‘Globalization’, ‘Global Supply Chains’, ‘Global Vil- lage’, we hear these terms frequently about our Planet Earth; which has its own journey of evolu- tion from Local to Global. Mankind has explored dif- ferent countries of the planet earth for trade, travel, communication, exchange of needs/wants through various mediums. This has led mankind to exchange, movement with free will.
Covid 19 pandemic has shifted the focus from Global to local; to protect and safeguard their own popula- tion by restricted physical movement and trade. Mar- kets and Supply chains have been disrupted; leading to search of shorter supply chains. The trend ob- served is that neighbouring Countries coming to to- gether and supplying to their own Country and Con- tinent, like UK –Europe- Africa, North -South America, Asian Countries etc. Globally each of the Countries started the movement of #vocalforlocal. Government supports Local movement but it also supports FDI’s. There is a clear indication that without being Global, a Country cannot survive.
In Local, Retail is distorted, there in new channel con- sumer is exploring like buying from Reseller (home entrepreneur), social media, e-commerce, many more. India celebrates the festival and wedding sea- son as larger than life. So a few clothing categories like wedding wear, festival collection of garments have some advantage of physical buying. Lack of knowledge of the properties of diferent fibers, fab- rics which are mentioned in description on the new channels, Consumer still prefer to feel and touch the garment before buying. This will help sustain physi- cal retail as compared to others. Retailers, manufac- tures need to make their strong presence in the new channels; apart from traditional channels to gener- ate leads and branding.
Wish you fruitful Festival and Wedding Season… !
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