Retail & Consumer KAVACCH™
KAVACCH™ is a specialised offering from M2G for Retailers and Consumer Brands
KAVACCH™ is our proprietary framework backed with several years' of deep-dive in the Retail Industry The KAVACCH™ tool can be put to use for Retailers who offer products & services across Fashion Apparel, Jewellery, Footwear, Consumer Durables, Food & Beverage and other Specialty Retail formats. KAVACCH™ has been created by M2G keeping in mind the specific requirements of Brands and Retailers.
The ‘K’ in our KAVACCH™
Knowledge Management Techniques through Data Analytics
Retailers are endowed with terabytes of data collected over the years through front-end sales, product sell-through analyses, consumer shopping patterns, choice of colors, styles, fabric, markdown and discounting patterns, location preferences, etc.
Using data for day to-day decision making is one; applying data with advanced analytics coupled with a long-term strategy is another.
At the end, it is not the data that is merely put to use, rather the wisdom on how to read the data and infer meaningful outcomes and decipher possible hypotheses which matter.
M2G will be able to partner with Clients to work extensively on data analytics, using advanced tools in collaboration with our technology experts to drive wholistic outcomes in a time-bound manner, with a focus on accurate results to expect.
Our Services
Areas where data analytics could be put to great use by Clients using our KAVACCH Consulting framework include Choice of locations, Merchandising Planning, Buying and allocating to Retail Stores,, Daily Operations, Pricing & Promotions, Warehouse Management for;
- Fashion & Lifestyle
- Consumer Electronics
- Beauty products,
- Food and Grocery
The ‘A’ in our KAVACCH™
Assortment optimisation to deliver higher margins
One of the key frustrations for the store managers that lead to loss of sales, is not having the right merchandise at the right time.These include incorrect sizes, irrelevant styles, fits, colors and designs for specific markets and stock-outs of fast-moving items, coupled with slower reaction time for refills and poor logistics management. Data Analytics for an efficient product assortment is a cycle which includes intervention at every stage of
- Planning designs, cuts, colors and fits for the season / markets
- Placing the right quantities or orders for each geography / store
- Logistics management to ensure timely delivery including refills
- Move merchandise from one store location to the other, using data-backed decision making to ensure faster uplift of merchandise during peak sale periods
Our Services
Using a deep dive into data mining, our Consumer and Retail specialists in Data Science provide cutting edge solutions that cater not just to the Retailer’s requirements at a Strategic level, but ones which are relevant at a particular store or at a location level, such as a specific market or geography.
The ‘V’ in our KAVACCH™
Value Engineering by minimizing costs and maximizing returns
In most cases, Brands & Retailers struggle to keep pace with regular milk-runs for replacing sold-out stocks or moving slow-moving ones from a few stores to other stores.
These lead to increased logistics costs, especially when it includes moving across states, while also making the inventory unused during longer transit times.
After all the effort taken to move unsold inventory from one store to another, it may have lost its potential and become redundant, missing on the peak purchase period.
Our Services
By carefully monitoring and assessing real time data at stores and working closely with the team members of the Client, our Data Scientists can assist retailers to predict movement of SKUs at specific stores, by harnessing advanced Machine Learning techniques and applying the latest Artificial Intelligence models.
The ‘A’ in our KAVACCH™
Advanced Analytics for building Omni-Channel capabilities
Though used liberally by most Brands and Retailers, the concept of a real “Omni-Channel” strategy has been put to best use only by a handful of retailers globally, let alone in India successfully.
It is not about having merely an e-commerce website or a mobile enabled interface or an App that qualifies a retailer to have an Omni-Channel Strategy.
Rather, a “phy+gital interface” combining physical retail with digital interfaces is much deeper and beyond.
Our Services
The Consulting team at M2G, with its demonstrated capabilities on achieving real time results with Omni-Channel Strategies, can assist Clients in realizing the true potential of the opportunity.
We would do so by putting to use, the existing capabilities of the Client, as well as by crafting new models which can be seamlessly be integrated with the existing business framework, no matter how complex they are to be.
The ‘C’ in our KAVACCH™
Cost Optimization including reduction of stock-outs and improved logistics
One of the key challenges Retailers face often, is the quantum of markdowns to offer during the dreaded “End of Season Sale (EoSS)”.
There is a potential of huge margin erosion due to unscientific methodologies used to apply discounting principles, which are not only irrecoverable, but also “under-values” the brand for future purchases.
The cycle of offering deep discounts during EoSS is a vicious one and shoppers sit on the fence awaiting drop-down of prices and this eventually becomes perennial.
Even higher-price higher-value offering premium brands are not spared and is now rampantly seen how several brands have no other choice but to have a longer EoSS window compared to, say 10 years ago when it was no more than 20-25 days (currently 45+ days).
Our Services
The Retail Strategy Team at M2G, along with the our Tech team can unleash lasting strategies to contain the discounting efforts by smartly stitching strategies by increasing volumes as well as driving bill values significantly.
With past data available to understand and decipher meaningful outcomes, the Retail Strategy Team will be in a position to guide Clients in implementing a meaningful EoSS Strategy, which will reduce the erosion of Gross Margins and arrest the temptation to offer higher discounts, which are fully backed with data analytics.
The ‘C’ in our KAVACCH™
Consumer Loyalty and Personalization
The Gen-Z has identified itself quite notorious to be much disloyal to brands and services than their predecessor generations.
In a survey conducted among a section of B-School students, over 82% of them did not remember the brand of toothpaste they used earlier in the morning.
Over 90% of GenZers do not remember the brand of coffee or tea their family consumes. The choice of ordering from a restaurant on online food-delivery apps such as Zomato or Swiggy hinges on two key inputs – the ratings of the dishes and the respective restaurants and / or the discounts they offer at the time of ordering.
One of the key challenges for Retailers today is to draw former shoppers back to the stores, by offering enticing offerings, not just limited to discounts and freebies, The key challenge for Retailers is to draw past customers without compromising on gross margins, which have a deep impact on the Profit after taxes (PAT).
Our Services
Our tailor-made solutions to elongate the Life-Time Value (LTV) of shoppers is backed with decades of understanding consumer behavior across domains such as fashion retail, apparel and accessories, consumer durables, electronics, watches, & other lifestyle categories.
We will assist Retailers to innovate ways and means to drive footfalls into their stores of customers who have
- Retail store loyalty
- Same retailer-location loyalty
The ‘H’ in our KAVACCH™
Harnessing the power of ML and AI
Machine Learning techniques for advanced business decision making such as applying discounts or promos during the non-peak season for apparel and fashion retailers requires a deep understanding of
- Consumer shopping preferences of the immediate past
- Deeper understanding of competitor movements
- Studying and applying the impact of e-commerce
Artificial Intelligence in Retail is currently being tested in various business cases in India across various categories.
In case of Electronics, for example, the choice of merchandise at a particular catchment in the suburbs of a metro city could be significantly different in an upmarket area of the same city.
Same brand-store, same branded electronic item, yet the specifications and use cases for buying could be significantly different.
Our Services
M2G’s extended teams with their deep expertise in ML can help Clients to come up with bullet-proof ideas for execution in
an instance such as mid-season sale.
How much % of mark-down to offer vs a promo such as Buy 2 Get 1 are not instant decisions that should be taken across the table, rather by getting into Big Data, analyzing them carefully in the context of a particular store location and eventually decipher the best possible outcome to be undertaken.
Our Offering
Explore the range of Consulting services that we offer our Clients to solve critical business problems.