Phygital – hype or happening?
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.