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Decoding Digital @ Retail Winning the Omnichannel Consumer

Gain insights into the behavior of digital consumers and understand the impact of e-commerce on retail. Learn how to leverage data to navigate the digital tsunami and reimagine your business for the new reality.

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Decoding Digital @ Retail Winning the Omnichannel Consumer

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  1. Decoding Digital @ Retail Winning the Omnichannel Consumer Amitabh Mall, 10 February 2016

  2. Many questions, very little data Who is the digital consumer? WHAT ARE THEY BUYING ONLINE? How big will this phenomenonbe? WHAT ARE THEY BUYING ONLINE? What are they doing online? How big will this phenomenon be? How will it make money? What are they doing online? Why are they buying online?

  3. In God we believe, everyone else please bring data Our attempt: bring data to help understand the new reality

  4. There is a digital tsunami headed our way 2020 2015 2010 650mn 260mn 170mn

  5. E-commerce will be big... ... digital influence will be enormous 240-250 USD Billion E-commerce spend 50-60 45-50 Digitally influenced spend 8-12 3-4 0.3 2010 2015 2020 E-commerce buyers 5-7 90-95 200-250 Digitally influenced buyers 65-70 150-160 350-400

  6. One size does not fit all Consumer durables 12–14% Travel >60% Staples<1% Sexualwellness7–9% Health5–7% Electronics 25–30% Online share by 2020 (%) Jewelry, Fragrances 8–10% Branded packaged goods 4–5% Home 8–10% Baby care6–8% Apparel and footwear 10–12% Development Growth Shake out Maturity Time

  7. The digital consumer is morphing From (2015) To (2020) Older 1/5 users above 35 years 1/3 users above 35 years More Rural 1/3 users from rural India 1/2 users from rural India Women accounting for 29% of urban users Women accounting for 40% of urban users More women

  8. Why are they buying online? Reasons for shopping online and percentage of consumers opting for them Provides products unavailable in the city 11% 10% More comfortable Allowscustomization Isconvenient Helps to make informed decisions 23% 6% 4% 4% 13% Has the option of home delivery Has more options 41% 7% 8% Gives detailed informationonline Offers highest discounts Offer fixed price 17% No interaction with salesmen needed 9% 7% No one sees me Enter-taining

  9. Will physical stores become irrelevant? Key drivers for shopping in physical stores for different categories HABIT (Always buy from store/agents) 42% 44% 37% 38% PHYSICALITY (Need to touch&feel)  34% 35% 36% 30% VALIDATION (Need to check features) 19% 19% 13% 0% RISK (Big ticket purchase)  17% 15% 0% 15% Appliances AVAILABILITY (Not available online) Electronics 15% 15% Cosmetics 17% Nutrition

  10. Re-imagining your business in the new reality Brick & Mortar E-commerce Enhance consumer stickiness by investing in drivers beyond price 01 01 Over invest in digital influence Build next generation CLM/ consumer engagement capabilities 02 02 Build clear aspiration and roadmap for a profitable e–commerce business Leverage big data 03 03 Invest in non–price drivers to build brand loyalty Experience offline, sell online 04 Reimagine the role of physical stores to cater to the omnichannel consumer 04 Invest in supply chain capabilities 05 05 Digitize your business

  11. Thank you bcg.com | bcgperspectives.com

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