phygital stores - india's next retail revolution?
TRANSCRIPT
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Phygital Stores – India’s Next Retail Revolution?
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Traditionally, retailers had presence in the form of brick
and mortar stores or physical stores.
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Physical stores were the only channel from
which customers could purchase
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Physical stores are not always accessible –
they are not accessible on a 24x7 basis
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Also, customers run into out-of-stock situations when
they are looking for a specific product…
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Online stores, on the other hand, more often than not
claim a higher product fulfilment ratio.
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Retailers have realized that neither channel (physical of digital) offer a
well-rounded experience. Each channel has its unique strengths..
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While a physical store offers customers the reassurance
of experiencing a product prior to purchase…
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…an e-commerce portal offers free shipping and
free returns so customers can experience the
product in the comfort of their homes.
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Many leading retailers have now blended their strategy to enhance
their presence on both physical and digital channels…
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Establishing a “Phygital” presence allows retailers to
provide customers the best of both worlds
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With this model, customers have the ability to research
online and purchase offline or vice versa.
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Being truly Phygital also means providing the same
seamless experience across channels and devices.
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