A CASE STUDY ON:ENVISION THE

FUTURE

Subject : Retail Management presented by : Ajay Kumar Barik

Subject Code : MGT3033 Sagar Mishra

Guided by : Dr. Swaroop Mohanty Purnima Mohata

Alok Maharana

Manas Dinda

Subhadarsini Samantray
Summary
The case talks about various trends in the online shopping
industry and quotes insights and sources both from primary and
secondary sources. Market shifts are posing natural new
obstacles, as well as an unparalleled desire for innovative ideas
and solutions . The primary challenge is Differentiation and
Relevance. Expanding shopper options for meal solutions, health
and beauty, pet, and other categories and competition is
significantly further online, creating more hurdles. But, in a world
with numerous purchasing options, our more fundamental
requirement is distinction and significance." Physical/Virtual
Balance is the second challenge. There is a chance that online
shopping will grow over the next five years. Still, the physical
store will continue to play a significant role in shopping and
pickup." Shoppers want both physical and virtual options, as well
as the ability to move between them," said another shop. The
caveat is that a physical store must link to internet purchasing
choices while maintaining attention on the first
challenge—differentiation, relevance, and the store's ability to
attract and excite customers . We expect significant online
growth, but even by 2020, this will account for barely 3% of our
total revenues." Said a food retailer. By which we can see the
growth in food retail still needs to improve
Q1. What do you think about the methodology used to gather the
data for this case ? Explain your answer .

Ans:-
In this case, its strategy facilitates the investigation and understanding of
the underlying principles in the real-world phenomena involved in the
construction of the future vision in the back-casting study.
● This aims to analyze, investigate and develop a model for data
driven smart sustainable cities of the future as a form of
transformative change towards sustainability.
● It tends to focus on qualitative data using methods such as interviews
, observations , and analysis of primary and secondary sources .

Q2. “The first challenge is differentiation and relevance”. Why is

this true for retailers of all types and sizes? Why will this be even
more difficult in the future ?

Ans :-
Differentiation and Relevance are the first hurdles to overcome. Expanding
consumer alternatives, such as meal solutions, health and beauty, pets,
and other categories, is a source of competitiveness, particularly among
Millennials. Specialty stores attract up to one-third of all consumers,
including almost half of Millennials, and online shopping adds to the hurdles
and limitations. Shoppers want real and virtual alternatives and the freedom
to switch between them . Both suppliers and retailers know that category
management has limitations regarding future customer and store
management demands . A higher-level shopper/store approach influences
the type and depth of insights produced and their implementation.
While nearly all suppliers now have consumer insights, retailers have
expressed a need for more comprehensive business analytics to satisfy
shopper and store demands.
Q3. “A Second challenge is physical / virtual Balance”. Why is this
true for retailers of all types and sizes ? Why will this be even
more difficult in the future ?
Ans :-
A second challenge is physical/virtual balance ", this statement stands true
in the context of retailers of all types and sizes . In the era of today's
growing internet usage , digital stores are dominating the existing physical
stores . Ease of approach physical stores must link to virtual shopping
options, but not diminish focus on the first challenge . Online shopping will
grow over the next 5 years, but the physical store will continue to play a big
role for shopping and pickup.

Q4. What are the pros and cons of optimistic planning

about the growth of online revenues ?
Ans:-
The optimistic planning about the growth of online revenues are:-
Pros:-
● Planning provides a guide of action . It helps to predict the amount
and type of product , to order as well as staffing levels and how much
equipment and storage space is needed to hold the inventory.
● It typically leads to more profits because they don’t waste money on
non-essential products and personnel.
Cons:-
● Optimistic planning in the growth of online revenues can help
excessive budget deficits , especially the failure to run surpluses
during periods of high output.
● Undervaluing future sales leaves unprepared, which leads to lost
sales and customer dissatisfaction.
eg :- if a boom is forecasted to last indefinitely , retrenchment is treated as
unnecessary.

Part II
Q1. Explain why the 2Es are so important for forward-looking
retail planning?
Ans:-
The 2Es are important differentiators today since they excite and
engage customers while also addressing the retailer's demand for
a distinct image and relevance.
● Retail planning is vital for defining business objectives and
maintaining a foothold in a competitive market. Without a detailed
plan, retailers can exhaust time and resources on ineffective
marketing tactics.
● As, it determines their profits. If the right stock is not allocated to
the right places at the right time this will ultimately damage sales and
the success of a retailer as a whole. A strong planner will need to
understand the product and be analytical.

Q2. What’s the last retailer– physical store or online store– that
excited you ? Describe what excited you . Did this encourage you
to buy more or pay a quick return visit why or why not ?
Ans:-
Offline, Yes, it's encouraging me to buy more as physical stores guide
clients to where products are located but online , clients should know the
product name to search for it . Sometimes, online shoppers are unable to
know the best products they should order . In physical stores , we can
immediately take the goods . Online shoppers have to pay the shipping fee
and also wait for the products. Online , we sometimes face quality issues ,
used materials or fake brands in the name of originality . We do have
return and refund options in online mode but youngsters are misusing the
option . So, we receive used material directly or indirectly from online
stores .

Q3. As a shopper, do you want the retailer to engage with you ?

Based on your answer, what should the retailer do to cultivate
your continuing business ?
Ans:-
As a shopper, I want retailers to engage so that we can tell them our needs
and for better understanding. The retailer should make a good connection
with shoppers , provide information regarding products . As one retailer,
“Focus on the store in an omnichannel environment is critical to our
long-term survival. In the future, it could create difficulty .

Q4. What are the pros and cons of a supermarket radically

redesigning its store interior and layout ?
The supermarket radically redesign its store interior and layout :-
Pros:-
● Interior designs play an important role . It has the ability to draw you
in and keep you there.
● Retail interior designs allow brands the opportunity to be bold with
their spaces and attract customers in an entirely new way.
● Through innovative designs and signage ,stores have the potential to
create an immersive environment that ensures the brand sticks in the
mind and greatly increases the chances of a customer returning.

Cons:-
● It’s boring, and it’s difficult to use this layout to create a “shopping
experience” for the customer.
● Customers often can’t take shortcuts to what they need.
 ● Line of sight is limited, forcing a customer to look up and down aisles.
● Visual “breaks” are needed to keep shoppers engaged.
● The grid format is so common in supermarkets and retailers know
how to leverage it to increase sales conversion.

Conclusion
As the strategic planning process moves forward , the conclusion is drawn
here which includes :-
● Specific modifications to the vision , Goals or Objectives.
● Foundations for plan refinements.
● Access to the database for future analysis of clustering.