Multi-channel shopping interfaces: physical stores, malls, e-commerce platforms, social-enabled shopping experiences, and smartphone app based services; the consumer is exposed to all. This article delves into facts on how retailers are trying hands on creating an omni channel experience.
She grew up from times, when shopping meant a trip to the local market and buying fresh vegetables or bring home a monthly refill of grocery. When visits to a fashion retailer in town was once a year affair with limited options and choices. Times have changed and she now has a range of shopping options, from neighbourhood mom and pop stores to large department stores and from modern trade outlets to online e-commerce stores. “Now she is as comfortable haggling with the local vegetable seller as much as she is tapping open apps on her smartphone to scour e-commerce stores for the best deals. As consumers embrace new technologies, the shopping experience has become increasingly sophisticated, enabling new ways for leading retailers to reach their audience” says Ajay Kelkar, Co-founder and COO, HansaCequity unveiling India’s first Omni-Channel Shopper study.
The e-commerce battle in India seems to be very similar to what has already been seen in the Western countries almost a decade ago.In the US, a $5 trillion retail market, retailers like Macy’s, Walmart and Best Buy have built vertically integrated crosschannel models to compete with online competitors like Amazon. Even though two-thirds of American consumers make online transactions, $10 out of every $11 spent today is offline.Also, after mastering in the home country USA for over 20 years, and being eminent in many other countries in the West, Amazon has its stakes placed on the immense, unexplored potential that India presents. “Amazon and Alibaba are in the frazzle to cater to the large 375 million+ online population in India and many more abroad, along with several smaller players, and a new biggie namely Paytm” says Nakul Bajaj, CEO Darveys.com.
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