Digital strategies for Indian apparel brands
Transcript of Digital strategies for Indian apparel brands
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The age of digital consumption.
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With half our population under 25, India is a young country and these millennial will change the way we consume. Let’s hear from them.
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Our world meshes seamlessly across the physical and digital spaces.
Nielsen says the millennial spend over half their waking hours online.
Internet access is already mobile first.
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We live in the brick and click world.
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Doing real world tasks online saves tome and we connect and consume 24 x 7.
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Our digital marketplace allow consumption of content, product and services all under one roof.
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We form 60 percent of the internet user base and our connectivity will not dip with onset of career and family.
How will we achieve this?
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Well some things will just fall in place.
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While for the rest, the environment will evolve.
It’s ok to take a 10 minute break to order the shoes I liked,
or keep in touch and be heard in real time.
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Workplace etiquettes are evolving on an open architecture.
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As consumers, we will gravitate towards brands that can service us a time and place of our choosing.
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We broadly fall into two groups, those with physical access and those without.
Our choice to shop on or offline is based on convenience.
We shop online for the convenience of access.
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Together we will change consumption patterns from touch and feel to convenience.
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We are the tomorrows consumers and will account for 80 percent of consumption, within the next seven years.
40 percent of our total spend will be online. From paying bills, to ordering groceries, booking tickets to shopping, everything that saves time, will be done online.
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Are you ready for the age of digital consumption?
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Give any millennial Rs. 1,000 today and chances are they will spend it online.
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Brands need to look beyond the current B 2 B channels,
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and focus on the consumer seeking omni channel experience. Order from anywhere to deliver anywhere.
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Are brands hiring talent with the right skill sets?
This shift from brick, to brick and click requires a paradigm shift in mindset. Structures and processes need to evolve.
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Digital channels gives a brand absolute reach to its consumers.
Demand gets fragmented beyond tier 4 cities.
You can’t open an outlet for 10 customers, but all 10 can be serviced online.
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Each channel has a unique channel cost, the difference between the shelf price and the brands selling price to the channel.
Brand R
etail
Multi B
rand
Franch
ise
Digital
B2B
Digital
B2C
0%
10%
20%
30%
40%
Channel Cost
Channel Cost
Channel cost for brand retail is the occupancy and operational costs.
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Today online sales are under 2% of total retail.
89.0%
9.5%
1.5%
Retail Market 2015
Unorganized 89%Organized 9,5%Online 1.5%
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In a decade India will be a $ 3.5 trillion economy and digital commerce will be a $ 400 billion marketplace.
67%
21%
12%
Retail Market 2025
Unorganized 67%Organized 21%Online 12%
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Digital consumption is here to stay.
Consumer •Consumption is about convenience. •Access to anytime, anywhere consumption.
Environment •Proliferation of mobile devices and broadband.•An evolving marketplace.•An evolving workspace.
Brands •Need to move from brick to brick and click mindset.•24 x 7 connect with its consumers.•Offers consumers omni channel experience.
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Digital strategies are about identifying, acquiring, engaging and servicing your consumers online.
Identify Acquire Engage Service
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Digital marketing is about identifying, acquiring and engaging consumers online.
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Robust and holistic digital strategies will deliver growth.
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Digital supply chains service online consumption.
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Brands need robust digital supply chains to meet customer expectations. Anywhere delivery in 1 to 3 days.
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Brands need sound digital strategies built around infrastructural weaknesses and challenges.
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Thank You
Arun DhawanSpectra International