The boom of urbanization and digital revolution in India has transformed Indian marketplaces never before. The retail industry in India shares about 22% of its GDP in Indian economy. As of 2015, there were 12 million kirana stores in India translating into 10 stores per 1,000 Indians. The advent of FDI in retail has enabled several international and a corporate giant retail group of companies to enter the Indian markets.
Now, you might be missing out small, unorganized retailers (general stores) around your vicinity. Since ages, you would have been ordering monthly goods such as ration from the Kirana store nearby your house. Remember the old days when you had to list down the products, and quantity needed. Kirana shopkeeper used to send a person to your house with a bunch of goods ordered. Or even, you must use to visit Kirana stores to buy whatever you need.
Small Kirana stores in India have been proven to be an unwavering strength of the economy, and they will continue to sustain. India’s retail market is expected to grow at 7% over the next 10 years, reaching a size of US$ 850 billion by 2020. Taking into account all facts and figures about Kirana industry in India, Pay1 has decided to strengthen the Kirana store retailers to the next level. Using smartphone technology, Pay1 aims to focus on Kirana retailers to make them more tech-savvy to use the technology to boost their sales. It hence has decided to come up with an innovative and engaging app that will supplement Kirana retailers with an active force in their business.
The app would be completely user-friendly and compatible across multiple devices. It will consist of several purchase options that local retailers could explore quickly to find out favorite items. For example, buying goods from wholesalers isn’t a cakewalk for these small retailers. They have to travel to distant wholesale markets situated in one corner of the city that includes lots of financial and physical efforts. The app will be having various categories like vegetables, groceries, fruits, stationary, etc. that Kirana retailers would be able to order online with required quantities. They just would need to follow easy steps to order products they need.
Integrated payment gateway options would be given to them to align the app with diversified Kirana retailers. Free registration to the app with unique member IDs for the dedicated Kirana retailers will make a success story for this app! Special festive offers or occasional discounts could be given to them to attract a larger share of Kirana retailers across India. The app would be providing all sorts of buying services for them through a convenient and safe process of online transactions. It includes ordering wholesale products following convenient payment options like Wallet payments and so on.
Utilizing this app, Kirana retailers will be able to increase their productivity in their business. It will save their time and money in purchasing bulk goods. This app is supposed to strengthen retailers’ buying practices and capacities in all possible ways. Hence with more profits, small retailers too would be able to invest more in store expansion and development operations. It eventually will benefit the customers with increased choices of products belonging to different brands at competitive prices. Reason being empowering Kirana stores is bit straightforward.
Besides these factors, there are few interesting benefits that customers often enjoy with Kirana retailers and not with lavish shopping malls. Credit without credit cards! If you are a loyal customer of a particular general store, you naturally develop a good relation with the shopkeeper over a period. It’s like you can pick up whatever you need and can tell him to note down the list of items you have shopped. You can pay the bill later. This business so runs upon mutual understanding and trust that you would never experience in any hypermarket.
With such a significant share of small shopkeepers functioning in the local markets, there is a golden opportunity to equip them with upgraded technology. With the massive growth of population and potential buyers in India, the road ahead is prosperous for small retailers. Pay1 is always there to accompany them with all required advancements to relish their journey!