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Priyanka \n Pani , The Hindu Businessline<\/i><\/p>\n Priyanka \n Pani , The Hindu Businessline<\/i><\/p>\n
Mumbai, \n August 8, 2013<\/i><\/p>\n
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\n Department store chain Shoppers Stop is charting out plans to \n evolve as an omni-channel retailer in a bid to provide seamless \n access to consumers in physical stores as well as online. They \n expect this to make customers buy more — at least 15 to 30 \n per cent more — as some research studies have shown.<\/p>\n
With consumers increasingly turning to online shopping, brick-and-mortar \n retailers are devising ways to stay ahead by offering incentives \n to walk-in customers. The omni-channel strategy is one such initiative.<\/p>\n
Shoppers Stop Managing Director Govind Srikhande said, “Globally, \n several departmental stores, such as Macy’s, John Lewis or \n Sacks have come back strongly through omni-channel retailing. \n About 9-20 per cent of their overall sales come through this channel.” \n He said this trend would slowly catch up with Indian retailers, \n too. The Mumbai-based retailer that got into e-commerce three \n years ago recently revamped its online channel.<\/p>\n
Other retailers, such as Future Group, Lifestyle, Tata’s \n Croma Retail, too, have similar plans.
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Online platform<\/b><\/p>\n
Rajan Malhotra, President (retail strategy) at Future Group, \n the country’s largest retail company, said the firm doesn’t \n want to be a pure play e-commerce or physical store but an omni-channel \n retailer.<\/p>\n
The group’s consumer durables and electronics business, \n eZone launched an online platform three months ago and has witnessed \n a 50-60 per cent jump in sales sequentially, he added. “The \n plan now is to integrate both offline and online in a flawless \n manner,” Malhotra said, adding that eZone’s online business \n will fetch over Rs 200 crore within a year from just Rs 1 crore \n at present.<\/p>\n
The Landmark group’s value retail arm, Max Lifestyle, is \n also planning a similar strategy in the next four-five months. \n However, the company refused to divulge any details fearing competition.<\/p>\n
Devangshu Dutta, founder of a marketing and retail research \n firm, Third Eyesight, wondered whether retailers had the necessary \n expertise to meet customer demands.<\/b><\/p>\n
“They have to invest heavily in creating and integrating \n all the channels and technology systems to act as one,” Dutta \n said.<\/b><\/p>\n
Retailers will have to add quick pick-up counters for online \n purchasers, train their staff to handle instant check-out though \n a smartphone or tablet and gather data to personalise the shopping \n experience, he added. <\/b><\/p>\n