According to Prateek Sinha, industry manager for retail and e-commerce at Facebook India, India’s mobile phone boom will help drive omnichannel retail trend in the country. Traditional retail is here to stay, but with e-commerce on the rise, it’s blending both formats which offers huge opportunity to India’s brands.
“Traditional retail will continue to grow at an aggressive 15% in India. And e-commerce, or m-commerce as we call it now, will grow in double digits, almost at 30% or more. Both shall co-exist for a long time to come, and this will be led by smartphones,” said Sinha at the India Retail Forum in Mumbai recently.
Sinha spelled out the key trends that are reshaping retail as we know it today. Driven by mobile technology, omnichannel will evolve and consumers will engage with brands and businesses across both online and offline and across three core vectors, he explained.
“One, how mobile is disrupting businesses. Two, how it is disrupting media consumption habits. And three, how consumers behave today and how mobile influence will disrupt consumer experiences.”