TCNS Clothing Company Limited
Question
I need 5 pages in 12 point font please use as many sources as you find necessary. the case study and instructions are linked. please use at least 4 sources.


Solution
TCNS
Clothing Company Limited
Company’s
Background
TCNS Clothing Company Limited is
India’s leading women’s branded Apparel Company, with Anant Daga as the Chief
Executive Officer. When India opened its economy, the Pasricha brothers,
Arvinder Singh and Onkar Singh, export experts, recognized an opening in the
Indian market and took advantage. The brothers then decide to enter the
domestic market. The company’s name originates from the brother’s grandfather
(Trilok Chand) and their father (Narender Singh). The company first launched
the W brand in a middle-class market in New Delhi with a 3000 square-feet store
that exclusively showcased Indian ethnic wear (Puri et al., 2018). However, the
store closed down upon realizing that the enormous size intimidated most women
as they assumed it was too expensive. One of the brothers, Onkar, stated that
women would look at the store from outside and walk away concluding that it was
pricey. So, the brothers decided to open a smaller store (600-1000 square feet)
in the same market, and business was better to rectify this issue. Being fast
learners, the brothers mastered their customer’s psychology. With its four
brands: Weve, W, Wishful, and Aurelia, the company became the first apparel
company to earn 11.5 billion rupees. TCNS was ranked as the leading apparel
company in 2018 by Technopak (Standard, n.d.). The company sells its products
across India and through multiple distribution channels.
The W brand, TCNS’s main brand, was
worth 2970 billion rupees which led to the company’s achievement. The
Delhi-based store owned the W brand. In 2008, brand W was available in thirty
stores, and by 2017 the stores had grown to 250 (Puri et al., 2018). The early
success of brand W was due to its key characteristic of being an innovative
styling. Indian women were increasingly venturing into formal workplaces, which
created a larger market for the brand.
Moreover, no other major brand
offered competitive products that combined approach, pricing, and targeted
clientele. W altered its brand positioning to focus on fusion wear for Indian
women in order to keep up with fashion trends. W created a product combination
that would be both ethnic and western in response to the customer’s demands.
Brand W accessorized by adding jewelry, bags, and footwear. The brand offered a
complete wardrobe solution that catered to customers’ different moods.
Furthermore, to be the best fusion-wear, it introduced five fresh collections
every year.
Problems
Faced by Brand W And Its Leadership
Triggered by the technological and
lifestyle changes, consumers in India became demanding and valued conscious.
Fast internet connections led to a surge in online shopping. TCNS had been in
the business for years, and acquiring customers was no longer more important
than retaining them. To retain customers, benefits and engagements such as
loyalty programs were essential. Nevertheless, W had not been proactive enough
to create loyalty programs, and most customers who enquired about the programs
were disappointed by the response. Daga, the CEO, did not want W’s strategy to
be one of the discounts, which ended up not catering to W’s loyal customers.
Retail employees also felt the need for a loyalty program, and the customers
wanted a long-term relationship with the brand, but there was no response by
management.
The
Omni-Channel Strategy
W has expanded its online presence by
establishing a website and internet marketplaces, following the trend among
modern Indian women. W operated in a changing industry, where retail behemoths
and internet businesses struggled with returns. After determining that adding
platforms wouldn't be enough, the company decided to go all out on omnichannel
sales. After evaluating its retail strategy, the firm determined that improving
customer experience, corporate performance, loyalty, and retail revenue was
necessary. This strategy is the best for brand W since it coordinates all the
channels to work together. When using the Omni-channel, there is the
convergence of in-store and digital shopping experiences since the strategy is
not only limited to online experiences alone. The most important aspect is
integrating store operations and creating a unified entity with different
interaction options (Indeed editorial team, 2021). Omni-channel also enhances
the ability to collect consumer data which helps the brand provide customers
with a better-personalized experience. In addition, retailers can improve their
services by collecting data on customer engagement and improving the areas that
seem to be lagging.
Omni-channels integrate the channels
of a business; that is, store, mobile and online. Using this strategy for brand
W will enhance customer satisfaction since consumers have the freedom to shop
online or in physical stores. Unlike online stores, physical stores are greatly
affected by the opening hours and location. Therefore, when using the
Omni-channel, customers have access to the store at any time since they can
always shop online even when the physical store is closed. In addition, the
advancement in technology has greatly enhanced these online services, such as
chatbots used by most online platforms to respond to customers. Orders are
taken through the system and payments made, and once the physical shop opens
up, the clients can pick up their items, saving time and reducing congestion in
shops. W would have to re-examine its pricing, segments, strategy, and
go-to-market channels to move to an omnichannel strategy. The brand will also
have to rework its promotional marketing outreach programs.
