Onboard the Digital Wave
Images Retail|June 2021
The pandemic has accelerated digital transformation all across industries and retail is no different. From adaption of the right tools to changing the internal policies and working style to budget, there is a lot of consideration and over the last year and a half these transformations have been a part of every retailer’s journey. How has the industry responded to digitalisation?
Anurima Das
Digitalisation is no longer an option, and is one of the viable ways to communicate and stay in touch with the customers. Retail has seen many shifts in the past, but with the pandemic the shift to the digital domain has helped brands and retailers to stay in business. It is not just about counting the sales, but also about customer experience. Integrating the virtual space and digital codes within the CMS structure of the DNA of operations has been a new start for some. However, some where already using the digital arena as the base for their business, so for them the digitalisation process meant making their services top-notch.

When talking about the prospects and aspects of digitalisation, Manish Bansal, Director Window Magic says, “Going digital requires much contemplation and brainstorming on a retailers’ part as they have to nd ways to drive revenue and establish innovative business models once the emerging technologies are incorporated. The process of digital transformation is a 360-degree change in operations for retailers. Be it sourcing, inventory management, human resource management, or customer experience management, significant changes are required in all the departments. So, digital transformation doesn’t mean minor changes, but it is a considerable shift from a traditional setup to embracing emerging technologies for retailers. The good thing is that this transformation leads to a significant reduction in costs, enhanced efficiency, and streamlined processes. Digital transformation brings about a positive impact on retail as data analytic, location-based services, and mobile apps help customer retention and satisfaction by fulfilling customers’ requirements. In addition, the digital transformation changes the way retailers conduct their business. Therefore, the advent of digital technologies has a substantial impact on the services offered by the company and its work flow.”

Cracking the Code

Just entering the digital domain is not enough, but keeping up with the changing times and staying abreast with the new developments is also equally important. That’s why V-Mart Retail is ready to start their journey on the Amazon platform to reach out to a newer set of audience. They are also planning to launch a gaming app and focus more on influencers & bloggers and engage in barter deals with tech-based apps, partnership with organised players like banking apps, food & restaurants apps, beauty salon etc. in order to get closer to the customer, rather meet them at their leisure.

“Technology is powering the next stage of growth in retail & since lockdown, V-Mart has adopted an Omnichannel approach that factors of reaching out to the consumers and we believe that digital will play a major role in shaping the future of retail in markets where we are present. At V-Mart we have aggressively adopted digital marketing into our system. Social media presence, digital ads, performance marketing, influencer marketing, digital videos are just some ways propelling the growth. Digitalisation is and will always be a work in progress for the company. One can never be done with it. V-Mart is in the process of designing Omnichannel delivery platform. We are also designing a seamless digital platform to connect with the ‘new customer’, so that we are able to give them store like experiences online. We are incentivising the consumer and trying to connect with them more than ever,” Vineet Jain, COO, V-Mart Retail mentioned when talking about the brand’s journey towards digitalisation.

“Given the all-out digitalisation that has swept the economy, the retail industry has been no exception. And as a packaged food brand, we have also embraced digitalisation to maintain and upgrade not only our operational frameworks but also our customer connect processes. From supply chain processes to sales and distribution networks to end-customer connect channels and programmes, we have carried out an extensive digitalisation exercise in the last one year or so. However, I must add that while digital drove our business in big cities and metros, our strong of fine presence with a wide network of distribution outlets remained as functional as ever. So effectively, we had a phygital model in place,” informed Manish Aggarwal, Director, Bikano

Bikano follows a simple philosophy towards digitalisation, which not only means integrating a technological infrastructure and systems, but also gives equal importance to the human component that is invested into keeping the brand’s patrons happy and satisfied.

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