Global fashion retailer Zara recently caused a public uproar following accusations that the brand copied the work of independent artists. Last week, Los Angeles-based artist Tuesday Bassen announced on her instagram account that she had filed an official complaint against Zara for copyright infringement. She joins at least a dozen artists who allege Zara stole their designs, adding their work to products without the permission or compensation of the artists.
Mobile is becoming the integrated platform to get almost everything done today. And retailers are very aware of this fact. A lot of know- how, reports and miscellaneous facts exist online and offline about mobile platforms.
This knowledge is now becoming a healthy return on investment for many businesses. Consumers are now using mobile devices to shop, exchange ideas and create personal histories. Ecommerce websites and etailers are cashing in on this deluge.
It is not just a passing fad though; it is a way of life. According to forecasts, worldwide business-to-consumer e-commerce spending increased by 20 percent in 2014, reaching $1.5 trillion in sales. Ecommerce has clearly outpaced many other industries today. It has in fact become a medium for most industries to increase their customer base.
Mobile commerce is, for most intents and purposes, user centric. It focuses on the consumer. Everything from aesthetics to ease of use that you might wish for, as the consumer you get it! In fact, after taking years to build an online presence, retailers are only now beginning to cash in on all that hard work.
The big data trend has been gaining traction rapidly in the international markets. Almost all the multinationals have their own data analytics arm; or they outsource this service from the many data analytics companies that excel at it.
But, it is undeniably true that many organizations today are making data waves. But, it is also the undeniable truth that most Small Businesses are yet to join this bandwagon. It’s been estimated that with the rapid spread of mobile devices and the “Internet of Things,” the world is generating more than 2.5 billion gigabytes of data every single day.
Every culture in the world comes with a set of norms and rules. And the way one should dress happens to be one of those unspoken norms that govern popular conscious. Society decides what is appropriate and what is not for various gender, ethnic groups, etc.
Although these days dress has become mainstream everywhere, there are still groups of people that adhere to traditions. And ethnic wear is one of those long standing traditions that have gripped the imaginations of designers everywhere.
Which is why, the ethnic wear industry in India today comprises 75% of the total women’s wear market, at USD 10.82 billion. This is a huge number, considering the fact that the Indian Apparel market is presently valued at USD 39 billion and expected to grow at a CAGR of 9.5% to reach USD 60 billion by 2017.
With more than 10 million women joining the workforce, the apparel industry is expected to gain a potential 35 million consumers by 2020, according to a Technopak report. These numbers are clear indicators that modern and comfort based dressing will not erase centuries of traditional ideals.
Ethnic wear, especially in India today, is most popular during the wedding (read winter) season in India. Weddings see a variety of ethnic and traditional dress styles coming together. The challenge for most designers and retailers, though, lies in deciding what will earn those profits as well as brand recognition.
It is 2015. And people are reappearing, back into the moulds of accepted work-life balance, trying to get back to the mundane. The parties and celebrations are done with; even the hangovers are receding. The revelry that embodies the holiday season is dying down.
After all the binge eating and binge drinking and general binging, it is now time to ‘detox.’ And what better way to do so than make resolutions!
The New Year brings hope of a better life, new chances and newer opportunities to people. And they make their resolution, promises to themselves and others, of how they will change, grow, improve in the New Year.
Full of enthusiasm and positivity, we end up deciding how the new year will shape up to be much better for us, and how we will make sure to be instrumental in the process of self change. A few days of adhering staunchly towards our goal increases this feeling. And then, poof, everything goes pear shaped again.
It’s Christmas Eve. The whole world is waiting with bated breath to welcome ‘the messiah.’ All the lines have been erased to witness the birth of Christ- the savior. This in itself is a miracle. Even before he arrives, he brings with him joy and peace.
Jesus lived centuries ago. And still his words, his very presence lingers in the hearts of people all over the world. And in this atmosphere of hope and happiness is the reason that Christmas is such an amazing time for us.
Businesses start preparations months in advance to cash in on Christmas. But we believe differently. We believe us and by extension most business owners are engaged in spreading the currency of love and joy.
