Phy­gi­tal – hype or hap­pen­ing?

VMRD - - Contents - Vas­ant Jante Ed­i­tor & Pub­lisher

We live in an age of jar­gons. Every once in a while we are con­founded by a new term or jar­gon that soon goes ‘vi­ral’ and in­evitably be­comes part of our so­cial and busi­ness lex­i­con. I some­times won­der at what pre­cise point of time do these terms take shape? Does some young cre­ative geek in an ‘aha’ mo­ment get a rev­o­lu­tion­ary idea, which then qui­etly slips into the col­lec­tive con­scious­ness? Or is it the re­sult of a sys­tem­atic or­ga­ni­za­tional ef­fort to mar­ket an idea or con­cept? I sup­pose it’s dif­fi­cult to tell. But it does bring me to this new buzz­word cur­rently gain­ing cur­rency – ‘phy­gi­tal’.

I don’t re­mem­ber when I first heard of the term ‘Phy­gi­tal’. All I know is that it has sud­denly tran­si­tioned from be­ing a mere buzz­word to a near-ne­ces­sity in the con­text of brand mar­ket­ing. When you think about it, it does seem like the nat­u­ral pro­gres­sion of things and there’s noth­ing sur­pris­ing there. Af­ter all, dig­i­tal is an in­te­gral part of al­most all as­pects of our life to­day. So when it comes to the busi­ness of buy­ing and sell­ing, com­bin­ing the dig­i­tal and the phys­i­cal is a given. So while the scep­tic in me might be tempted to look at it as an­other re­sult of mar­ket­ing hype, the re­al­ist in me also re­al­izes that it is the way for­ward. For brand mar­keters phy­gi­tal of­fers ex­cit­ing new op­por­tu­ni­ties to en­gage their cus­tomers in a way that com­bines ef­fi­ciency with im­pact. But get­ting it right also means hav­ing the right eco-sys­tem in place with all the stake­hold­ers on the same page– the brand, the re­tailer, the tech­nol­ogy so­lu­tion/ser­vice provider etc. So while only time will tell whether phy­gi­tal is ac­tu­ally out there hap­pen­ing in the real sense of the word, there are al­ready some re­tail brands and tech so­lu­tion providers lev­er­ag­ing the idea. In this is­sue of the mag­a­zine, we have spo­ken to two of them -- Manohar Ka­math, CXO & Head, Myn­tra Fash­ion Brands, and Ra­jiv Prakash, Founder, Next In - Growth Part­ners to En­trepreneurs, to get some per­spec­tives on this. Do read what they have to say about how phy­gi­tal can make the right dif­fer­ence in en­hanc­ing your cus­tomer ex­pe­ri­ence. And do watch this space, as we con­tinue to bring you more per­spec­tives on the phy­gi­tal dy­nam­ics.

Mean­while, we also have other in­ter­est­ing sto­ries for you – from why some brands have got it so right with their store fa­cades to in­no­va­tive trial room trends across the world, and lots more of course from the world of store de­sign, VM and re­tail trends...don’t miss them!

And now let me wish you a Merry Christ­mas and a fab­u­lous New Year in ad­vance! May you have a mem­o­rable year-end with lovely mem­o­ries to take for­ward to the next year.

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