As millennials and Gen Z increasingly celebrate occasions with quality gifting, Meeta Gutgutia, Co-Founder, Ferns N Petals, elaborates how the brand is enabling increased customer retention and higher ticket sizes to facilitate franchise profitability
The industry has unorganized small businesses which are gradually becoming organized with more established large fashion retail chains and online marketplaces
Despite funding, a majority of e-retailers have only earned a chunk of customers and focused more on retaining repeat buyers rather than widening their base
The fundamental and permanent interaction of a business with a customer is through a purchase and businesses need to begin their client retention process with the first purchase
Brand licensees, who don't endorse the 'Make in India initiative', should have a good supplier from where they could import the product by prioritizing the product quality
Mental stimulation in the brain occurs when we write as opposed to when we type and hence there has been a radical shift in the nature of exchanging messages in the last few years
Brands should adjust the tracking code depending on what model of attribution they use, attribution time is but one of the parameters you have to control
Consumers are no longer choosing just a product, but the purpose it stands for every community that exists today, be it online or offline, has a purpose that binds its members making them come back to it every now and then
With the appropriate knowledge, it becomes easier for you to go beyond the boundaries of your nation and choose something that is more suitable for your concept
This is the most important realization on which everything is centred. While the entrepreneurial journey is deeply satisfying, there have been a few critical lessons as well
Social listening gives you valuable insights about what your customers have to say about you, your competitors and the general trends in your industry, which you can leverage to your advantage