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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