Re-incarnation of offline Retailers!!!!!!!!!!!
E-commerce has changed the way we shop. Customers are very well aware of the product they plan to buy and indeed they look out for the best price. The concept of “show-rooming” which was prevalent when the mall culture was on rise has now given rise to “Reverse Showrooming” wherein customers walk into the store for the product but checks the price online with his smartphone or tab and then buys online as he got the best deal.
Big Billion day now synonymous with Flipkart has been a big success this year. Even Snapdeal and amazon have initiated their festival sale. Jaw dropping discounts by these e-tailers have taken the Indian customers by storm.
What about the various offline retailers??? Haven’t they taken a note of the change in business dynamics.
Indeed they have and almost each one of them may it be TATA, Birla, Reliance and many more have ventured into the online arena. But the dilemma for these organizations are that they have already invested heavily in the brick and mortar segments and are yet to break even in many cases and if they follow the jaw dropping discount system of their predecessor then their brick and mortar store would be adversely affected .
Offline retailers have taken a note that digital presence is mandatory but are these two different businesses???? The answer is “NO”!!!!!!!!!!!!!!!!! OmniChannel Retailing is the way forward. The retailer who would pioneer it would be the champ.
Human Beings by nature love to socialize. So the malls, electronic retail chains and hyper markets are not only the place to shop but also to socialize. Also research has indicated that online traffic surges during week days but during the weekends and festivals the traffic flows to offline retailers.
Eminent Retail chains have taken a note of it and have created seamless infrastructure for omni channel retailing wherein is customer pays online and picks up the product from the nearest store in his neighbourhood.