E-commerce business is on a growth path and is set to achieve almost 265% growth by 2021. Experts are predicting that what was a $1.3 trillion industry in 2014 to is going to be a $4.9 trillion industry by 2021 and COVID-19 has only served to accelerate this further.
“With the huge acceleration of adoption in new channels of retail in current times, we believe there is a massive gap in understanding of relevant models of online commerce. What suits businesses best for a seamless experience to its customers either via a pure play D2C initiative, or by Omnichannel or Hyperlocal implementations, needs a careful thought and roadmap to charter the growth of brands. Having worked closely with businesses across the Indian e-commerce landscape over the past few years, GreenHonchos seems well poised to support the retail ecosystem in adopting this wave of digital transformation,” says explains Navin Joshua Founder/Director – GreenHonchos.
Keeping these positive trends in mind, IMAGES Business of Fashion, in association with GreenHonchos and Internet Commerce Summit has organised the Customer 360 Strategy, a three-part series of authoritative category-specific retail intelligence for a digitised consumer landscape.
What’s in Store
Customer 360 Strategy is a series of digital broadcasts aimed at exploring and disseminating unique intelligence on retailing in a constantly evolving consumer landscape. Themed on ‘Enabling Intelligent Retail’, the series comprises three virtual discussions, including one each on Apparel, Fashion Accessories, and Lifestyle Products, to be conducted on December 22, 2020, January 8, 2021, and January 29, 2021, respectively.
Themes for each chapter
Apparel category:CUSTOMER RETENTION A TOP PRIORITY WITH EVOLVING CONSUMER BEHAVIOUR
Both online and offline retail has evolved across all planes over the last few decades and now with COVID-19, the evolution has received an accelerated push. But the whole emphasis all across retail is on customer experience, which leads to retention. Hear the experts give an overview of the idea of customer retention with some trends to keep at bay!
Home category: ORDERS GALORE: FULFILMENT HAS EMERGED AS A COMPETITIVE DIFFERENTIATOR
The home segment has received maximum impetus for growth over the last few months, with WFH becoming the norm. However, fulfilling orders on time overcoming logistics and other on-ground challenges has made brands win customer loyalty. But the mechanism a retailer/brand put in place for order fulfilment made all difference. What’s that strategy to connect the dots at every touchpoint?
Footwear & Accessories Category: RISE OF THE MARKETPLACES MAKING BRANDS REWORK THEIR PERSONALISATION APPROACHES
Touch and buy were on a halt for the better part of this year. That phase made brands look for ways to connect better with their customers and marketplaces was one of the easiest ways to reach out to the customer base. But then, what about personalization? How are customers reacting to new experiences and how are marketers making it possible?
Talking further on the event, Anant Garg, Head of Enterprise & Strategy – GreenHonchos says, “As they say ‘Customer is the King’, and today’s consumers have expanded their reach beyond physical retail and are spread far and wide across the digital communication landscape. Thus, it becomes imperative for brands to understand this and tailor their offerings wherever their consumers are. The order winner has changed from ‘touch & feel’ to ‘value & speed’, and the biggest validation to this is the ascent of D2C brands in the last one year. Retail is at a cusp where brands need to quickly ‘adopt and adapt’, else perish. We at GreenHonchos are there to ensure that the latter is no more an option.”
This 3 chapter exclusive category-specific retail intelligence event is aiming for a stellar industry participation and waiting to build dialogues around the future trends of e-commerce and omnichannel retail.
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