OMNICHANNEL STRATEGY
Tata Sons hits pause on fresh funds till e-commerce, electronics businesses shape up
"There is a strategic reason for not making any equity infusion even as organisational changes are being made," said one of the persons. "However, new fund infusion will commence after the strategy and organisational changes for better operational efficiencies are in place." Registrar of Companies (RoC) filings obtained through business intelligence platform Tofler show group holding company Tata Sons didn't invest in Tata Digital in FY24.
Premium luggage maker Eume raises Rs 15 crore in funding round led by Ashish Kacholia
Eume plans to open its first flagship store this year, starting in Mumbai and tapping the aspirational population in tier II and III cities are among the company's top priorities. The Mumbai-based luxury brand offer diverse products like luggage, vegan handbags, and accessories, among others. Eume's sales are split equally between its own website and marketplaces.
Nykaa appoints Santosh Desai as independent director
Santosh Desai previously served as the CEO of business consulting company Future Brands for nearly 17 years, and also as president of advertising firm McCann.
FMCG giants pivot to premium: Nestle and ITC lead with innovative strategies
FMCG giants like Nestle India and ITC are adopting innovative strategies to tap into the growing demand for premium products. Nestle plans to hire tasters and connoisseurs for its super-premium Nespresso coffee and boutiques, while ITC is leveraging AI and ML to predict demand and recommend products for its premium portfolio, including Fabelle chocolates and skincare.
Offline stores are trending as new set of D2C firms emerge
Investors and startup founders are noticing a trend: D2C businesses across various sectors, like fashion, electronics, and food and beverage, are opening physical stores (going offline) even after their initial funding round.
About 90% of Indian retail market will remain offline: Accel’s Prashanth Prakash
D2C brands, primarily online-first, consider expanding to offline stores as Indian retail market grows to $2.2 trillion by 2030. Reports highlight the rise of omnichannel firms like Nykaa, Lenskart, and the shift towards omnichannel purchases.
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Licious turning omnichannel with five stores in Bengaluru by June
Licious founders plan 500 stores in 5 years with 6% operating profit margin. Targeting profitability by FY25, focusing on offline strategy. Improved demand forecasting and introduced subscription model for growth.
Myntra appoints Shoppers Stop's Venu Nair as chief of strategic partnerships and omnichannel
Nair joins Myntra from offline shopping chain Shoppers Stop, where he was the managing director and chief executive officer for about three years.
B-schools, corporates resort to board games as a training strategy
Board games emerge as innovative teaching tools in B-schools and corporate training sessions. Professors at institutes like IIM Ahmedabad and IIM Udaipur employ them to impart skills like negotiation and decision-making. Customized games, like one used at 3one4 Capital's annual meeting, offer unique learning experiences. With attention spans dwindling, board games offer interactive and engaging learning opportunities, making them increasingly popular among students and corporate professionals alike.
Xiaomi lists premiumisation, AIoT, omnichannel push as India priorities
In 2024, India smartphone market will grow in single-digit percentage, largely driven by 5G, says Xiaomi India chief Muralikrishnan.
Creating a seamless customer journey: The CXO's guide to omnichannel excellence
Omnichannel excellence revolves around the idea that customers should be at the centre of all interactions, regardless of the channel they choose. This approach acknowledges that customers may start their journey on one channel (e.g., browsing a website), switch to another (e.g., contacting customer support via chat), and then make a purchase in a physical store. At each step, the customer should feel like the brand has a comprehensive understanding of their needs and preferences.
Omnichannel meat retailer Zappfresh raises $4.3 million from Heifer Impact Capital
The round also saw participation from publisher Hindustan Media Ventures, venture firm Ah! Ventures, and Unity SFB. Zappfresh founder and chief executive Deepanshu Manchanda did not disclose the valuation at which the latest fundraise was done, but said it was over twice that of the last round.
ET Soonicorns Summit 2023: From Mama Earth IPO to Good Glamm Group’s content-to-commerce model and omnichannel strategies, experts on the evolution of D2C ecosystem
The Delhi-NCR edition of the ET Soonicorns Summit 2023 delved into the direct-to-consumer ecosystem, encompassing brands as diverse as the Good Glamm Group, a global beauty conglomerate from India, to Radhika Ghai-led KindLife and ShopClues and enablers such as ShipRocket and Fashinza. With Mama Earth making its public-market debut, it’s only time to note what founders and ecosystem experts had to say about the trajectory of the D2C space as the story of consumerisation 2.0 gains momentum in India.
