Click. Brick. And All That’s In-between
“I want us to stop talking about digital and physical retail as if they’re two separate things. The customer doesn’t think of it that way, and we can’t either”, said Doug McMillon, CEO, Walmart. This quote is fast shaping the world of retail. According to a recent report in 2017 compiled by Retailers Association of India and digital marketing agency ValueFirst report, the size of modern retail in India is expected to double from $13 billion to $25.7 billion in three years which is driven by omni-channel retail. As the most interesting development of omni-channel retail in recent years, the brands who foresaw success in swipes and clicks are being found hobnobbing with brick-and-mortar retailers.
The Lure Of Brick N Mortar
Brands dealing in speciality merchandise segments like Zivame, Lenskart, Caratlane, Nykaa, Urban Ladder have already revealed their plans to build strong brick-andmortar network. Lingerie brand Zivame and jewellery brand Caratlane plans to open 20 more stores each by next year, while leading eyewear brand Lenskart has revealed its plan to open 200 stores focusing on mini metros and small towns and beauty and cosmetics player Nykaa is looking to have 30 stores by next year.
Online clothing brands like Faballey and Vajor are fast becoming parts of the league. Vajor plans to open two stores in Delhi this year while scaling up their store counts in next 6-9 months. Faballey, with 50 SISs with Future Group’s large format stores, has recently opened an EBO. The brand has revealed its planned investment for offline expansion is to be over 1 million USD, with the estimated offline revenue share going up to 30% of the company’s total revenue by the end of FY19. “Indiscriminate expansion is not on the cards as our offline strategy is focused on being profitable at every door we operate,”
FabAlley, James, Shivani Poddar, Co-CEO of
Opening its first flagship store in July this year in Bangalore, furniture retailer Urban Ladder disclosed that it will invest 10-15 million USD in physical retail over the next 12-18 months. Disclosing more on the same,
Director Pradeep of Design,