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The touch & feel mode in many categories cannot be eliminated, especially before making a final decision. Therefore, retailers and brands are progressively inching towards innovation to react to the smallest buying cues left by a potential buyer.
Shopping is not an activity anymore. Itâ€™s an experience, where fashion and retail giants are trying to give a more personalized experience to each customer through services like virtual closets, merchandise tracking, direct communications, etc.
Here are three megatrends that all businesses should be aware of, as well as some tips that will help them better engage with customers and grow their businesses globally.
Online shopping portals have extensively been using predictive capabilities to gauge consumer interest in products by building a targeted understanding of preferences.
Beacon is a very helpful technology, but Indian consumer is still in a transition phase in order to become tech savvy; hence, scenario is little complex right now.
Retail analytics can do wonders by providing critical business insights and helping businesses take measured decisions in marketing management and product-market expansion strategies.
Marketing of luxury products especially online continues to be a challenge in India. Consumers are comfortable shopping for regular consumption brands, they dont want to risk experimenting with expensive products and categories online.
Like beauty care, fashion, durables and many other vertical distribution sectors, pharma e-commerce distribution is also expected to produce strong vertical players.
There are few areas which has indirectly lead to growth in E-com like development in digital payment, development of secure and platform agnostic payment gateway(UPI), demonetization, simplification of taxation, GST, infrastructural growth etc.