With an observation that omni-channel integration is the future of retail industry, 25 percent of India’s online and South-East markets follow the same trend and simultaneously in India even from small mom-n-shop stores to eCommerce players to branded online and offline retailers are marking their presence across all the channels. Capillary Technologies, the leading omni-channel engagement platform is capitalising more and more on offering innovative solutions to the retailers across the country. Hence, while interacting with Indianretailer.com, Abhijeet Vijayvergiya, Vice President, India and South East Asia, Capillary Technologies talked about how retailers and retail industry is gearing up to have an omni-channel presence.
How is Capillary Technology helping retailers increase sales through omni-channel engagement?
We help brands in digital transformation by stitching the entire fabric of consumer journey. 10 percent of India’s organised retail passes through Capillary cloud. We help brands increase consumer reach, engagement, sales and loyalty across physical and digital channels – stores, web store, mobile store, mobile app, social, in-store kiosks to name a few, which effectively translates to revenues for the retailers. We typically help brands garner 10-15 percent of their revenues through customer-led digital transformation.
We provide solutions like acquire, analyse, engage, transact and retain for the brands, which helps them acquire new footfalls and customers that results into 2-3 percent incremental sales. It helps retailers to analyse store footfalls, segment customers, predict shopping and interaction patterns across offline and online channels. The Customer Relationship Management (CRM), Customer Satisfaction (CSAT) and Marketing Cloud solution help brands to engage one-one with customers across social, mobile, online and offline stores. Through MartJack, omni-channel commerce platform brands can go online in 90 days, seamlessly manage online orders across its online store, marketplaces and unlock the value of physical stores through online to offline (O2O) use cases such as loss of sale. The loss of sale management solution will increase your offline store sales by 2-5 percent. Finally with our Omni-channel loyalty solution, brands can retain and win back customers across offline and online channels.
Which are the leading retailers you are working with?
Currently we are working with Unilever, Walmart, Landmark Group, Biba, Madura Fashion, Bata, Arvind Brands, Redtag, Calvin Klein, Gap, Courts, Clarks, Starbucks, Pizza Hut, and Puma to name a few. We have more than 250 plus marquee brands across all retail categories.
How are offline retailers gearing up to beat the heat of ecommerce by opting for omni-channel integration?
Digital transformation is revolutionising the way retail in done in India. It’s the biggest transformation in Indian retail industry after organised retail has emerged. We have retailers from all walks of life, from Pharmacy to fashion to grocery to FMCG. Omnichannel is for every category of retail where there is an end customer interacting.
Omni-channel retailing helps retailers not only to retain their existing customers, but also to serve them better, extending longevity of loyalty with the brand. Higher the number of touchpoints with the customer, higher the possibility of brand recall. Higher the brand recall, higher the possibility of retaining the customer. Effectively, increased interaction between the customer and the brand with a superior customer experience, will translate to higher revenues.
What is the ROI that the retailers get while investing on omni-channel engagement?
We deliver 3-5 percent growth in same store sales, leading to over 3X ROI on margins generated and 8-10 percent of retail sales from online channels over a course of 18 months to 3 years
What is your current turnover and CAGR?
We are currently growing at more than 100 percent YOY. We are targeting 3X growth over the next 18 months. At our scale, we will be the SaaS Leader in Asian markets. Our ecosystem strategy will help us add new products to our Omni-channel portfolio.
What are your future expansion plans and targets?
We will focus and go deeper in India, South East Asia, Europe Middle East and Africa (EMEA) and China markets. We will continue to build newer and deeper solutions for existing verticals. Also, we will continue to build innovative solutions for manufacturing / distribution space such as B2B2C commerce with a focus on optimising supply chain. We will lead the space by taking an ecosystem approach for Omni-channel space.
We will continue to build new innovations in eCommerce, customer engagement and analytics space. There are many products in O2O (Online to Offline), Social Commerce, Machine Learning space, which are in the lab. The same will be disclosed very soon. We firmly believe each product will fundamentally be game changing. We already have 100+ third party systems integrated with Capillary’s solution suite.
According to you, how has Indian retail market transformed over the years and what would be the future of the industry?
Retail, as we know today, hasn’t changed much in the last one century. Until mid-1900’s, India was unaware of the concept of organised stores. But, with the advent of internet and India’s appetite to internet consumption, in the last decade, much has changed on the e-commerce front. India is at that inflection point where the advent of internet penetration (desktop and smart phones) coupled with increasing per capita income, the consumption rate will go up multifold over the next couple of years. And the way forward for the retail industry is to be present everywhere to engage with their consumer; we call this Omni-Channel retailing or Consumer-led Digital Transformation. By 2020 the size of Indian retail industry would be $1.3 Trillion.
Inputs given to Sunil Pol, Correspondent, Retail360asia