Indian Retailer recently collated the top 100 omnichannel brands in India on the basis of their performance in the mentioned business for the past 5 years. This is a mix of corporates (both domestic and global), SMEs and D2C brands across categories like fashion, footwear, accessories, jewelry, FMCG, food and grocery, cosmetics and personal care, pet care, electronics and home improvement.
Key Factors that Drove Omnichannel Retailing in India
(Sources: Growth of Digital Commerce in India Business Report, Produced by Franchise India & Entrepreneur India)
Pandemic led e-commerce to cover more than 10% of overall retail
This led a slew of solution providers in tech integration, fulfilment, warehousing, etc
Retailers saved on real-estate investments and could offer a wider catalog online
Influx of social commerce served as major marketing channel
43% of the Indian population are internet users and more than half of them are shoppers
Retailers could merge retailing channels through features like try-and-buy, buy-online-pickup-at store etc.
Key Reasons Why Consumers Don’t Buy Offline
Complicated Return/ Refund policy
Special Discounts/Sale as on ecommerce
Logistics of travel/long queue at checkouts
Limited merchandise choices
Inability to compare prices with other stores/brands
Key Reasons Why Consumers Don’t Buy Online
Is this site dead or alive?
Lack of promise – return, refund, quality, delivery, price
Lack of social proof
Lack of branding
Lack of immersive web experience
Cyber fraud
Misuse of disclosed data
Top Omnichannel Actions
Rapid Offline Expansion
Expansion across Online Marketplaces
Buy-Anywhere-Delivery-Anywhere
Click-and-Collect
Endless Aisle at Storefronts
Personalization
Self-checkout
Unified shopper experience - communication & price parity across channels
Growing D2C Business / Development of in-house app
AR/VR across channels
(Source: Shoppers Study from Growth of Digital Commerce in India Business Report Produced by Franchise India & Entrepreneur India, 2023)
Indian Retailer recently collated the top 100 omnichannel brands in India on the basis of their performance in the mentioned business for the past 5 years. This is a mix of corporates (both domestic and global), SMEs and D2C brands across categories like fashion, footwear, accessories, jewelry, FMCG, food and grocery, cosmetics and personal care, pet care, electronics and home improvement.
Key Factors that Drove Omnichannel Retailing in India
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