Indore: Consistency is the key to survival in the coronavirus era, especially in the retail sector. Citing how he used this insight into building his business and explaining the retail business model, entrepreneur Rajat Bhargava held an online interactive session with management students.
In the discussion, Bhargava spoke about the viability of beginning a start-up in Indore. “There are too many setups in metro cities and smaller cities are less adaptive, so Indore, a tier-II city is perfect in many ways for both retail and luxury to begin and grow,” he said.
He saw the consumers’ needs for elite treatment and bridged the gap. “COVID-19 has one of the biggest hit to retail sector especially all those goods and services which qualify as a luxury,” Bhargava said.
He added that working into luxury is more difficult, and if that is possible in Indore, it is clear that Indore is a great place for retail stores.
“In luxury, it is more essential to have that trust from customers and my family’s history in retail helped me in the name as trust comes with a name,” Bhargava said.
After completing his education, Bhargava decided to venture into building his current family business.
He took small steps and expanded the arena catering to elite customers with a niche store. “Treating employees with respect and working with my set of rules and ethics is what has helped me grow,” Bhargava said.
He graduated with BA Hons Business Administration & has specialised in Retail Marketing and Managing a chain of Retail stores in Indore.
“One should never judge a consumer and treat every client important, as you never know who can or cannot buy,” Bhargava said.