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.
Turning the Table
Continue reading your story on the app
Continue reading your story in the magazine
Destination Korea – In just a click!
Korikart brings in a flavour of Korea right to our doorstep. This marketplace brings multiple Korean favourites, all at one place. Brands like The Saem, Plan 36.5, Jin Ramen, Mustaev, The Face Shop, Innisfree, Etude House and many more are just a click away on Korikart. Korikart has certainly gained many followers since inception, but how does the brand continue to carry on the excitement with new additions and its impeccable services. Here’s unraveling their story!
In this exclusive interaction with IMAGES Retail, Lalit Agarwal, Chairman & Managing Director of V-Mart Retail Ltd talks about the recovery from pandemic losses and the future of omnichannel retail. Excerpts:
ADIDAS ENDS ITS 15 YEAR SAGA WITH REEBOK, SELLS OFF THE BRAND TO ABG
German sports giant, Adidas has made it official that it has entered into a definitive agreement to sell Reebok to Authentic Brands Group (ABG) for a total consideration of up to € 2.1 billion, with the majority to be paid in cash at closing of the transaction and the remainder comprised of deferred and contingent consideration.
KEARNEY PREDICTS INDIAN E-COMMERCE DOMAIN TO HIT $40 BILLION MARK BY 2030
The e-commerce sector is emerging in a big way in India and keeping in mind the boom and the growth of this sector, the global consulting rm Kearney came up with a report titled “Value e-commerce: The Next Big Leap’s Indian Market” highlighting the growth story of the e-commerce industry in India. As per the report and its findings, India will soon represent an e-commerce market valuing US $40 Billion. This growth comes with the growing consciousness towards value.
Superplum, a start-up backed by some of Silicon Valley’s most notable investors, is addressing Indian agriculture’s issues by building the country’s most sophisticated supply chain for fruits and fresh produce in the country. The company is bridging the gap between the farms and consumers by digitizing the fresh fruit industry.
Shopping Malls: Building A Social Connect
COVID has accelerated technology transformations in retail, but that’s not all. The pandemic has changed the facets of retail across segments, markets, channels and shopping malls too. Today malls are no more just a place to shop, but they have turned into ‘social spaces’.
SOUTH KOREA E-COMMERCE MARKETPLACE TO SURPASS $242.2 BILLION: GLOBALDATA
As the e-commerce trends continue to improve worldwide ahead of the pandemic. The Global Data reports stated that South Korea’s e-commerce market ranked among the top e-commerce marketplaces.
Surviving The PandemicLessons Learned In Online Retail
To understand the challenges and new lessons, roadmaps and constraints related to transformed e-commerce and Omnichannel retail, this session of the ‘Omnicomm Intelligence Series’, discussed the necessary changes and themes basis a roundtable session. The fourth episode revolved around a discussion on the topic ‘Surviving The Pandemic-Lessons Learned In Online Retail’.
Warehouse Leasing to Touch 100 Mn sq.ft. Over the Next Three Years; E-Commerce and Third-Party Logistics to Drive Growth: CBRE
Against the backdrop of robust growth of manufacturing, e-commerce, and third-party logistics (3PL) sectors, the report highlights how Industrial and Warehousing (I&W) activity has gained momentum over the past few years in India
Customer Loyalty in Retail: Technology Trends
Customer loyalty has now become a very hard thing to get for any retailer as customers these days have an abundance of options to choose from when shopping in the highly competitive retail market. Global Data Thematic Research highlights the key technology trends impacting the customer loyalty theme.
Apple Won't Let Fortnite Back Until Case Ends
Tim Sweeney, CEO of Fortnite maker Epic Games Inc., said Wednesday it’s been told by Apple that the game will be “blacklisted from the Apple ecosystem” until the companies’ legal case is resolved and all appeals are exhausted, which could take as long as five years.
CALIFORNIA 1ST TO SET QUOTA LIMITS FOR RETAILERS LIKE AMAZON
California became the first state to bar megaretailers from firing warehouse workers for missing quotas that interfere with bathroom and rest breaks under a new law signed by Gov. Gavin Newsom that grew from Amazon’s drive to speed goods to consumers more quickly.
FACEBOOK OVERSIGHT BOARD REVIEWING ‘XCHECK' SYSTEM FOR VIPS
Facebook’s semi-independent oversight board says it will review the company’s “XCheck,” or cross check, system following an investigation by The Wall Street Journal into the use of this internal system that has exempted high-profile users from some or all of its rules.
CHINA'S ANT GROUP TO SHARE CREDIT DATA WITH CENTRAL BANK
China’s central bank will soon have access to the private credit information of hundreds of millions of users of Ant Group’s online credit service, in a move signaling more regulatory oversight of the financial technology sector.
NETFLIX BUYS WONKA AUTHOR DAHL'S CATALOG
Netflix has acquired the works of Roald Dahl, the late British author of celebrated children’s books such as “Charlie and the Chocolate Factory.”
APPLE, GOOGLE RAISE NEW CONCERNS BY YANKING RUSSIAN APP
Big Tech companies that operate around the globe have long promised to obey local laws and to protect civil rights while doing business.
CHINA SETS UP PLATFORM TO POLICE GAMING FIRM VIOLATIONS
Chinese regulators have set up a platform that allows the public to report on gaming companies they believe are violating restrictions on online game times for children.
ONE TO CHARGE THEM ALL: EU DEMANDS SINGLE PLUG FOR PHONES
The European Union unveiled plans Thursday to require smartphone makers to adopt a single charging method for mobile devices.
DON'T LET SOCIAL SECURITY STEER YOU WRONG
Few retirement decisions are as critical, or as easy to get wrong, as when and how to take your Social Security benefits.
AT LONG LAST, BALLMER, CLIPPERS BREAK GROUND ON NEW HOME
The design meetings have been going on for years.