After a successful stint online, e-commerce companies in India are now venturing into a world they thought they would drive into extinction: the brick and mortar space. Lenskart (online eyewear shop), Zivame (lingerie e-commerce player), and Pepperfry (online furniture company) are among the players to have opened a physical store in India, a country where e-commerce spend is still less than 2% of total retail spending, according to a study by Deloitte.
This is at a time when every industry is trying to make its presence felt online. And e-tailers certainly enjoy some clear strengths. For instance, a web store is always up and available, its reach unlimited by geography. However, online firms have found it hard to grow beyond a certain number in terms of customer acquisition, which is making it more and more necessary to have a brick-and-mortar store along with online presence.
A physical store is a great brand building exercise since it has high recall value for a customer. “The brand experience that one gets in a store is incomparable as there is a touch and feel element to it. Also, stores are a good place to bring on board a customer who has never shopped online,” says Ankur Bisen, senior vice president at Technopak, a management consulting firm.
Source:-Forbes
This is at a time when every industry is trying to make its presence felt online. And e-tailers certainly enjoy some clear strengths. For instance, a web store is always up and available, its reach unlimited by geography. However, online firms have found it hard to grow beyond a certain number in terms of customer acquisition, which is making it more and more necessary to have a brick-and-mortar store along with online presence.
A physical store is a great brand building exercise since it has high recall value for a customer. “The brand experience that one gets in a store is incomparable as there is a touch and feel element to it. Also, stores are a good place to bring on board a customer who has never shopped online,” says Ankur Bisen, senior vice president at Technopak, a management consulting firm.
Source:-Forbes
