Retail Chronicles November Edition

Retail

Chronicles

Monthly Newsletter | Volume 4 | Issue 5 | November 2019

CONTENTS

04

ALL BIRDS : BETTER THINGS IN A BETTER WAY " You cannot get through a single day without having an impact on the world around you."

09

12

CONTENT TEAM Sagar Anam | Onkar Joshi Abhishek Wakode | Parth Reshamiya | Urvashi Dhabalia | Bharat Gupta

WHEELYS’MOBY MART "It is a well-known fact that bringing in technologies in the retail sector is good for customers"

EPIGAMIA: THE SUCCESS STORY

DESIGN TEAM Surabhi Upadhyay | Sachin Gosh Archish Raval | Ayush Shah | Pushpak Holani | Ayush Goyal | Shriya Mahajan

In this article learn how a once to be an alternative to ice cream become a super hit.

15

B8TA: STORY OF RETAIL IN E-COMMERCE ERA B8ta gives experiences to customers that is amazing for them and brings multiple stories and concepts together.

EDITING TEAM Ayush Gupta Abhishek Wakode

It is said, "There is a Start-up flourishing in every alternate cubicle in Bangalore". This is the rate at which start ups in India and also around the world are growing and Retail has not been left untouched.The Retail Industry is currently valued at USD 23,460 billion and expected to grow at CAGR of 5.3%, which makes it compelling for the startups to enter. With the entry of e-commerce, the start ups need to go through the dynamic changes and they now require innovative ways to deal with these changes. With start ups being at the center of this Industry 4.0, we present to you an edition focusing on the journey of some of innovative and new Retail start ups. Hope you enjoy this edition!

Happy Reading!!

" You cannot get through a single day without having an impact on the world around you. What you do makes a difference, and you have to decide what kind of difference you want to make. " -Jane Goodall

ALL BIRDS : BETTER THINGS IN A BETTER WAY Keerthana Sontam PGDM RM

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November, 2019

ALL BIRDS : A SUSTAINABLE SHOE COMPANY

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In 2018 footwear manufacturing companies around the world produced about 23.3 billion pairs of shoes. Sadly most of these shoes end up in landfill i.e. approximately 300 million pair shoes after they have been worn. Each pair takes on an average of 50 years to fully decompose and emit 30 pounds of carbon emissions. In the time when everyone is talking about global warming and sustainability, the footwear industries are causing huge damage.

November, 2019

So is there anything that anyone doing about it. Yes, few start-ups are coming up with sustainable footwear. One of these start-ups is ALL BIRDS an American company that makes shoes from wool and eucalyptus trees.

He wanted to make something simpler and thus he started making his shoes.

He teamed up with Joey a biotech engineer and renewable materials expert to make shoes.

ABOUT THE COMPANY AllBirds started in March 2016 by Tim Brown and Joey Zwillinger. Tim Brown got the idea for the company when he was the vice-captain of the New Zealand’s football team. In 2012 he had quit his professional career as a professional football player, and the thing that bugged him most about his playing days was the flashy, colorful sneakers that were sponsored by Nike and Adidas that were uncomfortable.

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November, 2019

WHAT IS SO SPECIAL ABOUT THESE SHOES? WOOL RUNNERS These shoes are made from superfine New Zealand Merino wool. The shoes are temperature-regulating and moisture-wicking, all without an irritating scratchiness.

TREE RUNNERS These are made from the eucalyptus tree fiber that makes the shoe lightweight and provides good breath ability thus minimizes odors.

The laces of these shoes from post-consumer polyester. The insoles proprietary merino wool softness, moisture-wicking, reduction and castor bean used for cushioning.

are made recycled are lined fabric for and odour oil foam is

SWEETFOAM FLIPFLOPS These flip-flops are made sustainable Brazilian sugarcane. And the straps of these flip-flops can be interchanged

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November, 2019

SUSTAINABLE SUPPLY CHAIN MODEL All Birds is a registered B corporation i.e. it is a business that meets the highest standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose. The company takes the help of third-party certifications like forest stewardship council that helps the company identify where to find trees that are harvested ethically. The company has long term contracts with suppliers that give them the confidence to produce sustainable products and follow sustainable practices because they don’t have to worry that the company would back and they don’t have to worry about the price since the company agreed to it. They also have an internal life cycle assessment tool that helps them analyze the problems

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in the life cycle of the products and thus develop quick solutions to make their supply chain more sustainable.

