In the rapidly evolving world of retail, the integration of online and offline channels, known as omni-channel retail, is becoming increasingly important. This was the central theme of a recent talk given by Saurabh Agrawal, Senior Vice President at Lenskart, at MachineCon India 2023.
The Omni-Channel Retail Landscape
Agrawal began his talk by outlining the blurred lines between online and offline retail. The consumer purchasing cycle starts with learning and getting inspiration, which often happens online. The actual shopping can take place in-store, on mobile apps, websites, or social media. Finally, the purchase is made at the most convenient place for the consumer.
While online retail has many advantages, such as ease of discovery, pricing, delivery experience, and returns, offline retail still scores higher in two categories: the ability to try and touch products and getting personalized assistance.
