Omni-channel strategy to drive retail market growth in India

MUMBAI: The retail market in India will primarily be driven by omni-channel as brick-and-mortar retailers enter e-commerce to support their stores.

"Omnichannel retailing is the way to go in India. All retailers have a big market, nevertheless organized retailers will have to find local relevance," said JK Dadoo, Additional Secretary, Ministry of Commerce & Industries at Trends in Retail Summit 2015 organized by ET Edge, an Economic Times initiative.

With the changing trends, the retail market will see more interest by investors even as the Indian government is keen to allow FDI in B2B e-commerce.

Experts feel that a host of factors, both human and technological, will strive shopping experience.

"Shopping is an occasion which needs to be cherished and is a combination of mobile, social and human connection. Today consumers are in control of the shopping experience," said Abheek Singhi, Sr. Partner and Director, The Boston Consulting Group (BCG).

Given the recent boom in the sector, e-commerce is capturing a bulk of retail sales, however, brick-and-mortar stores will never go out of fashion. "The four D's that count at present are Demographics, Disruption, Digital and Data Analytics. Living in the generation of millennials, mobile and social commerce will shape the future of shopping," Govind Shrikhande, MD & VC of Shoppers Stop said.