Kumar Rajgopalan : Indian Retail in a multi-channel world
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Transcript of Kumar Rajgopalan : Indian Retail in a multi-channel world
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Indian Retail in a multi-channel world
Feb 27 2014
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21st Century
Consumer
“Share-of-Watch leads to share of wallet”
The consumer is changing…..
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Convenience Plays.
The consumer is changing….. RAI – PWC survey on “Total Retail” , Feb 2014N = 1000
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The consumer is changing…..
Not just price. Range. “Endless Aisle”
RAI – PWC survey on “Total Retail” , Feb 2014N = 1000
47% of customers spoke about range as the main
reason to buy online. 51% mentioned price.
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Retailers State of MindRetailers State of Mind
Source: Retail Operations Benchmarking Excellence Study, ROBES, 2014, RAI-TCS study
Multi-channel and customer experience are key 2014 priorities.
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Brick and mortar retailers have found that their online cash memo size is 12% higher than in-store.
Source: Retail Operations Benchmarking Excellence Study, ROBES, 2014, RAI-TCS study
Ecommerce channels (non-store channel ) of brick and mortar retailers. Higher growth, higher cash memo size, lower returns.
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Online returns of Brick and mortar retailers are <3% - significantly lower than pure-play Etailers.
Source: Retail Operations Benchmarking Excellence Study, ROBES, 2014, RAI-TCS study
Ecommerce channels (non-store channel ) of brick and mortar retailers. Higher growth, higher cash memo size, lower returns.
Harvesting benefits
from “TRUST”
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Environmental triggers for Retail 3.0
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Coping with a multi channel world
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How do retailers cope with “Showrooming”?
• By accepting it as a fact of life. • There will be customers of the
market places who come to us for the service experience.
• We have found “Click and Collect” to be a viable solution.
Duncan Grant, Multichannel Director,
The Entertainer
We need to ask “What can I do that others can’t?”
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Learnings from the UK Market.
Four facts about the UK market in terms of market maturity:
1. Every UK resident has a bank account
2. 76% of UK residents have smart phones
3. All families have a tablet
4. The courier / postal system covers most of UK.
In spite of that online sales at a market level is at 10%.
Online sales in the UK = £ 7 bn.
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Things to think about : Purchase process
“Found it. Can you pay for it…?”
Multi channel can deliver new purchase paradigms.
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Summary
Build on Trust. Create “Endless Aisles”
Increase “Share of watch”
Plan for Retail 3.0
Range / Quick Check-out of online PLUS Instant gratification of Brick and Mortar.
Puchaser Payor User
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© Retailers Association of India
India retail snapshot Feb. 2014
“Build for Value, not Valuation” –
Kishore Biyani @ the Retail
Leadership Summit, Feb
2014.
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Indian Retail in a multi-channel world
Feb 27 2014