Indian consumers today are rapidly adopting the omnichannel way of shopping, according to a retail survey from PwC.
The survey shows that that the value conscious Indian shopper believes that price is just a part of the larger value story. Convenience offered by the retailer also plays a major role in determining value.
Thus, Indians buy online primarily because of convenience (65%), followed by price (31%). Online, product categories like furniture, grocery and jewelry are finding more takers. Offline, shoppers are demanding a service-focussed in-store experience and want to interact with a knowledgeable store employee.
PwC said the stakes have definitely been pushed higher for both retailers and consumer goods companies.
“Multichannel retailing has been helping India’s consumption story and increasing the share of organized retail in the total retail pie,” PwC India leader of retail and consumer goods Anurag Mathur said.
In the present scenario, omnichannel agenda coupled with the pressures of delivering superior customer experience and in the face of aggressive competition will put the onus on developing an operating model which is strategically aligned to business goals.”