next 2 months. 

Gadget freak and tech savvy people already started disposing their tablet. there is substantial rise in auction of iPad 1 on websites like eBay. at the same time sellers facing huge fall in fresh iPad 1 sale. 

in such dynamic technological world online retail is obviously better then conventional retail. e-commerce has better reach and flexibility to sustain in a longer run. Its not only iPad there are same cases with other Mobile & IT products. After iPad products like Blackberry's Playbook, Dell's Xoom going to make this market more competitive and interesting to follow.

In this ever changing technological world, I see online retail has edge over conventional retail format.

Nikhil Kunwar

What’s there for e-commerce in Union Budget 2011

The Union Budget has a couple of interesting notes for the digital industry –

·         Concessions for mobile parts and accessories remains in force for one more year

·         While software including games and music will have to pay less service tax.

Rural broadband also gets a mention, but overall the budget was largely neutral for telecom and IT.

National Innovation Council under Sam Pitroda has been set up, with each state having a council for innovation. This will surely create a favourable atmosphere micro entrepreneurship. A strong stimulus for India grown e-commerce products to reach to masses and create village level entrepreneurs. E-commerce has enabled Indian manufacturers and retailers multiply its’ reach to global markets. With Indian online stores on internet, the retail sector is looking very promising. Online retail has seen 30 per cent year on year growth in a 27,000 crore e-Commerce market in India."

Another positive for e commerce is overall allocation of Rs. 58,000 crore for Rural telecom and broadband services. This will trigger better reach of internet to rural India. The government plans to provide rural broadband connectivity to all 2.5 lakh Panchayats in three years. With broadband penetration in rural areas there is two way benefit opportunity for rural India.

·         Rural manufacturers will get bigger reach to the market.

·         Reduction of Intermediaries- which ultimately increase margins for rural manufacturers and farmers.

·         This will bring access to rural India, best trade practices, updated knowledge, quality products and profitable business offers."

Retail pundits were discussing and debating on Multi Brand FDI in Retail since long. But Finance Minister did not take any interest in it. MNCs in e retail such as ebay, ibibo.com & HS18 are waiting to open up FDI so that they can shift stock n sell model from vendor based model of e retail.

Rise in service tax will make things stiff for e-commerce. 

Overall budget is neutral for IT, telecom and internet industry. There are few positives like broadband service for rural India. Hopes from Mr Sam Pitroda now. Expecting innovative steps from his National Innovation Council.

Nikhil Kunwar