The companies direct to consumer model also makes it possible for the company to be able to spend money on sustainability instead of passing on these costs to consumers. The company is promoting itself as an ecofriendly company that attracts the investors and thus raised money for the company.

November, 2019

FUTURE OF THE COMPANY Consumers have started becoming environmentally friendly and are starting to prefer brands that are following sustainable practices and with the US sustainable market to hit $150 billion in 2021 alone, there is a huge scope for companies. All Birds which has recently been valued at $1.4 billion and which has received $50 fresh funding is expanding its stores and also expanding itself into apparel.

It started its new line of socks that are made from the blend of merino wool and eucalyptus tree which keeps feet sweat-free. With its entry into apparel, it could now produce so many more sustainable products. It could maybe make products with fibers like Pineapple, Coffee Beans, Banana. Let’s wait and see what they have in store.

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November, 2019

"It is a well-known fact that bringing in technologies in the retail sector is good for customers"

WHEELYS’ MOBY MART Yash Jain | PGDM RM

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November, 2019

AI IN RETAIL SECTOR IN INDIA Now a days everyone is talking about how the technology will transform the brick and motor stores, what will AI do to the retailers and wholesalers, how modern outlooks will look like, etc.

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Technological innovation is in starting phase and some start-ups are coming out with their ways to change the traditional retail trading. Wheelys’ Moby Mart is one of them which is incorporating to solve the problem of 24-hour availability of retail shop and widen the range of the retail outlet in remote areas. Today, 50% of the world’s population does not have access to retail stores within their walking distance which open door for the startups in the retail industry.

November, 2019

Introduction

Process of purchasing

The Moby Mart was created by Wheelys’ and tech firm Himalafy. The startup name means 'the supermarket that comes to you' that is an impeccable description of what the company does. The company provides Moby flexible and high-tech corner stores which are made of steel and have a fridge, POS system, speaker and hidden cameras inside it. It provides a store that is movable, staff-less and secure for the customers.

The sliding door will open by the app that is been installed in your smartphone. You can scan inside for the product that you want to buy and explore the new product. For the checkout, you have to pay the amount of item to the Moby Mart app by Visa, MasterCard, Alipay and WeChat.

How to use it?

The Moby stores are mainly produced for two reasons i.e. to reduce cost and increase reach and availability. The cost of normal brick and motor stores includes the cost of purchasing store or renting it, Inventory management, Cashier systems, installing Tech, installing security and payingstaff system whereas Moby stores have all in one place so that they can eliminate these costs. Normally, retail shops are closed in nights so if you want something at night you wouldn’t get but the Moby stores resolve this problem as all function is done on the cloud basis and it doesn’t employ any staff and can be operated 24*7.

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Future of the company The company has a very high potential to grow as it is the first one to introduce this type of innovation in the retail stores across the globe which uses AI technology and cloud system. The store uses solar power and battery to provide energy for the functioning and to emulate global standards towards sustainable and renewable energy. The company also plans to deploy drones for delivering the product. Currently, It produces three model Alpha, Xi, and PSi and plans to expand its product category by launching more product type.

November, 2019

EPIGAMIA: THE SUCCESS STORY Abhishek Wakode | PGDM RM

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Novermber, 2019

EPIGAMIA: THE SUCCESS STORY

According to the reports, 97% of the Indian retail market is still unorganized which has to be seen as a tremendous opportunity by the upcoming start-ups.

One such successful start-up is “EPIGAMIA”.

Retail, the biggest sector in the world in terms of revenue and employment generation has seen many businesses transforming it over the course of years.

Some turn out to be revolutionary while some just manage to survive. But that’s the beauty of it, the sector has so much to offer to everyone.

EPIGAMIA provides naturally flavored Greek yogurt in different variants. The yogurt is infused with higher proteins and real fruit to stimulate the taste buds. Apart from yogurts, EPIGAMIA is now expanding into snacks and ready to consume healthy drinks too.

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November, 2019

It is a classic example of how a wellorganized and structured business plan can do wonders. It’s not only about satisfying the demand in the market but also the perception of the people about a particular product which determines its success in the long run. EPIGAMIA has been very successful in positioning itself as a healthy product with the help of correct brand positing and even packaging and labeling.

