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Indian Retail in a multi-channel world

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Information about Indian Retail in a multi-channel world
Technology

Published on February 28, 2014

Author: indiaRAI

Source: slideshare.net

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Indian Retail in a multi-channel world Feb 27 2014

The consumer is changing….. 21st Century Consumer “Share-of-Watch leads to share of wallet”

The consumer is changing….. RAI – PWC survey on “Total Retail” , Feb 2014 N = 1000 Convenience Plays.

The consumer is changing….. Not just price. Range. “Endless Aisle” RAI – PWC survey on “Total Retail” , Feb 2014 N = 1000 47% of customers spoke about range as the main reason to buy online. 51% mentioned price.

Retailers State of Mind Source: Retail Operations Benchmarki ng Excellence Study, ROBES, 2014, RAITCS study Multi-channel and customer experience are key 2014 priorities.

Ecommerce channels (non-store channel ) of brick and mortar retailers. Higher growth, higher cash memo size, lower returns. Source: Retail Operations Benchmarking Excellence Study, ROBES, 2014, RAI-TCS study Brick and mortar retailers have found that their online cash memo size is 12% higher than in-store.

Ecommerce channels (non-store channel ) of brick and mortar retailers. Higher growth, higher cash memo size, lower returns. Harvesting benefits from “TRUST” Source: Retail Operations Benchmarking Excellence Study, ROBES, 2014, RAI-TCS study Online returns of Brick and mortar retailers are <3% significantly lower than pure-play Etailers.

Environmental triggers for Retail 3.0

Coping with a multi channel world

How do retailers cope with “Showrooming”? • By accepting it as a fact of life. • There will be customers of the market places who come to us for the service experience. • We have found “Click and Collect” to be a viable solution. Duncan Grant, Multichannel Director, The Entertainer We need to ask “What can I do that others can’t?”

Learnings from the UK Market. Four facts about the UK market in terms of market maturity: 1. Every UK resident has a bank account 2. 76% of UK residents have smart phones 3. All families have a tablet 4. The courier / postal system covers most of UK. In spite of that online sales at a market level is at 10%. Online sales in the UK = £ 7 bn.

Things to think about : Purchase process “Found it. Can you pay for it…?” Multi channel can deliver new purchase paradigms.

Summary Build on Trust. Create “Endless Aisles” Increase “Share of watch” Plan for Retail 3.0 Range / Quick Check-out of online PLUS Instant gratification of Brick and Mortar. Puchaser Payor User

India retail snapshot Feb. 2014 “Build for Value, not Valuation” – Kishore Biyani @ the Retail Leadership Summit, Feb 2014. © Retailers Association of India

Indian Retail in a multi-channel world Feb 27 2014

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