what is omnichannel retail?

Omnichannel RetailTrends and Best Practices

Ecommerce in India• $23 Billion projected market size by Mar 2016• $100 Billion by 2020• 500 Million internet users by 2017

Omnichannel retail

Case in point• 100 franchised stores

• Uniform Invoicing

• Standardized Store layout

• High selling products in store – rest in centralized warehouses

• Built in Manufacturing capability

Characteristics of Omni-channel Retail• Uniformity of Catalogue

• Synchronization of Inventory

• Single Customer Database

• Unified view of back-end operations

Other Examples

Online Retail - Metrics• Average Basket Size and Margins

• GM = SP – (Shipping x (1+ return ratio) + Packaging + Manpower per package) – Cost Price

• Return ratio = no. of returned shipments / no. of successful shipments

• Manpower per package = Salary x ratio of non-idle time devotedNo. of Shipments Packed

• Average SLA

Offline Retail - Metrics• Conversion Ratio = Walk-ins / No. of Invoices

• Average Ticket Size

• GM = SP-CP

• Returning visits per year

Inventory - Metrics

• Fill Rate = How many orders did I fulfill / Total orders received

• Inventory Turnover = Total Costs of Goods Sold / Inventory Value

GST Aayega!

Prepare yourself

What is it and how do we prepare• Single Unified Tax for Service as well as Goods

• CGST, SGST and IGST

• Built on India Stack – Aadhar, eSign, eKYC and IUP -> GSTN

• Simplified return management

• Increased Traceability of goods

Technology in Retail• Webstores

• Point of Sale Solutions

• Marketplace Panels

• Accounting Solutions

• Omnichannel Integrated Solutions

• CRM

How to build awareness in a crowded marketplace• SLA Commitment

• Service – that extra touch. Make the customer remember you

• Differentiate with a rich catalogue

• Loss leaders

• SEO – long term investment

Q&A