They focused on the shelf life and shelf time of their products which is something very important from operations’ point of view.

With famous Bollywood actress ‘Deepika Padukone’ as their brand ambassador, EPIGAMIA made sure that they reach out to public faster and in style.

People have started recognizing EPIGAMIA not only as a single product but as a brand in itself which opens the doors for EPIGAMIA to introduce new products into the market.

With over 3 million products sold in its month of launch, it has set a benchmark for every other retail start-up out there. With strong competition from Amul, Mother Dairy and local competitors, EPIGAMIA has managed very well to maintain its position in the market and hence have a decent and continuously increasing market share. While EPIGAMIA Greek yogurt might have originally been meant to tackle the seasonability of ice cream, it went on to become a huge hit with a cross-section of consumers.

Normally, perishable goods have high risk about the shelf life and so the logistics have to be excellent to cope up with that.

EPIGAMIA made sure that they were all in it be that marketing, logistics or product innovation. The story of EPIGAMIA is an inspiration for every product based retail start-up out there.

The retail industry has seen a major shift from being product based to perception based to experience based. The retail industry has enough opportunities for every player in the market, it just takes the right pathway for businesses to make the most of it. It’ll not be a surprise to see several startups focusing on retail in near future.

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November, 2019

A STORY OF RETAIL IN E-COMMERCE ERA

Parth Reshamiya | PGDM RM

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November, 2019

"B8TA -AN EXPERIENCE THAT IS AMAZING TO THE CUSTOMERS" In a competitive market, it's a wellpositioned brand that stands out!" The positioning of the product will define the price your product will fetch. We talks about a startup which is working to improve the positioning of brands.

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The growth of E-commerce is outpacing overall retail sales, yet customers still depend on stores for the vast bulk of their shopping. That's boggling some of the best minds in retail, but one startup says it has the answer. Founded by Vibhu Norby, William Mintun and Phillip Raub b8ta is a startup that helps gadget companies to improve their physical presence. b8ta provides an easy, cost-effective solution to brands wanting to launch physical stores of varying sizes. Companies can pay to rent out space for their product to be displayed inside the locations, along with a tablet that each brand customizes with software. b8ta is a package of good store design and data to showcase goods from many littleknown makers and in others' retailers' shop- in -shop spaces. Recently b8ta launched "Built by b8ta,"

September, 2019

a store-as-a-service platform that helps brands to set up physical operations easily.

The software includes checkout, inventory, point of sale, inventory management, staff scheduling services, and other capabilities.

With the help of IoT, b8ta has developed new consumer technology that can communicate the product's usefulness to the public. If you are thinking that b8ta is only changing the way how consumers are shopping in retail, then you might be wrong. b8ta has started taking steps in business analytics with the help of the data it is gathering from the sales of different products.

How b8ta helps different brands? b8ta captures quantitative and qualitative data. On the quantitative side, it’s real traffic data specific to their product. The report is something similar to a Google Analytics report we see on a website. Brands can see the number of impressions their product has gotten. impressions mean someone has walked past their product. After the impressions discovery of the product takes place.

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Discovery is something where someone stops and spend five seconds or more looking at the product. Then b8ta captures any one-on-one demonstrations by a staff of the product for a customer, so brands can see how many demos are being done of the products. b8ta also has real-time up-to-theminute information on how brands' products are selling in the store. On the qualitative side, b8ta has a chat feature built directly into the software .If there’s anything about the quantitative data that the brand sees and wants more information about they can just send a message to the store staff directly

and get real-time feedback on how their product is doing and what customers are saying about. Suppose if the brand has released a new color and they want to know how it’s resonating with consumers.

They can message b8ta store directly and b8ta tells them what people think of it.

After just 4 years of starting b8ta is growing at high speed. After seeing the popularity of this concept, we now need to see how retail will grow further.

September, 2019

Retail Chronicle is a monthly newsletter of Retail Lab, the retail committee of KJ Somiaya Institute of Management Studies and Research, Mumbai.

Images used in Retail Chronical are subject to copyright.

/retaillabsimsr @Retail_Lab @Retail_Lab

KJ SOMAIYA INSTITUTE MANAGEMENT STUDIES RESEARCH, MUMBAI.

retaillab_simsr@somaiya.edu +91 8445090885 +91 7045961886

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