THE FUTURE OF RETAIL EXPERIENCE IS A MÉLANGE OF ALL CHANNELS

There was a time when retail was only about the product. If you had a great product, the customer would buy it. But over a period of time, technology evolved, the online space grew and with this came the age of convenience.

Customers started looking for convenience anytime, anywhere free home delivery, COD, free returns, and ease of returns. Today's customer has evolved and now wants the best of both worlds - he wants both quality and convenience.

Companies with a customer experience mindset generate 4-8% more revenue than their competitors on average. As a result, the customer-first strategy has become a competitive advantage, key differentiator, loyalty booster, and a driver for repeat purchase.

Also, as a category, fashion has lower barriers to entry as compared to other consumption verticals. Numerous new, small players - typically digital-first-are redefining customer engagement and shopping experiences through social media and data-driven personalisation. On the other side, brick-and-mortar stores are seeing a resurgence of their power as 'theatres' for customised in-store experiences that not only surprise and wow, but also educate the consumer through storytelling and human interactions.

Retail Experience of the future will be a mélange of all channels. So then, with the sweeping change in the consumer behaviour landscape, what should the future of 360-degree fashion experience look like?

In a session held at India Fashion Forum 2024, fashion retailers from across the spectrum shared their views on how to make customer experience great for fashion consumers once again. On the panel of experts were:

• Lavanya Nalli, Vice Chairperson, Nalli

• Manish Kapoor, MD & CEO for India, Pepe Jeans London

• Rohiet Singh, COO, PVH Arvind Fashion Pvt Ltd (Tommy Hilfiger & Calvin Klein)

• Sanjeev Rao, CEO, Being Human Clothing

• Sugam Asani, Chief Brand Officer, BESTSELLER India

• Sukanya Dutta Roy, MD, Kama Ayurveda

The session was moderated by Rajesh Jain, MD & CEO, Lacoste India.

Using Technology to Enhance CX