Reasons why digital transformation in Retail fail
Ritesh Mohan
I help retailers to scale their business by 4X by leveraging sales data insights, retail ops & marketing strategies.??Retail Sales growth hacker, ??Franchise expert, International Business,Digital, Retail leasing & BD
The Pandemic accelerated the digital adoption by retail brands and the majority of brands initiated their e-commerce journey forced by the pandemic to sustain their business relevance.
Do you know the reason why most retail brands struggle online?
It is due to their traditional business mindset.
“Our stores are doing fantastic in term customer experience and assortment mix, lets mirror it online as well”.
The above mindset is one of the pitfalls wherein most e-commerce brands face roadblocks as things in digital space don’t work out the same way as it does in physical retail.
Also, it is observed that digital transformation in the retail sector is mostly spearheaded by the IT dept, which is like getting your signature dish prepared by your front office personnel.
Monitor how your customers engage on both platforms:
Online shoppers,?may?want as few clicks as possible between seeing a product and buying it.?
In response,??you have layout the assortment in the easiest way for the customers to browse, and click to reach the payment tab. Ease and speed to complete a transaction are of utmost importance here. Providing customer support for logistics support and answering customers' queries online.
But in-store, speed is not necessarily a virtue.?Customers?in-store tend to browse at a more leisurely pace and want a higher-touch experience?and customer service in terms of conceptually selling & selling of overall look (in the case of fashion).
The challenge for the brand is to tackle both mediums differently keeping a single objective in mind – “Delivering value to customers.”
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My advice:
Any DTC brand that hopes to succeed?has to keep these things in mind
a) The Most cost efficient channel of customer acquisition.
b)??Lowest customer acquisition cost.
c)???Optimise the cost of customer retention by engaging with them continuously.
Today I hosted on my podcast channel "Simplifying Retail", Ms. Shibi Kabeer, Founder & Chief Mom,?www.babystore.ae?and I shall publish a podcast tomorrow for my retail fraternity to gain & learn from Ms. Shibi’s journey in scaling?www.babystore.ae?in the middle east region.
If you are a retail business owner and want to scale your business both in the physical and digital space, then stop looking elsewhere.?
Schedule a call with me to grow your business. Call +971502476483 (WhatsApp) or email me at [email protected]
I help retailers to scale their business by 4X by leveraging sales data insights, retail ops & marketing strategies.??Retail Sales growth hacker, ??Franchise expert, International Business,Digital, Retail leasing & BD
1 年Thanks everyone
Honored to be voted as one of the top 50 Women in MENA Retail(Images RETAIL ME).Awarded the Best Emerging CEO-Startup,The World CEO Awards,2023. Driving force behind babystore.ae & medicaltradehub.com. Passionate Mentor.
1 年"Ease and speed to complete a transaction are of utmost importance here" - Perfectly said. Can't stress this enough. Great insights Ritesh Mohan retailritesh! Keep churning out more great content!
Director at Scent Global
1 年Ritesh Another good article - form my experience consumers like the convenience of E - tail, although crave the experience of the store experience. The key is the blend for retailers to create traffic on both in store and off line. Retailing is an evolving business and in my opinion goods retails will create an on line experience about a new product launch on line although only avaible in store to give a 360 customer experience. This also depends on which territory you are trading in world wide.
Some great points. I have found from my experience potential customers in this region like to still chat with someone in real-time before making a purchase decision. They are still human beings and want instant feedback on their thoughts.
If you are looking for a job or business leads in UAE, share my profile on your LinkedIn post to reach 100,000 brands in the UAE | CEO of Seosouq.com | Baselook.com | DMD Group (165K Members)
1 年Good points