kirana store business – Bada Business

5 Ways Small Kirana Store Owners Can Make Big Profits In 2022

Summary: With Grofers, Big Basket, and now Flipkart and Amazon delivering daily groceries many small Kirana owners are worried about their sustainability. But do they have to worry about the future of Kirana stores? Let`s find out.

India has always been a country in which two contrast opposite worlds coexist. One world belongs to the top 5 percent that only talks about luxury cars, boutique hotels, and bungalows, while the other half belongs to five-rupee biscuit packs and one-rupee shampoo sachets.

This stark reality also supports the recent study by EY according to which 79% of Kirana stores in non-metros and 50% in metros saw new customers amidst the pandemic and even after that.

A Kirana store is the backbone of the Indian grocery market. And when the world was grieving under the pandemic these stores have proved extremely beneficial to keep our plates filled with food. A Kirana store is like a departmental store that caters to the need of the daily essentials of people. It is mostly present on every corner of the street.

According to The Hindu, there are around 12 million neighborhood Kirana stores that dominate the domestic grocery retailing landscape of India with a 90% market share. During the pandemic, they have emerged as heroes, with people depending on them to procure daily essentials.

Another study by EY states that 20% of Kirana stores are also embracing digital platforms to order their supplies.

Kirana stores will remain evergreen as most of the people in India still rely on their local grocery stores for essential needs. Though many eCommerce brands are swearing by the innovative direct-to-customer marketing in retail, the fact is that it was local Kirana stores that have traditionally serviced the daily needs of the customers directly.

However, many Kirana store owners are still working on old and traditional methods due to which they are struggling with sales and customers.

So, if you are planning to open a Kirana store, or already have one, 2022 can open a store of opportunities for you. Here are five ways in which Kirana shop owners can increase the profits of their small businesses in 2022:

1. Embrace Technology

The pandemic has shown a new direction and world to businesses and customers too. Almost everyone prefers digital transactions as they do not want to expose themselves courtesy to infection. Today, when everything is available online, taking your Kirana store online can be a profitable scheme.

The online Kirana store is not a new concept. Many Kirana store owners have started selling their products online. Taking their Kirana store online provides a wide exposure and helps to boost sales as it allows customers to place orders from the comfort of their homes.

2. Create USP

Owing a Kirana store means facing a lot of competition. Hence, to ensure that your store keeps up with the competition, you must give your customers a unique experience that they don`t receive at other stores.

In a Q&A session with Dr. Vivek Bindra- the best motivational business coach in India, a Kirana store owner asked him how to increase his sales. To which he replied that he should create a unique selling point for his business. One option could be that most of the Kirana stores remain closed on weekends. This is a perfect opportunity for you to attract customers and improve your sales. While other shopkeepers would be busy sleeping or enjoying their weekends, you can boost your sales.

3. Build a Website for Your Store

To gain more customers, you can also list your Kirana store on various online shopping websites like Amazon and Flipkart. You can easily register your store online, and if anyone purchases a product, you can parcel the same to them.

Apart from listing yourself with giant sellers like Amazon, you can also create a website online. This will give your regular customers the convenience of ordering from the comfort of your home. If you already have a website and still you are struggling when it comes to scalability, you can also consult with the best business coach in India.

4. Focus on Customer Relationship

Relationship with customers is the key to higher sales. And, building a relationship with customers ensures that they do not go to your market competitors. Talk to your customers nicely, and give them a unique experience so that they come to only your shop. You can also offer discounts on various products, as it is the best way to attract customers.

Understanding your customers is important in any business. If you are the owner of a Kirana store the above-mentioned tips will help you to boost sales. You can also upgrade your Kirana store into a departmental store with zero to low investment.

You can boost your sales easily with the right guidance of a business expert. Learn to generate high revenue earning products for sales, generate payment links for customers, managing account-related details. Get your marketing game back on track. Grow through self-learning and see your website traffic increasing with marketing collateral designed especially for you. Learn more here: https://www.badabusiness.com/psc

How To Build A Kirana Store Business From Scratch

Kirana Stores are undoubtedly the lifeline and the favorite of every middle-class Indian household. No matter how much we progress as a nation and no matter how much we learn about digitization, we would always find ourselves ending up at that Kirana store just around the corner for every other thing.

What Is A Kirana Store, After All?

A Kirana store is a general department store that stocks and sells all kinds of household items, especially the ones that belong in the kitchen like groceries. Depending on the funds you have available or raised, you can decide the grandeur of your store or shop. Mentioned below are the key steps that you need to take in order to build a Kirana store of your own.

What All Do You Need To Take Care Of To Build A Kirana Store?

Every Business Starts With A Solid Plan first and foremost, you need to conduct thorough research based on which you will prepare a great and realistic business plan. You really need to identify what is the kind of customer base you would want to target. You need to then figure out what their prices are, likes, and dislikes. By observing what is the financial status of your target customer, you can plan the pricing of the commodities/products you are planning to sell. All in all, you need to

Know your customer preferences
Recognize their buying potential
Be aware of their financial status
Check for the competitors and their winning strategy

Choose your Location Wisely

Be Wary of the location you chose because the well-being and growth of your business depend a lot on this factor. Either choose a location where you can capture a bigger market but keep in mind that the better the market, the tougher the competition. If you chose to serve a bigger market, make sure you have something unique to your business that could attract customers. On the other hand, you can open this store at the outskirts for the customers who drive far off to the city just to make day to day purchases.

Arrange The Funds And Prepare The Stocklist

The two most critical factors in building a successful Kirana store. Once you are done choosing the location, please set your focus on arranging funds to take care of building your store or renting it, and all other expenses that tag along such as salary of the staff, utility bills, etc. Along with this, you also need to look after the inventory management. Focus on the products that are sold immediately and the demand never goes down. Do not stock too much, neither too lease. Just try and strike that balance to earn yourself a decent profit and keep the business running.

Work On Customer Retention

Always try and maintain a good rapport with your customer especially those who are quite regular at your store. Be a keen observation of what all the customers are demanding that your inventory still lacks. Ask for their feedback and always ensure supreme quality products. Work on the look, feel, personality, offers, AND digitization of your store because it is always important to keep up with the change and the need.

A Kirana store is a business made for people and made by people. It is no rocket science to set up a Kirana store but surely requires you to treat your customers as your top priority while retaining them for years to come. If this has ignited the fire in you to start your Kirana business, our goal is achieved.