Industry Knowledge
9
Min Read

Retail 101 with the Sharks

shark tank
Published On
February 2, 2023
TABLE OF CONTENTS

Is it just me or have you been binging on Shark Tank India, too? 😯 Well, if you haven’t watched it I am sure you couldn’t have missed the crazy memes & punches from the show. I also had the privilege of meeting one of the Sharks last year & she was an absolute delight.

Hey there,

Is it just me or have you been binging on Shark Tank India, too? 😯

Well, if you haven’t watched it I am sure you couldn’t have missed the crazy memes & punches from the show.

My favorite from the show has to be Vineeta Singh from Sugar Cosmetics. The way she has built Sugar to become a million-dollar beauty brand, and the way she stands up for women's empowerment has always inspired me.

I had the privilege of meeting her last year & she was an absolute delight.🥰

With Sugar now scaling up its omnipresence, She talked about her vision to cultivate and provide a unified customer experience to customers across both offline & online channels.

Omnichannel now being the new cool with offline retailers moving online and the online ones opening their offline outlets, I thought to share those insights with you below:

📝5 Retail lessons to learn from SUGAR’s Omnichannel Strategy:

Even though the brand at first was quite inclined towards an “online first” marketplace, but soon realized the power of providing a seamless experience to customers via all channels, and since then, SUGAR has been bullish in expanding its offline presence!

The brand currently has a 50-50 split between its offline & online revenue which is nothing short of a dream for any brand.

Here’s how they are doing it right:

Having talked numbers, let us look at some lessons retailers could learn from SUGAR’s undisputed e-commerce & omnichannel strategies:

  1. Integration of Online and Offline Channels🌐:

SUGAR Cosmetics has effectively integrated its online and offline channels, ensuring that customers have a consistent shopping experience, regardless of where they interact with the brand.

  1. Personalization🫱🏽‍🫲🏽:

SUGAR Cosmetics uses customer data to personalize the shopping experience, such as providing recommendations based on previous purchases or showing products that are popular with customers with similar preferences.

  1. Customer-centric approach🛍️:

SUGAR Cosmetics ensures to put its customers at the center of its omnichannel strategy by collecting & analyzing data on its customers’ behavior and preferences in order to provide a seamless shopping experience across all channels.

  1. Use of Technology🧑🏽‍💻:

SUGAR Cosmetics leverages technology to enhance the customer experience, such as

  • Using virtual try-on technology to allow customers to try products before making a purchase.
  • Integrating AI and machine learning technology into their CRM system to optimize personalization efforts.
  1. Strong Social Media Presence📲:

SUGAR Cosmetics has a strong social media presence and actively engages with customers, providing a platform for customers to share feedback and connect with the brand.

📚 Story of the Week: How a leading fine-dining Restaurant increased its Repeat Sales by 26%

Well undoubtedly, omnichannel will be one of the biggest trends in the retail industry this year.

And Xeno has been enabling brands to achieve this omnichannel vision,

Recently we partnered with one of India’s leading fine-dining restaurants to do the same!

With the correct personalization, they not only elevated their customer experience but also increased their repeat sales by a whopping 26% 🚀🚀

Want to know HOW?

👉🏽Learn all the step-by-step strategies; Check out the case study, Here

That’s all for today folks!

I hope you enjoy this week’s edition & learned something new!  Remember, life is short, but newsletters are just the right length.😛

Until next time, keep smiling and stay curious!

Marketing & Content Strategist

Anisha Arora is an experienced Marketing & Content Professional who often breaks down complex topics for readers here. She collaborates with various teams to seamlessly combine different viewpoints and knowledge about customer retention, CRM, loyalty, and marketing technology. When she's not working, you'll find Anisha sipping coffee and binge-watching her favorite TV shows.

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