Lessons from a downturn

Assuming that the downturn days are over and things are looking back , what are takes on the lessons for retailers from the downturn , these are takes ::

Don't be greedy : The mad rush for retail spaces was just led by the sheer blind leads the blind principle and in the process has led to some unwarranted locations with brands .

Remember things can be gloomy again ::straight forward lets not assume, there is no downturn again .

Don't believe the media :: this one is the key just don't believe the media , they ultimately have to sell their story right , so when the say India is shining , economy is growing , consumption story etc , pls take this with the pinch of salt as we are sure that they are not sure on what they are talking or writing about .

Value is in always , premium is in once in a while ::The downturn has clearly shown that if you are in the value play you needn't worry , however players in the premium segment have had nightmares and can continue to have it going forward .

Cost is always a priority -not only when things are down alone :: its surprising to see firms getting into major cost optimisation mode after the downturn signs , but isn't cost optimisation a normal business imperative , of course without any major business impact .

Me too wont help , where is the X factor ?:: Retailers cant be playing the me-too game , consumers are not seeing any difference , retailers need to drive the difference , maybe by service , product ,or technology .get the X factor , Indian retailers have no difference at all , whats the difference between a shoppers , lifestyle ?

Structure needed is always lean and fit :: Structure to be always slim and fit and all consumer facing units can be in house and all the other non core staff could be outsources , telecom style ?

Trust Indian retailers would learn and emerge stronger from the downturn , lets see