Urban Ladder, Flipkart, Myntra, LensKart - Opening Store Next to You
The Urban Ladder has become the latest Indian e-tailer to explore the possibility of an omnichannel retail strategy, players such as eyewear retailer Lenskart have had an offline presence for a few years now,Flipkart-owned fashion retailer Myntra will be starting with exclusive stores for its in-house brands early next year,mother and childcare e-tailer FirstCry have already set up offline network of 300-400 stores through franchisee networks.
Now you must be wondering why am I sharing these news with you. Thats coz I want it to be an eye opener for all small retailers who are planning to jump in online space with an e comm. Actually the above news suggests that though e comm is successful for white goods but as far as furniture , apparel & accessories are concerned , you need to provide a touch and feel experience for customers as it is the one of the major reasons of heavy losses to e tailers-- the cost of product’s return every time.
Also the retailers who are already selling their products on these online portals are not only paying heavy commissions but also bearing the losses due to return policies.
I would like to share an article by a fellow retailer for the same…
Now with ecomms entering into offline sector, imagine your products will also be sold in your next door’s flipkart’s store and you will be paying 30% commission on that….witty, right?
Let me take this opportunity here to tell you that the only reason behind this situation, is your absence from Search + Social, because offline and online are the two different channels as complements rather than competitors.
Feel free to ask if you have any questions in the comments. I would be happy to answer.