Quote: "someone buys a _chhota packet_ to save money, someone buys a _bada packet_ to save money!" There are marwadis, who breathes business, and there are qualified IIT-IIM grads who operates on a very data driven, smart way. This man is best of both breeds. Wow! One of your best interviews Shantanu.
Shantanu, if you read the comments, I am going to meet you one day and thank you personally for this kind of info which you put out .I am 29yr old guy in software in the US and starting up in india.. such vedio content is gold for people starting up now ...just amazing... Willing to pay a monthly subscription for such content
Best of luck bro for your startup. I hope that your startup becomes a success and will pay you dividends in the future for your hardwork that you are putting in today and also provide a lot of good jobs to the people of our country. I am also an entrepreneur, people like you are gems, who decide to leave their comfortable lives in the states to startup something of their own in an emerging economy like India.
This video beautifully teaches millions of ways in which customers are tricked into buying what they don't want. The takeway is stick to your checklist and budget while shopping and don't fall in their traps of overspending. And this happenss in all the sectors. Beautifully portrayed as how this happens in retail sector and the way in which emotions of customers are monetised in the name of experience. Enriching and worth watching discussion.
Through Top to Top Store walks & Golden Spoon panels, I had the incredible opportunity to interact with retail legend,Mr.Mall. His knowledge of consumers,brand and the industry is unmatched. His wit is as sharp as his mind- very Desi and so relatable . #humbled
One of the finest conversation for branding , marketing , consumer insights overall it was a great privilege for me as a mba aspirant . Looking for more of such quality content delivered. Thank you barbershop and Shantanu Deshpande for making this video.
All said and done. No one can undermine the clout Reliance has built in the Retail segment in the past decade. This video is packed with lot of insights about what Indian businesses should focus on to reach the customer. Especially when they are creating new categories in Consumer space.
Why dont we have these type of invaluable podcast or conversation in hindi or may be hinglish so that more people from tier 2 and tier 3 understand it properly and have clear understanding
Awesome thats what I say to my family and close friends that even if I fail in entrepreneurship there will be someone in the market who can collaborate with me in the future. There is no failure only learnings. Superb SD❤❤❤
Exceptional insight inside retail by Damodar Mall Sir 🙏🏻. His simplicity and humbleness is so aspirational for any person. This is सत्संग for entrepreneurs and overall all curios people. Thank you for this Shantanu. Looking forward to more amazing content.
Shantanu, maybe try inviting American founders, business owners, entrepreneurs etc for those of us trying to build in the US. The kind of insights you get out of your guests give us new founders direction that would otherwise take idk how much time and resources
tough to get into your stores, reliance retail. Something for new brands would be really hepful. Liked your insight on price perception. For ex. ghee is controlled by amul or gowardhan. new better brands have no chance
Sir can you please produce hindi dubbed version of these kind of podcasts. It can be immensely helpful people like my father who are running their shops and gain different perspectives and new trends
I worked for reliance retail in groceries and I disagree with a lot of this said here. Damodar mall is legend but the system on ground level is not that impactful. Only reason the Reliance is surviving is by killing the competition not with level of experience. I tried to point out the wrong doings to the management but they don't want work for better experience. I don't want to be negative here but I feel this is only space I should share my experience of working with grocery retail for reliance. But still learnt alot being in reliance.
This strategies work only till the customer realises that he has been fooled and starts buying only what he needs, now I buy only what I need whether by quantity, quality and with value and always buy from multiple places.
I have leased the ground floor of one of our properties to Jio Smart Point. They never have any inventory, they sell off brand stuff, not even chips or Kurkure they have in stocks. In the peak summers they don’t even bother to keep water bottles in the fridge. Needless to say they’re in losses. Never became profitable.