IT slowdown to hit appraisals; Ghazal Alagh on Mamaearth’s growth strategy
Pay increases at top tier Indian IT firms could halve from a year ago as the $245-billion industry faces a major slowdown. This and more in today’s ETtech Morning Dispatch.
Creating a Seamless Customer Journey: The CXO's Guide to Omnichannel Excellence
In today's digital age, customers expect a seamless and consistent experience when interacting with a brand across multiple channels. Chief Experience Officers (CXOs) play a crucial role in guiding organizations towards omnichannel excellence.
Why digital transformation is critical for businesses to stay competitive in the 2023 landscape
To stay competitive, businesses of all sizes must adapt and evolve with the changing technological landscape. Digital transformation has become a necessity. Read to learn more about it
Innovative Customer Experience: How CMOs can elevate CX with Technology and Insights
Customer experience (CX) has become a crucial factor for business success in today's rapidly evolving landscape. Chief Marketing Officers (CMOs) play a vital role in elevating CX by utilizing technology and insights.
Ikea eyes omnichannel expansion and local sourcing in India
Susanne Pulverer, CEO of Ikea India, emphasized the company's commitment to long-term growth in the Indian market. She stated, "Our next growth phase in India looks very promising and full of opportunities. IKEA is committed to India and here for the long term. We are looking at an omnichannel expansion in India with diverse retail formats to come closer to the many people in India."
Uptick in discretionary spend propped up retail commerce in April-June quarter: Redseer
Traction for offline retail also increased on the back of higher rural demand, particularly for fast moving consumer goods (FMCG), the Redseer report noted.
Omnichannel DaaS platform Moonshot scales up hiring plans
Dhruv Jain, Co-founder, Moonshot Distribution System, said, “The network of Moonshot Distribution System is built on its employees who possess a strong knowledge of the industry. With the plan to expand our team by the end of F23, we are aiming to increase our scope of services to help our partner brands scale exponentially.”
Merger synergies to ensure mortgage & liability strategy will work together: Srinivasan Vaidyanathan, HDFC Bank
The other kind of a front end is also the customer experience hub which is there. The customer experience hub was launched 3-4 months ago is receiving excellent accolades in terms of the customers ability to solve what they want and Omni-channel experience so that customer does not need to repeat the things that they have been trying to because it captures and it stores and it hands off to the next person very well and across channel a brand channel, a VRM channel or a sales and relationship channel and so on.
ADIA $350 million investment in Lenskart likely next week
Omnichannel eye retailer valued at $4.2 billion, larger capital raise will also see Chrys Capital’s $100 million cheque
E-commerce didn’t kill brick-and-mortar stores, but created a balance with omnichannel: ShopClues’ Ghai
Speaking from her experience at ShopClues, which was founded in 2011 and became one of the earliest unicorns in India, Ghai said that back then, e-commerce penetration was virtually negligible to 1-2%
Bluestone raises $30 million at a valuation of $410 million
CEO says aiming for IPO in the second half of next fiscal year
Walmart not keen to open retail stores in India; to focus on Flipkart, PhonePe
"We've got an omnichannel strategy that includes both of those components. And when you have both components, the customer experience can be more seamless, and there are advantages to being able to go to a store if you wanted to. But, we're not focused on that at the moment.
ABFRL to set up new entity for D2C entry
The company which sells clothes and accessories from Louis Philippe, Van Heusen, Allen Solly and Peter England, among others, said it will incubate as well as acquire newer brands. The new venture will initially be funded through ABFRL’s internal accruals but will look to bring in external capital to accelerate the growth journey at an appropriate time, it said in a statement.
Tata-owned 1mg, PharmEasy go offline for omnichannel presence
Tata-owned 1mg is set to open its first physical store in Gurugram next month while rival PharmEasy has started to expand across the offline channel through franchise stores.
Change in Strategy: Ikea to open more smaller stores; focus on omni-channel in India
This is a departure from Ikea’s original 2013 India plans when the government cleared the Swedish retailer’s application to invest Rs 10,500 crore to open 25 of its sprawling giant-sized outlets.
Lockdowns have changed consumer buying behaviour; omni-channel strategy key to business growth: Report
As per the report, called 'REBOOT', while the pandemic brought massive disruptions across the value chain of the consumer sector, most companies adapted by building agile business models and innovative marketing strategies, along with expanding their presence through the online platforms to reach their consumers.
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