Hybrid behaviour
Today, customers are looking for convenience. As they look at a more seamless omnichannel experience, phygital (physical and digital) has emerged as an essential part of customers’ shopping experience and this integration is likely to grow further.
One-stop shop
Customers seek a complete spectrum of solutions such as payment options, credit facility, insurance, logistics and delivery choices, etc. under one roof. This has led to retailers engaging ecosystem players which facilitate the entire chain of services.
Value consciousness
Indian customers are extremely price sensitive and constantly look at sharper pricing, exciting offers and discounts. Retailers are constantly exploring options to reduce cost to serve and automate to ensure profitability.
Instant gratification
These days, customers want ultrafast deliveries and are unwilling to wait for hours to have their products delivered. Capabilities for faster deliveries with more than 99% on-time in-full delivery, artificial intelligence (AI)-based demand forecast, Internet of Things for real-time monitoring are some of the key levers that retailers are working on.
Retailtainment
Customers today are looking at value-added shopping experiences with virtual fitting rooms, 3D modelling and augmented reality to help visualise products online along with conversational AI for a personalised experience. Retailers need to be geared up to provide this immersive customer experience.