Why Building Omnichannel Capabilities are Crucial for Retail Businesses
Images Retail|February 2021
In the wake of pandemic, as digitalisation accelerates and consumer buying habits constantly evolve, the need for a sound Omnichannel strategy seems more important now than ever before…

With the onset of the pandemic, consumers neededa contactless way to shop. Today, they are hopping across multiple channels, while shopping brands and retailers are compelled to ensure that they offer a consistent experience across all touchpoints. The pandemic has accelerated the need for an Omnichannel marketing strategy across all brands and retail businesses as buying habits are now constantly evolving in the wake of the need for sanitization and the importance of no touch.

In an attempt to get a 360 degree view of how to build Omnichannel capabilities, India’s first Digital Transformation Strategy Summit, PHYGITS LIVE conducted a session title, Building Omnichannel Capabilities, on January 12, 2020. The session was powered by OMUNI (Arvind Internet). It was moderated by Mukul Bafana - CEO - Omuni.

The panelists included:

Himanshu Chakrawarti – CEO, Unlimited

Namrata Chotrani – CEO, Khadims

Ranjan Sharma – CIO, Head of SCM, Captive E-commerce Business and QA, Bestseller

Omuni, powered by Arvind Internet is India’s leading Omnichannel retail enablement platform built by retail practitioners and industry insiders who understand the complexities of Omnichannel retail transformations, both technological and operational.

What Omnichannel Means For Brands & Retailers

Although Omnichannel has been a buzzword of modern retail for quite some time now, it still has the ambivalence of being open to many interpretations, stemming out of respective business requirements.

“Omnichannel can be very different for different people. For us, Omnichannel is a means of ensuring seamless customer experience across offline and online channels with regard to purchases and returns. So, whether our customers are shopping from one of our stores, through our website, or from an online marketplace, they should have a similar experience and our Omnichannel strategy helps us to ensure that. When a customer orders from our e-commerce store, our Omnichannel strategy helps us to improve customer experience in terms of time, our working capital efficiency and reduce logistics cost. At the same time, it also helps us to ensure that the exchanges and returns are as easy as buying,” explained Namrata Chotrani.

According to Himanshu Chakrawarti, Unlimited views Omnichannel from two sides – the demand and supply. “We are in the era of everyday commerce – we can’t determine where the customer should go. Especially after the pandemic, we don’t have the choice to leverage on only one format of retailing. So, on the demand side, we have to be available to fulfill customer demand wherever and whenever he wants. In the supply side in today’s integrated world, all the store networks need to be available, warehouses need to be technologically manned by modern tools and needs to include both marketplaces’ and own warehouses,” he stated.

“In the post COVID era, it is paramount for retail businesses to integrate all supply sides, including dark stores with the demand side. For us this is what our Omnichannel strategy helps us to ensure,” he added.

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