For the past few years, the retail industry in India saw a wave of transformation. The reason is not just the pandemic. The virus that shook the world has certainly accelerated the pace of this change.

The reason for this transformation is ‘Customer centricity‘ – a race to offer exactly what the customer wants when they want it. Consumers want shopping to be convenient, fast, and easy. This resulted in the emergence of newer technologies, greater efficiencies, and increased personalization that is blurring the lines between physical and digital.

Here are the top 5 retail trends that will shape Indian retail in 2022 and beyond.

 

1. Personalisation

Today’s consumers are picky – we like our shopping journeys to be defined for us, by us, and based on our likings. We seek to shop online or offline, choose from a wide range of products, get personalised offers & discounts, and access smart payment and instant point-of-sale credit options to complete our purchases.

Retailers have realised that personalisation is a key differentiator that would get them their next sale. To ensure that the consumers’ interests are met, they are introducing user-friendly platforms to offer seamless experiences.

Even the small & mid-sized retailers are racing this route of personalisation like their bigger counterparts. Most of these small neighbourhood electronics stores are creating their digital storefronts on GoStor.com to offer a personalised phygital shopping experience to their customers.

 

 

2. Endless Options

Offering a wider range of products is yet another differentiator that gives retailers a competitive edge. Not only do customers prefer to buy from the stores that spoil them for choices, but they are also more likely to return to these stores for their future purchases. A wider product range is a proven way to bring in repeat business and help retailers build long-lasting relationships with their customers.

As stocking more products block a retailer’s working capital and add the costs of maintaining slow-moving products, several offline retailers are offering the widest range of products through GoStor.com which gives them access to an unlimited digital inventory. Consumers benefit by getting a 10x larger product range through GoStor.com kiosks and QR codes in retail outlets and can make an instant in-store purchase.

 

 

3. assisted sales

Buying electronics and large appliances is a family affair in an average Indian household. The entire family prefers to participate in the product purchase journey and seeks responses to questions ranging from the product’s energy efficiency to warranty to returns and replacements. Retailers share their advice, clarify their prospects’ doubts and influence their purchases.

GoStor.com has redefined eCommerce by helping customers experience the offline product purchase journey online through its video sales feature. Customers can connect with their choice of stores through a video call, get product demos, ask questions and seek recommendations about the product that best suits them, from the comfort of their houses.

 

 

4. competitive pricing

Multiple factors might influence a consumer in their buying decision, but pricing certainly would be one of the key deciding factors. Indian consumers are value-conscious. We wait for the sale days or steep discounts to make our high-value purchases, especially electronics & appliances.

GoStor.com recognizes this need and ensures that consumers get the best pricing every single day in both offline and online purchase scenarios. If consumers find a better price for a product of their choice elsewhere, they can just share the URL of that product page in the price challenge window of GoStor.com to get the same price or even a better deal.

 

 

5. faster deliveries & Installation

Fast delivery is the need of the hour and there is no space to compromise that. However, when it comes to large electronics and electrical appliances that require installation, the entire process becomes tedious and the wait becomes a frustration among the consumers.

GoStor.com eliminates this wait and helps us experience our newest acquisition at our homes soon. As it’s our neighbourhood store that usually services us, GoStor.com supports the same-day product deliveries and triggers faster product installations.

 

Bonus: Resurgence of shop local

Another emerging trend in retail is the resurgence of localized shopping. In recent times, consumers choose to make a difference in the livelihoods of their local merchant establishments by preferring them over the bigger names in the market. Consumer loyalty towards the local retailers yields them benefits like assisted and customized purchasing experience, faster deliveries and installation, and excellent after-sales service.