Most businesses that survive in the long term end up adapting to their own changing sets of consumers. But with ecommerce becoming almost mainstream, and the huge amount of choices they provide, it has become necessary to find newer ways to retain customer attention.
Grabbing eyeballs may be easy even, but getting them curious enough to actually continue to look at a particular product or service is the real challenge. The virtual world is like a quagmire of options- it entices your consumers, yes; but it distracts at the same time.
With IoT proliferating and growing, it is becoming too easy to gather data. But converting that data into actionable insights is another challenge. Until now, we have had to rely on surveys and other statistical but human methods to get to the bottom of problems.
In ancient India, when temples or mosques had to be built, people would come together and donate resources or services for the Lord. This tradition is seen in many cultures. In fact, crowds have come together even today to build temples in India.
The famous ‘Akshardham,’ the temples dedicated to Lord Swaminarayan in Delhi (India) and Ahmedabad (India) is a prime example. People contributed in various ways to lay the foundations of these vast monuments.
The idea behind all this, though, is constantly being reinvented in so many words. Today, we call it ‘crowdfunding.’ These days we see and hear this word a lot: crowdfunding. It is easily explained. Crowdfunding is the collection of finance to sustain an initiative from a large pool of backers—the “crowd”—usually made online by means of a web platform.
Financial Services today is an umbrella that covers everything from bank loans to insurance services. There are so many functions involved in the financial services sector that it is easy to lose count. In technical terms, financial services are the economic services provided by the finance industry, which encompasses a broad range of organizations that manage money, including credit unions, banks, credit card companies, insurance companies, accountancy companies, consumer finance companies, stock brokerages, investment funds and some government sponsored enterprises.
Managing money or economics maybe highly theoretical, but it is also one of the most practical and important aspects of our world. From times immemorial, we have required some kind of financial service. Since we learnt farming, we have believed in the concept of barter. Then came the money lenders and the Templars who created an ancient version of the banks we see today.
Finally we have banks that are deemed a very important part of our civilization. So much so that today, we use the services these banks provide to even buy the smallest of gadgets. Banks and other financial institutions have been crunching numbers forever. But now this highly manual process is becoming digitized now.
The F here stands for FMCG and E for eCommerce…
FMCG, this term is being bandied about relentlessly these days. Fast Moving Consumer Goods or FMCG, as they are known by business insiders, are an imperative part of any industry all over the world. These are products that are sold quickly and at a relatively low cost.
Though the absolute profit made on FMCG products is relatively small, they generally sell in large quantities, so the cumulative profit on such products is very large.
Examples of FMCG generally include a wide range of frequently purchased consumer products such as toiletries, soap, cosmetics, teeth cleaning products, shaving products and detergents, as well as other non-durables such as glassware, light bulbs, batteries, paper products and plastic goods. The very basic goods that are required in our day to day life, for good hygiene and survival are all a part of the FMCG industry.
These products are in used daily and are in demand constantly. Some of the companies that sell FMCGs include Unilever, Procter and Gamble, Coca-Cola, Nestle, Colgate-Palmolive, etc.
It is a testament to the monopoly that the USA holds over the world today, that most market pundits and the top tier management is talking about Thanksgiving, Black Friday and Cyber Monday, non-stop. The trends, the latest ideas, and especially the sales, are all anyone will speak about.
Thanksgiving is majorly celebrated in the United States and Canada, and yet people all over the world are using it to propel their own sales and brand image in the country of dreams- USA. The cultural connotations of Thanksgiving are similar to many other celebrations held all over the world. It is a day of giving thanks for the blessing of the harvest and of the blessings in the preceding year.
The word ‘thanksgiving,’ means just that, giving thanks. A beautiful thought, that when echoed by a whole nation, becomes not just cultural, but secular as well. But roots of the idea aside, these days, at least internationally, Thanksgiving is known for the Black Friday and Cyber Monday phenomena, which marks a gift buying frenzy, just before the start of the holiday season and Christmas.