Reports suggest India is one of the fastest growing e-commerce markets in the Asia-Pacific region, growing at a CAGR of 57 per cent. As per a report by Forrester, India’s retail market is estimated to grow to US $850 billion by 2020 at a CAGR of 10 per cent.
2016 was the year of online shopping. According to the Annual Global Cross-Border Consumer Research 2016 report, Indian online shoppers spent Rs 58,370 crore on shopping in 2016. Online shopping was also up by a whopping 83 per cent last year. By 2020, it is estimated that $100 billion will be generated from online retail revenue. From this, $35 billion will come from fashion e-commerce.
2016 was also the year when retailers realized that there has been a massive power switch – from shop owner to consumer.
A Deloitte study titled ‘Connecting with the Connected Consumer’ says: The supply-driven world has become a demand-driven world where the consumer is in charge. Today’s consumers are not only critics and curators, but, increasingly, creators. Yesterday’s consumer purchased from a limited set of offerings, and the communication was one-way, under complete control of marketing and advertising agencies. Today, individual consumers can start with an idea, a need, or an inspiration and browse online to find what they want, and, if they can’t find it, create it themselves by working with companies that provide this capability. Today, the consumer is in charge.
The need to deliver exceptional customer experience has become more important than ever.
The Business Challenge Today
- Transformation from physical stores to Omnichannel Era
- Supply Chain Optimization & Visibility
- Omni channel – Organizations aren’t there yet
- Mobility beyond B2C
- Collaborating in a complex world
- Big Data & Analytics
HCL participated in the South India Retail Summit 2016 and North India Retail Summit 2016 presented by India Retail Forum, to discuss on key issues faced by the retail fraternity and to exchange best practices within the industry.
HCL presented a session on – Power your Digital Journey: Towards a ubiquitous customer experience – sharing trends on millennial consumer behaviour and presented the ‘Commerce in a box’ proposition which is a one stop shop to sail you through your Omnichannel journey. The HCL SME moderated a session which discussed ‘Retail Transformation and Winning Strategies in a Connected World’.
The booth setup by HCL technologies showcased HCL SPAR Omnichannel journey which took the hypermarket from Brick and mortar model to online spaces.
The HCL Difference: Commerce in a Box
HCL Commerce in a BOX proposition brings array of customizable options to make your enterprise omni channel ready.
- Use Commerce in a Box to design your online store – Choose from a series of professional themes, Customize the look of your online store, Create your own custom theme
- Build & run your store website with ease – Fully featured Content Management System, Extend the functionality of your storefront, Detailed customer accounts and profiles
- Enable online transactions – Multiple payment gateways, Painless customer check out, Automatic carrier shipping rates
- Unlimited web hosting – Unlimited bandwidth, 99.94% uptime, 24/7 support, Hassle free setup, your own domain name, Blazing fast servers
- Make your store accessible to different markets – SEO, Social network integration, Advanced store statistics
- Reach your customers through their mobiles- Mobile Themes of choice, Manage your store on the go
- Increased Revenue across channels
- Accelerate Time to Market
- Lower cost of business operations. GO LIVE in 90 day
- Increase in customer engagement
- Easy scalability as per the business operations
Forrester: Rated HCL as a “Strong Performer” in Global Commerce Service Provider Wave, February 2012 Capabilities Evaluated across 72 criteria including. eCommerce, Mobility, POS, Distributed Order Management, Supply Chain, CRM & Loyalty, Customer Experience.
Gartner: HCL’s mobility vision is to deliver the connected customer experience across channels, helping clients improve customer experiences and strengthen relationships. It has a broad portfolio of mobile implementations across a wide range of industries and strong technical capabilities across many platforms and devices (supported by testing and innovation labs) and a rich set of solution accelerators.