Sharma Ji’s Store- The Path to Revival of Indian Economy | Data Sutram

Sharma Ji’s Store- The Path to Revival of Indian Economy

FinancialLocation IntelligenceRetail
Samriddhi Ganguly

Samriddhi Ganguly

August 8, 2021

0clap

Sharma Ji’s Store- The Backbone of Economy

Dotting the sides of each kaccha and pakka street of the nation, the local stores are where “Real India ‘’ shops. With India’s retail market estimated at $883 billion, the small and medium-sized Kirana stores enjoy the confidence of a large local customer base and account for more than 75% of the consumer goods market. With the surge of the pandemic and lockdown, the local Sharma Ji’s store witnessed a 39% growth, catering to every crevice of the country.

Not So Glittery

Despite the attractive numbers, the local retail outlets are posed with obstacles in every walk. Working on a tight budget, the mom-and-pop stores run the risk of not being digitally equipped. Stiff competition from e-commerce giants’ hyperlocal delivery model demands them to upscale their shelves and environment. However, financial challenges, the inability to seek loans due to lack of collateral gets them in a jam.

How Close are we to “Sabka Vikas?”

A developing economy like ours does not offer a smooth operational atmosphere for SME space that contributes to a lion’s share of GDP and employment.

· Lack of capital, funding, and resources makes the sector challenges.

· Out of the $1 billion working capital loan market, banks and larger NBFCs have a stronghold only in the $60–65 million section.

Even as Small and Medium Enterprises contribute to one-third of the GDP, a credit gap of $400 billion exists. High-interest loans and chit funds that send them down a spiraling debt trap, leading to-

· High delinquency

· Weak credit demand

· Low private loans to GDP ratio

Financial Inclusivity

Thanks to emerging technology, the 5 C’s of creditworthiness and CIBIL score are not the only benchmarks of SME Lending. Fintech start-ups are increasingly partnering with Location Intelligence platforms to uncover hidden stories about India’s micro merchant DNA.

· Scan the map of an area using the lens of a lender

· Get insights into the economic activity, affluence, customer footfall, and business potential

· Gauge creditworthiness and delinquency

· Merchant score is assigned by geocoding loan data

· Enhance decision-making speed about granting microloans to those without a collateral

Grid Level Analysis of consumer demographics for extracting Location DNA

Kirana Stores- A New Renaissance?

This unorganized segment includes 13 million Kirana stores pan-India, contributing to 11% of the GDP and 8% of the informal workforce. Modernization of 10% of these stores would boost retail consumption and propel employment, generating 3.2 million jobs. It is the need of the hour to finance the credit gap that the millions of Sharma Ji’s stores are facing and revamp them so that the revenue-generating embers do not get stifled out by e-commerce giants.

clap0 claps

LIKE WHAT YOU READ?

Connect with us to know how
Datasutram can help your business

Articles for you

The Fintech Cauldron- Loan Risk Calculation in SME Lending

The Fintech Cauldron- Loan Risk Calculation in SME Lending

FINANCIAL

SMEs are capable of strengthening the economy, but are often stuck in a vicious loop restricting their access to credit. Can Location Intelligence serve as the solution?

Samriddhi Ganguly

Samriddhi Ganguly

September 9, 2021

Top 4 Reasons why businesses need Location analytics

Top 4 Reasons why businesses need Location analytics

LOCATION INTELLIGENCE

Read more on how Location Analytics can help businesses from a 360° operations point of view!

Shraddha Singh

Shraddha Singh

September 2, 2021

Location Scorecard- The alternative Credit Bureau

Location Scorecard- The alternative Credit Bureau

FINANCIAL

Alternative Data has been selling like hotcakes - but how can it be leveraged?

Sagnik Sarkar

Sagnik Sarkar

August 19, 2021

Top 3 ways of Merchant Onboarding by Financial Institutions

Top 3 ways of Merchant Onboarding by Financial Institutions

FINANCIAL

With an increasing adoption rate of digital payment services, brick and mortar store payments cease to function traditionally!

Barnika Bhandari

Barnika Bhandari

August 17, 2021

Sharma Ji’s Store- The Path to Revival of Indian Economy

Sharma Ji’s Store- The Path to Revival of Indian Economy

FINANCIAL

The backbone of India's retail economy lies in the kirana stores- but what's next for them?

Samriddhi Ganguly

Samriddhi Ganguly

August 8, 2021

India’s fintech boom — Is it progressing in the right direction?

India’s fintech boom — Is it progressing in the right direction?

FINANCIAL

Necessity may be the mother of invention; but disruption is the true driver of innovation!

Barnika Bhandari

Barnika Bhandari

August 5, 2021

Why Indian banks need to reconsider their strategy NOW!

Why Indian banks need to reconsider their strategy NOW!

FINANCIAL

Can the disruptions introduced by the massive success of the fintech sector become the New Financial Normal?

