{"id":15067,"date":"2023-07-17T06:47:39","date_gmt":"2023-07-17T06:47:39","guid":{"rendered":"https:\/\/www.vasyerp.com\/the-retail-guru\/?p=15067"},"modified":"2025-10-28T11:54:45","modified_gmt":"2025-10-28T06:24:45","slug":"what-is-omnichannel-retail-strategy","status":"publish","type":"post","link":"https:\/\/vasyerp.com\/the-retail-guru\/what-is-omnichannel-retail-strategy","title":{"rendered":"The Future of Indian Retail: What is an Omni Channel and How Omnichannel Retail Brands Are Conquering the Market?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_76 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/vasyerp.com\/the-retail-guru\/what-is-omnichannel-retail-strategy\/#What_is_an_Omnichannel_Retail_Strategy\" >What is an Omnichannel Retail Strategy?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/vasyerp.com\/the-retail-guru\/what-is-omnichannel-retail-strategy\/#Key_reasons_why_retailers_must_prioritize_the_adoption_of_omnichannel_retail_strategies_in_2023\" >Key reasons why retailers must prioritize the adoption of omnichannel retail strategies in 2023:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/vasyerp.com\/the-retail-guru\/what-is-omnichannel-retail-strategy\/#Efficient_Inventory_Management\" >Efficient Inventory Management<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/vasyerp.com\/the-retail-guru\/what-is-omnichannel-retail-strategy\/#Improved_Data_Optimization\" >Improved Data Optimization<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/vasyerp.com\/the-retail-guru\/what-is-omnichannel-retail-strategy\/#Cost-Efficient_Marketing\" >Cost-Efficient Marketing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/vasyerp.com\/the-retail-guru\/what-is-omnichannel-retail-strategy\/#Final_Take\" >Final Take<\/a><\/li><\/ul><\/nav><\/div>\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"How Omni Channel Retail Brands Are Conquering the Market - The Retail Guru #myntra #pepperfry\" width=\"1170\" height=\"658\" data-src=\"https:\/\/www.youtube.com\/embed\/dJ3RKDQriSE?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" data-load-mode=\"1\"><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>By 2026, eCommerce will account for&nbsp;<a href=\"https:\/\/www.insiderintelligence.com\/content\/worldwide-ecommerce-forecast-update-2022\" target=\"_blank\" rel=\"noreferrer noopener\">24%<\/a>&nbsp;of all global retail sales. Where customers go, retailers must follow. That means merging your brand\u2019s physical and digital storefronts has never been more important.<\/p>\n\n\n\n<p>According to consulting firm Mckinsey&amp; Company\u2019s chief retail analyst&nbsp;Eric Hazan,&nbsp;the world is entering an era of&nbsp;<a href=\"https:\/\/www.mckinsey.com\/capabilities\/growth-marketing-and-sales\/our-insights\/omnichannel-shopping-in-2030\" target=\"_blank\" rel=\"noreferrer noopener\">\u201cphygital retail.\u201d<\/a>&nbsp;The term \u201cphygital\u201d is a combination of the words \u201cphysical\u201d and \u201cdigital.\u201d<\/p>\n\n\n\n<p>This new world of retail will be dominated by brands that can connect their physical and digital presence to engage &amp; attract customers. So, how can small-scale retail firms undergo this \u201cphygital\u201d transformation? By adopting an omnichannel retail strategy. Here\u2019s why.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_an_Omnichannel_Retail_Strategy\"><\/span>What is an Omnichannel Retail Strategy?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1160\" height=\"500\" src=\"https:\/\/www.vasyerp.com\/the-retail-guru\/wp-content\/uploads\/2023\/07\/2nd-Image-1.jpg\" alt=\"what is omnichannel retail strategy\" class=\"wp-image-15400\" title=\"\"><\/figure>\n\n\n\n<p>An omnichannel retail strategy is a business strategy where retailers engage their target customers through several digital and physical touchpoints. This retail strategy was developed in response to the new demands of modern-day shoppers.<\/p>\n\n\n\n<p>New-age consumers have varied shopping preferences. They shop from both traditional brick-and-mortar stores &amp;eCommerce websites. Adopting an omnichannel retail strategy means providing convenient &amp; personalised shopping experiences to these new-age consumers across both physical &amp; digital platforms.<\/p>\n\n\n\n<p>Adopting an omnichannel retail strategy\u00a0can enable retailers to protect their brands &amp; retain customer loyalty in a world of fast-changing customer expectations. But, that\u2019s not the only benefit of adopting this flexible channel strategy.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Key_reasons_why_retailers_must_prioritize_the_adoption_of_omnichannel_retail_strategies_in_2023\"><\/span>Key reasons why retailers must prioritize the adoption of omnichannel retail strategies in 2023:<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"1160\" height=\"500\" data-src=\"https:\/\/www.vasyerp.com\/the-retail-guru\/wp-content\/uploads\/2023\/07\/3rd-Image.jpg\" alt=\"omnichannel strategies\" class=\"wp-image-15401 lazyload\" title=\"\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1160px; --smush-placeholder-aspect-ratio: 1160\/500;\"><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Efficient_Inventory_Management\"><\/span>Efficient Inventory Management<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>By being equally present in multiple channels, brands can funnel their products based on customer demand. Take Myntra as an example. The online fashion marketplace is visited by over&nbsp;<a href=\"https:\/\/www.statista.com\/statistics\/1246475\/myntra-monthly-website-visits-by-country\/\" target=\"_blank\" rel=\"noreferrer noopener\">33 million<\/a>&nbsp;users every month. However, Myntra is more than just an eCommerce store.<\/p>\n\n\n\n<p>In the past 5 years, Myntra partnered with multiple offline brands. The company asks small-scale offline stores to promote Myntra&amp; display the eCommerce brand\u2019s lifestyle products. These efforts have allowed the brand to provide its customers with omnichannel experiences.