It has been 2+ years since the last update here
The last 2 years were eventful for GoFrugal. We continued our momentum and have more than doubled our customer base in the last 2 years. We also made great progress in terms of the breadth and depth of our solutions The verdict is out on the phase I of the battle between organized and unorganized retail. It is clearly the nimble and low-overhead small,
unorganized retailer who won the first round. Clearly, the battle is not over yet and I am sure most organized retailers will come back with increased knowledge, the right tools and the correct economic model required to make it a success
The organized retailers are busy rationalizing their operations by renegotiating rentals and closing down loss making stores, consolidating by acquiring and merging with others, raising finances to improve their balance sheets and to fund their cash flow needs. In contrast, the unorganized retailer is busy modernizing, upgrading and expanding their business
It is going to be interesting when the phase II of competition between organized and unorganized retail is played out. We have seen that both sides have learnt their lessons, both sides know the strengths and weaknesses of the other. Both recognize the opportunity that motivates them to stay in the game and both are aware of the challenges that face them. We are excited by the role technology can play in the profitable expansion and growth of the retail business, as the Indian population grows up
Are we at an inflection point in Indian retail where the organized retailers are forced to look inward and the unorganized ones are looking outward now ?
With so many changes being adopted in the process, technology and the regulatory areas, we see a whole world of opportunity in front of us
– Kumar Vembu