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Leading retail chain Future Retail Ltd is preparing a digital platform and an omnichannel to support its strong brick and mortar business.
“Work on beta versions to fuel the growth of the online business is now underway. Tests are being conducted. We will soon launch services that support the near 200-strong store retail chain,” Rakesh Biyani, Joint Managing Director of Future Retail Ltd, said.
“The omnichannel will enable the retail chain to strengthen the network and develop a supply chain. Though we believe that there is no substitute for experiential brick and mortar shopping, there is a growing segment of buyers which would want to shop from homes for convenience or due to lack of time,” he said.
“The company is building a strong loyalty programme in partnership with a global major with the objective of providing heightened customer experience. This will enable us to develop a new, efficient channel to deliver services at home,” he said.
Speaking on the sidelines of a meeting hosted by the FICCI Ladies Organisation (FLO) on Bricks and Clicks and Online and Offline retail world, he said, “While the company expects to add about 25-30 stores during this year, up from 200 now, and 20-30 stores each year over the next five years, the new omnichannel which we are building would complement the traditional retail network.”
The retail chain, which focuses on three broad areas of fashion, food and home, employs over 40,000 people and has some one million people dependant on it both directly and indirectly. “While online sales channel could add to the business volumes, the traditional brick and mortar business is hard to replace. Likewise, no one can take away the business of traditional Mom & Pop neighbourhood stores,” he said.
Biyani said, “ Foreign direct investment in the retail sector will expand the market and also bring in huge investments.”
Unlike in the West, where shopping and retail stores are integral part of development, municipal corporations unfortunately do not think on these lines in India. However, the retail policies announced by the Andhra Pradesh and Maharashtra governments seem to encourage holistic retail growth, he said.
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