Digitalized Retail Environment via SVI and Omni-Retailing: an Indian perspective

Abstract

Organized retailing in India has been heavily depending on the physical infrastructure to distract customers and subsequently making conversions for many years. However, the adoption of technology in retailing and the use of digital gadgets have also changed the way the offline sales used to be done. The technology has also helped the retailers to identify the critical areas complimenting the sales process and concentrate on the changing habits of customers. One such area can be the order-fulfilment process via Omni-Retailing, which requires transformation in certain regularly followed phases of it due to the intervention of digital processes. Many emerging as well as established Indian retailers have been thoroughly assessing the challenges (mostly in terms of customer attrition) faced by them in the absence of certain tools like SVI (Single View Inventory) orders even for products like electrical vehicles (EVs). Thus the current study focuses on various cost reduction strategies by the adoption of such emerging but essential tools like this, which can help the retail managers and strategists to drive off-line sales more efficiently.