UNLEASHING THE POWER OF FRANCHISING: RETAIL AND GIFTING INDUSTRY EMBRACE THE BOOM!

In 2023, the franchise industry is poised for unprecedented strength, with franchise models undergoing significant evolution in recent years. In response to the rapid pace of change, numerous companies, gifting brands included have adopted innovative strategies to ensure their ongoing success

- Pawan Gadia

The key trends that define the retail and gifting franchise sector are as follows.

1 Omni channel Retailing: Brands along with their franchise partners are increasingly adopting an Omni channel approach, integrating online and offline channels to provide a seamless shopping experience. This trend involves offering options such as online ordering with in-store pickup, virtual shopping assistance, and consistent branding and customer service across various touchpoints.

2 Retail Technology and Automation: Franchises in the retail industry are increasingly embracing technology to enhance operational efficiency and improve customer experience. The pandemic has only expedited the process. Apart from including POS systems, CRM tools, and other automated fulfillment processes, franchises will increasingly explore innovations like self-checkout kiosks, in-store interactive digital displays, and augmented reality (AR) for virtual product try-ons.

4 Personalization, Customer Engagement and Product In