Critical
Digital and Technical Capabilities
Adapting the Omni-channel strategy
brings in the need to reach customers adequately. With the rapid advancement in
technology and accelerated digitalization, there is a need to ensure that a few
capabilities are met to improve the customers’ experience. Marketing strategy
is one component of ensuring a better digital experience for customers. In a
competitive digital era, changing the marketing approach is necessary to engage
with clients (Tim, 2021). W, for example, may utilize technologies such as VR
(a digital agency that sends branded presents to clients) to bring the in-store
experience closer to consumers. This market strategy would help retain
customers and even attract more customers. So, for brand W to have a truly
Omni-channel strategy, it should consider leveraging both digital and physical
channels for its marketing efforts.
The content strategy is another
consideration that W should consider. Recently, people consume a lot of content
online, for example, video content or audio content. Contents such as audio are
very easy to send and can be used to advertise or notify customers about the
available products. Infographics can also be used to deliver high amounts of
condensed information in a visually attractive package. Furthermore, user and
customer experience are crucial when adopting an Omni-channel strategy. To
ensure that all users have a great experience, the company’s content should be
inclusive of and accessible to everyone. A human-centered approach design (Tim,
2021) can be employed, guided by the customer information collected online.
Moreover, brand W also needs to
consider technical capabilities such as analytical and technical skills. Using
innovative IT and handling large amounts of heterogeneous data is crucial in
Omni-channel retail environments (Hosseini et al., 2017). Therefore, employees
must master software tools and the technologies relevant to Omni-channel
retail. Additionally, employees need knowledge in data analytics to ensure the
safety of customer information; they also need to learn about privacy and
security. Management of Omni-channel technology and infrastructure is also a
critical technical capability. Retailers must be able to manage a portfolio of
heterogeneous technologies, including traditional and emerging technologies,
such as delivery technology, in-store technology, or communication technology (Hosseini
et al., 2017). These technologies help in performing different functions. For
example, in-store technology helps in providing additional information to
seamlessly purchase products in the online shop and reduce idle time. The
delivery technology facilitates timely deliveries, while the communication
technology ensures continuous communication between customers and retailers. Therefore,
retailers must be able to operate an appropriate Omni-channel infrastructure
that allows for capitalizing on these technologies and their interplay.
Recommendations
Technological advancement has caused
digital acceleration, and most people rely on online platforms. According to
Puri (2018), going from an offline-dominant to an Omni-channel strategy was
likely to pose many challenges for W; for instance, stiff competition from
online aggregators and e-commerce platforms with private labels. According to a
study by (Cao, 2019), retail businesses can adopt the Omni-channel strategy
using the perspective of retail business model innovation to build the
analytical framework. Retailers follow a stage-of-adoption model to implement
their Omni-channel strategy. The whole process aims at providing benefits to
both consumers and the firm. In addition, (Cao, 2019) retailers should first
adopt a cross-channel integration strategy and follow a four-stage adoption
model to move to an Omni-channel strategy.
The four-stage model includes the
silo model, which involves selling goods and services through more than one
channel while operating this channel independently. The second stage is the
multi-channel minimal integration, where they optimize established channels
collaboratively, focusing on activities linked to marketing communication with
customers. The third stage, multi-channel moderate integrations, where they
optimize established channels collaboratively, focusing on activities linked to
consumer transactions. The fourth stage is multi-channel full integrations,
where they focus on activities linked to consumers’ seamless shopping
experience as they optimize established channels collaboratively. Moving stage
by stage ensures that consumers have a seamless shopping experience and allows
W to create synergy across channels.
References
Cao,
L. (2019). Implementation of omnichannel strategy in the US retail:
evolutionary approach. In Exploring omnichannel retailing (pp.
47-69). Springer, Cham.
Hosseini, S.,
Röglinger, M., & Schmied, F. (2017, December). Omni-Channel
Retail Capabilities:An Information Systems Perspective.
Kernkompetenzzentrum Finanz- & Informationsmanagement. https://www.fim-rc.de/Paperbibliothek/Veroeffentlicht/683/wi-683.pdf
Indeed
editorial team. (2021, April 10). What is Omnichannel in retail? (Definition
and how it works). Indeed Career Guide. https://www.indeed.com/career-advice/career-development/omnichannel
Kim.
(2021). Digital strategy for omnichannel digital experiences. Agiledrop
• Your trusted PHP and JavaScript developers. https://www.agiledrop.com/blog/digital-strategy-omnichannel-digital-experiences
Mathew,
J., Dey, B., & Puri, S. (2018). Brand W: Strategizing for Omni-Channel
retail. Ivey Publishing.
Standard, B.
(n.d.). TCNS Clothing Co. Company history - Business standard news | Page 1.
Business News, Finance News, India News, BSE/NSE News, Stock Markets News,
Sensex NIFTY, Budget 2022. https://www.business-standard.com/company/tcns-clothing-co-68851/information/company-history




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