<\/p>\n\n\n\n<p>What does Myntra do when certain products don\u2019t turn over fast enough at their physical retail stores? They direct that inventory to different online channels. What does the brand do when certain products do exceptionally well in their online stores?<\/p>\n\n\n\n<p>They direct that inventory to different offline channels. With multiple avenues, the eCommerce giant has more opportunities to deplete back inventory and maintain strict margins. The brand\u2019s omnichannel strategy also enables it to cut down commodity costs &amp; prevent unnecessary interruptions in its customers\u2019 shopping experiences.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Improved_Data_Optimization\"><\/span>Improved Data Optimization<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>An omnichannel retail brand receives two forms of customer data: in-store and online data. These two data sources enable them to add value to their services. Take Pepperfry, India\u2019s largest online furniture marketplace as an example.<\/p>\n\n\n\n<p>The brand grew in popularity by serving its customer base via online channels. But, since 2019, the brand has launched&nbsp;<a href=\"https:\/\/www.livemint.com\/companies\/news\/pepperfry-eyes-smaller-franchise-stores-for-omni-channel-expansion-11622470553036.html\" target=\"_blank\" rel=\"noreferrer noopener\">32<\/a>&nbsp;franchise stores across 25 cities in India. By leveraging the omnichannel approach, Pepperfry has increased its sales dramatically.<\/p>\n\n\n\n<p>Pepperfry collects vast amounts of user data through its well-established online marketplaces. This data is put to good use in Pepperfry\u2019s offline franchise stores where customers receive direct and personalized shopping experiences.<\/p>\n\n\n\n<p>By creating data-backed shopping experiences for its customers across all channels, Pepperfry has fostered a strong brand presence.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Cost-Efficient_Marketing\"><\/span>Cost-Efficient Marketing<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Merging your brand\u2019s digital &amp; physical presence must be expensive, right? Not quite. In the long run, adopting an omnichannel strategy helps retailers cut costs, especially marketing costs. An omnichannel brand will have more conversion tactics at its fingertips.<\/p>\n\n\n\n<p>Such a brand will also have more freedom to be creative with its promotions. For example, physical retailers can only rely on traditional marketing efforts to attract customers. Similarly, a digital retailer can only use digital marketing tactics.<\/p>\n\n\n\n<p>With an omnichannel strategy, brands can do both. They can use every physical or digital interaction they have with their customers to elevate their brands and drive consumer loyalty.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Final_Take\"><\/span>Final Take<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>In the post-pandemic world, it doesn\u2019t really matter if a customer is shopping online or in a store \u2013 can your brand provide top-quality experiences for the customer across all channels: that\u2019s the question retailers need to ask.<\/p>\n\n\n\n<p>Adopting an integrated <a href=\"https:\/\/vasyerp.com\/best-erp-for-ecommerce-omnichannel\">omnichannel e-commerce<\/a> strategy will allow new-age retailers to provide frictionless &amp; hyper-personalised customer experiences across all platforms. But, going omnichannel isn\u2019t easy: especially for small-scale retail brands.<\/p>\n\n\n\n<p>That\u2019s where\u00a0<strong><a href=\"https:\/\/www.vasyerp.com\/\">VasyERP<\/a>\u00a0<\/strong>can be of immense help. We offer 360-degree omnichannel solutions for retailers planning to go omnichannel. So far, we\u2019ve helped over 12,000 retail companies connect with their target customers across multiple physical &amp; digital touchpoints. Our ERP solutions can help your brand go omnichannel as well.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By 2026, eCommerce will account for&nbsp;24%&nbsp;of all global retail sales. Where customers go, retailers must follow. That means merging your brand\u2019s physical and digital storefronts has never been more important. According to consulting firm Mckinsey&amp; Company\u2019s chief retail analyst&nbsp;Eric Hazan,&nbsp;the world is entering an era of&nbsp;\u201cphygital retail.\u201d&nbsp;The term \u201cphygital\u201d is a combination of the words [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":15399,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[53],"tags":[54],"class_list":["post-15067","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-omni-channel-ecommerce","tag-post"],"acf":[],"jetpack_featured_media_url":"https:\/\/vasyerp.com\/the-retail-guru\/wp-content\/uploads\/2023\/07\/Main-Image_Updated_size_1200.jpg","_links":{"self":[{"href":"https:\/\/vasyerp.com\/the-retail-guru\/wp-json\/wp\/v2\/posts\/15067","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vasyerp.com\/the-retail-guru\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vasyerp.com\/the-retail-guru\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vasyerp.com\/the-retail-guru\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/vasyerp.com\/the-retail-guru\/wp-json\/wp\/v2\/comments?post=15067"}],"version-history":[{"count":5,"href":"https:\/\/vasyerp.com\/the-retail-guru\/wp-json\/wp\/v2\/posts\/15067\/revisions"}],"predecessor-version":[{"id":18173,"href":"https:\/\/vasyerp.com\/the-retail-guru\/wp-json\/wp\/v2\/posts\/15067\/revisions\/18173"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vasyerp.com\/the-retail-guru\/wp-json\/wp\/v2\/media\/15399"}],"wp:attachment":[{"href":"https:\/\/vasyerp.com\/the-retail-guru\/wp-json\/wp\/v2\/media?parent=15067"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vasyerp.com\/the-retail-guru\/wp-json\/wp\/v2\/categories?post=15067"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vasyerp.com\/the-retail-guru\/wp-json\/wp\/v2\/tags?post=15067"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}