Description
O2O Crossovers
About 90% of the Indian retail market will remain offline even as it scales to $2.2 trillion in size by 2030, according to a joint report by Accel, Fireside Ventures, and market research firm Redseer.
Offline, thus presents a large opportunity for online-first businesses—and this criticality is not lost on them as they are busy raising funds for their offline expansion.
Lenskart, Mamaearth, and Nykaa are shining examples of an online-to-offline (O2O) strategy done right. Hundreds of such success stories are being written as we speak. As the convergence of online and offline retail channels continues to shape the future of commerce, we dedicate the issue to businesses that have successfully made the transition, emerging as omnichannel players, enriching retail as well as the lives of consumers offering them a shopping experience without barriers.
Ghazal and Varun Alagh of Honasa Consumer Ltd., who grace the cover of IMAGES Retail, exemplify the successful integration of online and offline strategies. Their leadership reflects findings from a recent Harvard Business Review study, which indicates that companies with a unified omnichannel approach experience 30% higher customer retention rates and a 20% increase in revenue. Honasa’s strategic expansion from a robust digital presence to physical retail spaces aligns with this research, highlighting the effectiveness of a cohesive, integrated strategy.
No discussion on offline expansion is complete without the mention of tier 1 and tier 2 cities. Karan Dhillon, Principal of the Dhillon Group, who graces the cover of the Shopping Centre News Section, is demonstrating the aspirational power of non-metros to the world by the work his company is doing with some of the world’s leading brands like Starbucks, Adidas and Decathlon among others.
The cover of the Phygital section features Maruthy Ramgandhi, Chief Technology Officer of Snitch, who throws light on how the digital-first men’s apparel brand is bridging the online-offline gap with the help of technology.
The issue has a lot of other informative and insightful content to help you navigate your business through an increasingly digital and competitive world. Happy Reading!
