MxMIndia

Tag: Kumar Rajagopalan

  • From choosing between channels to being channel agnostic, Indian consumers today are moving with pace towards the omnichannel way of life

    Indian consumers moving towards omnichannel way of shopping: PwC

    By A Correspondent

     

    PwC’s annual global total retail survey 2016 has tracked consumer behaviour across retail channels, bringing to light the changes brought about by multichannel retailing. From choosing between channels to being channel agnostic, Indian consumers today are moving with pace towards the omnichannel way of life.

     

    According to PwC’s latest total retail survey, the value conscious Indian shopper believes that price is just a part of the larger value story. Convenience offered by the retailer also plays a major role in determining value. Consequently, our survey data shows that Indians buy online primarily because of convenience (65 per cent), followed by price (31 per cent). Unconventional product categories like furniture, grocery and jewellery are finding takers through the online channel. Further, shoppers are demanding a service-focussed in-store experience and want to interact with a knowledgeable store employee.

     

    These findings are part of the PwC report ‘Building retail businesses for tomorrow today’ that gives insights into the changing buying behaviour of consumer across retail channels. Indian shoppers are redefining what it means to shop in today’s information-driven environment. The stakes have definitely been pushed higher for both retailers and consumer goods companies. This report was launched at the Retail Leadership Summit 2016 organised by the Retailer’s Association of India.

     

    This year, the report looks at how consumer shopping trends, which have been percolating over the past few years, are now putting the onus on developing a retail operating model which is strategically aligned to business goals.

     

    Anurag Mathur, Leader, Retail and Consumer Goods Practice, PwC India said, “Unlike global trends, digital transformation has become a means to overcome infrastructural difficulties in a developing country like India. Multichannel retailing has been helping India’s consumption story and increasing the share of organised retail in the total retail pie. In the present scenario, omnichannel agenda coupled with the pressures of delivering superior customer experience and in the face of aggressive competition will put the onus on developing an operating model which is strategically aligned to business goals.”

     

    Kumar Rajagopalan, CEO, Retailers Association of India said, “The age of smart technologies is creating the capabilities for enterprises to function in a connected world. This connected world is capable of seamless processes across front-end as well as back-end of retail enterprises. RAI – PwC report on Building retail businesses for tomorrow today discusses how businesses can build an India-focussed operating model based on improving efficiency and customer experience. It also delves into innovation in retail. This report is a must-have for every business that is involved with the retail industry, irrespective of whether it is engaged in core retail or is a service provider to retail industry. We thank the PwC team for their efforts and insights.”

     

     

  • The survey received 1,368 responses from 86 Indian cities and towns

    Hansa Cequity’s omni-channel shopper study throws up interesting findings

    By A Correspondent

     

    Customer marketing company Hansa Cequity released its first omni-channel shopper study to understand customer behaviour and how India shops. The survey received 1,368 responses from 86 Indian cities and towns.

     

    The report, launched in association with the Retailers Association of India (RAI) during the ‘Cequity Conclave: Data Driven CMO’, revealed that with increased choices, higher disposable incomes and exposure to global shopping formats, the Indian shopper is changing. The findings highlight in detail why data will drive the decisions of the future CMOs.

     

    According to the study, 74 per cent respondents’ exhibit omni-channel behaviour (they have shopped in all formats -local retailer, large department and online). The research further reveals that around 40 per cent of the urban Indian shoppers’ shop regularly using modern trade, the numbers have more than doubled as compared to 2012.

     

    The study also revealed that the level of penetration of omni-channel behaviour in the next multi-billion Rupee markets – small towns – is sluggish. However, optimistic signals with some retailers already taking measures to address this latent need of shoppers both by trying to extend the omni-channel experience and by increasing service levels was also observed.

     

    Commenting on the report Ajay Kelkar, Co-founder and COO, Hansa Cequity said, “The Indian shopper has changed. She is as comfortable haggling with the local vegetable seller as much as she is tapping open apps on her smartphone to scour ecommerce stores for the best deals. As consumers embrace new technologies, the shopping experience has become increasingly sophisticated, enabling new ways for leading retailers to reach their audience. By integrating and aligning channels – stores, e-stores, mobile apps and social media – omni-channel retailing provides a flexible and seamless shopping experience to customers.”

     

    “With multi-channel shopping interfaces: physical stores, malls, e-commerce platforms, social-enabled shopping experiences, and smartphone app based services consumers have so many ways to discover and buy the things they want to. Our first omni-channel retail study has been aimed at understanding the customer behaviour and tries to capture in the way Indians shop,” said S Swaminathan, Co-founder and CEO, Hansa Cequity.

     

    Kumar Rajagopalan, Chief Executive Officer, Retailers Association of India added, “RAI is the unified voice of retailers in India and works towards continuous updating of modern retail trade practices in the country. We recognise that today’s customers have multiple channel options to buy and this report reemphasised the need for retailers to adopt an omni-channel approach to interacting with consumers. A nation of shopkeepers, India has been on the high-growth trajectory, and retail in India has seen generational shifts as it modernises and shifts gears. We are glad to be associated with the first research report on the omni-channel retail in India.”