Sagnik Sarkar

Sagnik Sarkar

July 29, 2021

Understanding Bharat — Decoding the DNA of Indian Merchants

Understanding Bharat — Decoding the DNA of Indian Merchants

FINANCIAL

The fintech sector aims at revolutionizing the SME lending space and decode the Merchant DNA with technology and a new vision - is this the financial change India needs at its grassroots level?

Samriddhi Ganguly

Samriddhi Ganguly

July 22, 2021

The Housing Finance Sector and Their Need for Geospatial Analysis

The Housing Finance Sector and Their Need for Geospatial Analysis

FINANCIAL

Location Analytics - Providing Key Business Insights For The Real Estate Finance Sector!

Barnika Bhandari

Barnika Bhandari

July 15, 2021

Creditworthiness and Delinquency- Mitigating risks using Location Intelligence

Creditworthiness and Delinquency- Mitigating risks using Location Intelligence

FINANCIAL

Merchant acquisition made 2X times efficient with transformative bank models!

Samriddhi Ganguly

Samriddhi Ganguly

July 8, 2021

Hyperlocal Geotargeting using Location DNA for Retail Businesses

Hyperlocal Geotargeting using Location DNA for Retail Businesses

LOCATION INTELLIGENCE

“Hyperlocal marketing” or “Hyperlocal geotargeting” has turned a buzz word post the emergence of user-created journalism- and rightly so. Read on more to understand why this is a crucial aspect businesses must have!

Sagnik Sarkar

Sagnik Sarkar

July 1, 2021

Top Trends in Geolocation for 2021

Top Trends in Geolocation for 2021

LOCATION INTELLIGENCE

Location intelligence (LI) technology has evolved at a faster pace. Companies are discovering new use cases for LI, from crisis management and field force monitoring to supply chain management. Let’s take a look at some of the key trends that will shape the localization industry in 2021.

Shraddha Singh

Shraddha Singh

June 25, 2021

Going Hyperlocal: The Next Big Thing For India’s Pharma Industry

Going Hyperlocal: The Next Big Thing For India’s Pharma Industry

LOCATION INTELLIGENCE

There is a massive dearth of predictive analytics to understand consumer behavior to streamline OTC product marketing, especially FMCG/non-prescription drugs

Rajit Bhattacharya

Rajit Bhattacharya

December 31, 2020

How is Big Data impacting the e-commerce industry?

How is Big Data impacting the e-commerce industry?

RETAIL

Big data helps businesses navigate their way through a jungle of data. They can extract relevant information, and analyze it to optimize all facets of business.

Rajit Bhattacharya

Rajit Bhattacharya

January 13, 2021

How Businesses Can Up Their Game Using Location Intelligence

How Businesses Can Up Their Game Using Location Intelligence

LOCATION INTELLIGENCE

Apart from AI, big data analytics, ML, Today Locational Intelligence (LI) is another such innovation that has recently joined the technology bandwagon.

Rajit Bhattacharya

Rajit Bhattacharya

January 19, 2021

Four Ways AI And Location Intelligence Are Guiding The Future Of Business

Four Ways AI And Location Intelligence Are Guiding The Future Of Business

FINANCIAL

Businesses are working through digital transformation and are handling pandemic-related recovery issues, they’re dependent on technologies—both proven and innovative—to stay on track.

Rajit Bhattacharya

Rajit Bhattacharya

January 28, 2020

DataSutram launches its Plug & Play Location Intelligence Platform

DataSutram launches its Plug & Play Location Intelligence Platform

LOCATION INTELLIGENCE

DataSutram launches its Plug & Play Location Intelligence Platform, enabling businesses to make faster data-driven decisions

CXO Outlook

CXO Outlook

Febuary 15, 2021

How Smart Cities can be Smarter using Location Intelligence

How Smart Cities can be Smarter using Location Intelligence

LOCATION INTELLIGENCE

What if we are able to track the progress of a smart city in terms of human capital, opportunities, and so on?

Data Sutram

Data Sutram

December 22, 2020

Steady Supply of Resources in times of a Pandemic

Steady Supply of Resources in times of a Pandemic

RETAIL

COVID-19 has provided as opportunity for Datasutram to showcase the utility of their analytics engines. The founders claim they have managed to increase deliveries by more than 30 percent for some of their clients. Among products they facilitated are hand sanitisers, medicines, essentials, among others.

Money Control

Money Control

April 22, 2020

Hyperlocal 15-min cities and Location Intelligence

Hyperlocal 15-min cities and Location Intelligence

LOCATION INTELLIGENCE

Location Intelligence could be put to use in one of the C40 cities — Bengaluru. The entire city could be divided into 650+ 15 minute cities.

Data Sutram

Data Sutram

November 18, 2020

Location intelligence for business insights

Subscribe to our newsletter

© 2020 Copyright: Extrapolate Advisors Pvt. Ltd.
© 2020 Copyright: Extrapolate Advisors Pvt. Ltd.