Tech investments in the retail sector have been ongoing for decades as companies look to address business performance, efficiency and cost cutting initiatives. In recent years, ecommerce is arguably the most significant retail digital transformation ever. However, Covid-19 has forced retailers to invest more money into new technologies and implement digital strategies much faster than otherwise planned. What’s interesting is that brick-and-mortar stores that added ecommerce during the lockdown are accelerating their digital commerce practices to thrive in the new normal.
One of India’s leading retailer of fashion and beauty brands Shoppers Stop Ltd has collaborated with Accenture to accelerate its digital commerce transformation across multiple retail channels. The collaboration will help the retailer enhance customer experience and profitability and keep up with its constant innovation strategy.
“Omnichannel commerce has been a huge focus area for us as we seek to meet and exceed our customers’ evolving needs and expectations,” said Venu Nair, Shoppers Stop’s managing director and chief executive officer.
“By collaborating with Accenture, we want to further strengthen our digital commerce strategy for greater reach and access and also improve the overall shopping experience of our customers. We aim to achieve significant profitable growth in our digital commerce revenues over the next three years.”
Since the second half of 2020, Shoppers Stop has embarked on a transformation of its omnichannel growth strategy. With Accenture’s help, the company is strengthening its digital platform, powered by real-time data and analytics across the value chain – from customer experience and supply chain operations through to sales and last mile delivery.
Providing a single view of customer and market insights for faster and informed decision-making, the platform optimizes customer targeting and contextual marketing with the goal of improving customer satisfaction and revenue. Further, the advanced user interface and user experience are enabling Shoppers Stop customers with a seamless experience across the “browse, search, order and return” stages of the shopping lifecycle, helping bridge the gap between physical and digital touchpoints.
“The retail industry needs to constantly reset so it can stay relevant in the face of changing shopper expectations, and create experiences that engage and delight,” said Sameer Amte, managing director at Accenture, who leads its retail practice in India.
According to Amte, “This scalable digital commerce transformation program will help Shoppers Stop respond to emerging customer needs and realize new marketplace opportunities, while delivering superior customer experience. We are combining our deep retail experience with diverse capabilities across strategy, analytics, technology and digital marketing to help the company drive its omnichannel strategy.”
Piyush N. Singh, who leads Accenture’s business in India, said, “Of the many shifts precipitated by the crisis, the acceleration of online consumption is one of the starkest. It is also an irreversible trend which has a long-term bearing on the consumer goods and retail industry. There is an urgent need to reimagine business models to stay on the path of growth and we look forward to collaborating with Shoppers Stop on its digital reinvention journey.”
Shoppers Stop has been transitioning from being a brick-and-mortar to an omnichannel retailer, empowering customers with its digital initiatives to ensure a seamless shopping experience. The company believes that with its relentless innovation, customers can shop safely, and at their convenience through WhatsApp, its website and application. During the first phase of the lockdown, Shoppers Stop unveiled the White Glove Service for remote assistance and sales. With this service and Endless Aisle, customers can shop easily from home. The brand has invested in meticulously training its personal shoppers and beauty advisors to ensure an engaging customer relationship over WhatsApp.
According to findings of a global survey, the dramatic rise in e-commerce driven by the COVID-19 pandemic is likely to remain or accelerate further. For instance, the proportion of online purchases for products such as fashion, home décor, and luxury goods by previously infrequent e-commerce users has increased 667% since the outbreak in India.