“In­vest­ing in in-store tech­nol­ogy will pay off”

VMRD - - Retail Talk -

The re­cently opened Mango store in New Delhi in part­ner­ship with Myn­tra is the brand’s foot for­ward to cap­ture the fu­tur­is­tic omni-chan­nel world. The store com­bines a few ad­vanced dig­i­tal touch points like end­less aisle, dig­i­tal in­ter­faces to nar­rate ev­ery­thing start­ing from the sum­mary of the prod­ucts to pur­chase his­tory to per­son­alised rec­om­men­da­tions to as­sisted check-outs etc. VM&RD spoke to Daniel López, Ex­ec­u­tive Vice Pres­i­dent, MANGO and Ananth Narayanan, CEO of Myn­tra & Jabong to share more on the dig­i­tal shop­ping ex­pe­ri­ences they fur­ther plan to build on.

WDaniel

: Putting the con­sumer at the cen­ter, we are look­ing at a true-blue on­line-off­line merge. We are es­tab­lish­ing this phi­los­o­phy not only in In­dia but in the rest of the world. Our ef­fort is to use con­sumer data and trend most ac­cu­rately and most ef­fec­tively.

Ananth

: We plan to set up 5 stores in the first year and 25 stores even­tu­ally in next 5 years. Brands are talk­ing enough about omni-chan­nel but we plan to bring out the real sense of it. We are ex­pect­ing about 250% growth in com­ing few years.

Tell us about the store de­sign, con­sumer of­fer­ings and dig­i­tal in­no­va­tions in­side the store.

Daniel

: These two Mango stores (Kolkata and New Delhi) fol­low our lat­est con­cept – The Line, that we launched in Barcelona, Spain last year. The store de­sign uses min­i­mal de­sign and colour palette. With these stores and the forth­com­ing ones, our best ef­fort will be at al­low­ing ac­cess to Mango’s col­lec­tion all over the world at that pre­cise mo­ment when con­sumer is brows­ing through.

Ananth

ith the new al­liance, what’s the planned growth strat­egy for Mango in In­dia?

: We plan to bring dra­matic change in mod­ern re­tail. You must un­der­stand that omni-chan­nel is a con­tin­u­ous process. There­fore, tech in­no­va­tions in Mango stores are slated to take place in phases. In the first phase, we are in­tro­duc­ing end­less aisle, in­te­grated and in­frared data tech­nol­ogy (con­sumer data for our un­der­stand­ing on shop­per be­hav­ior etc). Phase two will be built to of­fer seam­less de­liv­er­ies. In Jan­uary next year, we plan to launch ex­clu­sive on­line store for the brand.

With such fo­cus on omni-chan­nel, what kind of sale are you ex­pect­ing from both the chan­nels?

Daniel

: We are build­ing the off­line ex­pe­ri­ence for a ro­bust brand re­call. At the same time, off­line is cru­cial to in­ter­act with the con­sumers. I think that on­line will see a dou­ble digit growth in years to come.

Ananth:

I think that both the chan­nels will con­trib­ute equal amount of busi­ness in a few years in In­dia.

Will only In­dian met­ros be wit­ness­ing the dig­i­tal in­no­va­tions?

Ananth

: It’s true that the bunch of ini­tial stores will be set up in In­dian met­ros, with Mum­bai be­ing the next. How­ever, what’s in­ter­est­ing for us is the con­sumer data. We plan to do data-driven scout­ing for lo­ca­tions ex­ten­sively to coin our re­tail scal­ing.

What, ac­cord­ing to you, is the fu­ture of omni chan­nel?

Daniel

Daniel López, Ex­ec­u­tive Vice Pres­i­dent, MANGO & Ananth Narayanan CEO of Myn­tra & Jabong

: 50 years back, there was no touch-and-feel in re­tail and in 90s there was a revolution in mod­ern re­tail where con­sumers can touch and feel the prod­uct. We are sit­ting in 2017 and we must take it way for­ward with enough amount of tech­no­log­i­cal ad­vance­ments in our hand. That, to me, should be the power of om­nichan­nel.

Ananth

: The re­sult of pow­er­ful om­nichan­nel should be bring­ing more num­bers of cus­tomers back and it should be so seam­less that they can barely differentiate be­tween both the chan­nels. Also, at the back end, I think the best omni-chan­nel strate­gies should of­fer us the least num­bers of times we move a mer­chan­dise to send it to our con­sumers.

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