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Future of retail is omni-channel: Report
Jun '17
The future of retail is adoption of omni-channel strategy, according to a report. Omni–channel retail gives consumers a single, holistic view of the retail business by using different channels in a customer’s shopping experience like-mobile, online stores, mobile apps, telephone sales, physical stores and any other method of transacting with a customer.

This trend towards an omni-channel strategy will enable retailers to re-think their business strategy in order to tap the best of both worlds and maximise on footfalls, stated the report by Jones Lang LaSalle (JLL), a leading professional services firm that specialises in real estate and investment management.

Retail industry in India is witnessing an increased focus on leveraging technology across functions of merchandising, supply chain, store operations, omni-channel operations, customer engagement and fulfillment, accoding to the report. Both retailers and retail spaces have to contend with a growing urban population, and one that is increasingly knowledgeable and demanding.

Offline and online retailing will co-exist in India; however, offline retail itself has a lot of potential to grow, the report said. Offline retailers who have limited warehouse infrastructure, may remodel their stores to add direct order fulfillment and stocking in the back office. The retail spaces can be more vibrant by providing more leisure activity. Curated mix of smaller stores in designated spaces within malls can add a sense of uniqueness.

For retailers, the key to keeping the consumer entertained is to integrate physical and digital experiences to provide an interactive and all inclusive in-store experience that is combined with excellent service. Innovative retailers are responding, and adapting store formats to provide the interactive element that many consumers now desire. (RR)

Fibre2Fashion News Desk – India

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