Reliance is not even 10% of what future retail or Kishor Biyani in terms of retail excellence, innovation, customer service etc. They just have the money muscles. Basically kill the competition and than operate individually without any care for customer. The Smart Bazaar stores which previously use to do 80-100cr business jow came down to just 40-45 cr. No inventory, store guys doesn't have a clue anout price and offers. Billings take ages to complete. Just pathetic overall experience
Agreed same experience , i stoped visiting smart bazar shop which is below my building instead i walk 10 min and go to a local shop which has more (fresh inventory) and shop look like a franchise that man has put his heart in building that shop and everyone is happy visiting that shop.
Taking out loans then failing to keep the buisness running is not a success either. And i support neither but common sense it that a business should always be self sustainable.
did anyone notice the price tag still attached on sir Damodar Mall's shirt? Might be after the interview, he will be ironing it properly and keep it for sale.
Haha. You have a sharp eye. No, its not a shirt price tag. It is my work id, which is tagged to my belt. Just flipped, so the back of the id is showing 😊.
The insights were good but mostly related from the store owner perspective. Young brand like ours (Pallavi's Spices) have to give huge margins, offers, spend if one needs premium position, must give appoint a promoter and still wont be sure if things click. It will be a great help if supermarts have a scouting team identifying promising brands and helping them grow manifold in the process ensuring that they too earn good in order to expand their infrastructure concurrent with the growth. Shantanu thanks for this podcast. It was enriching experience.
I think my home is better off with e-commerce. I can see that supermarket stores can lead to impulse purchases, wastage etc. I'd visit such stores once in a quater for product discovery but stick to e-commerce for everyday shopping. One big issue I have with e-commerce is packaging wastage. That said, instant delivery platforms don't send a ton of packaging but their assortment is lacking. I want the best of both worlds that would be e-commerce totally solved - Instant free delivery + minimal plastic free packaging + COD.
@thebarbershop I was worried you stopped making podcasts. It's nice to listen to this one ❤. Regards from Madrid, Spain 🙌. P.S: It's a pity you can't send me your razor preneur product 😝
Great interview. But purely in business terms Reliance Retail is pretty shitty a business. Sure it is really really large but that because has literally invested billions of dollars of their refining profits. But when it comes to innovation/ building a unique business model/ customer satisfaction companies Dmart, Tatas (Westside, Zudio, Tanishq, Croma) are far superior.
Bhai baat sirf itni hai ki, students, working people, travelling or relatives- when want to have tea ☕ or kids asking for biscuits parents intentionally buy smaller pack to control the quantity. So in all, if you solve the concept of KHULLA PAISA, you will see the change. 5 Rupees and 10 Rupees are round figures but 11/12 need change, 100-500 ka chutta nahi karna pasand Bharat mai logo ko 😂.It's that simple 😊
What's new/what's on offer is actually determined by the "Price Point/Affordability", which plays an important role for the footfall and return of the customer again. One shall learn this from D'Mart.
All about pocketing others money when he says purchase potential and purchase habit. In their personal life they follow the minimal and non branded purchases.
Lulu will be a future competitors for Reliance..Reliance is nowhere near to Lulu when it comes to experience..standard..product availability..quality..
I unablr to understand thay why most young enterpreneur or startup founders start focusing on making videos or podcast on youtube instead focus on their running business. They ever says their startup story on youtube . Like script writer , i think this is startup bubble .
I was very interested in the pitch company investing episodes. But I guess after US fed rate hikes funding has dried up and your friends have turned v against you Shantanu
Haha. You have a sharp eye. No, its not a shirt price tag. It is my work id, which is tagged to my belt. Just flipped, so the back of the id is showing 😊.
Haha. You have a sharp eye. No, its not a shirt price tag. It is my work id, which is tagged to my belt. Just flipped, so the back of the id is showing 😊.
What ever Mr CEO is saying is OK but I am sorry to say the staff is not trained and they are busy in there own world and least bothered about the customer's. And the billing counters are always without the STAFF. Mr Ceo PLS LOOK INTO IT
Aise bahut log hai jo ye sab baato se bahut kam relate kar paaenge. As income varies from city to city. Also Reliance clothing is v poor quality and poorest fitting. Consider this as strong feedback from customer
