Omni-channel solutions platform Capillary Technologies plans to invest $4 million in developing new products to grow revenues.
Abhijeet Vijayvergia, Vice-President and Business Head - South-East Asia and India, Capillary Technologies, told BusinessLine that the company expects to double revenues to about $50 million by 2018.
Vijayvergia said the overall omni-channel value in India is about $24 billion, which is expected to double in the next three years. “Some of our customers across Asia have benefited from omni-channel, which influences more than 10 per cent of their revenues,” he said.
Quoting Myntra’s example, he pointed out that the fashion portal has ventured into the offline space with its Roadster brand. Amazon too has opened its first offline store, Amazon Go. Offline retailers have started to realise they need to be where their customers want them to be.
Capillary has worked with over 2,000 brands, including Wal-Mart, Unilever and Pizza Hut. He said the company integrates all channels of a customer by creating a single-window view of consumers and loyalty, allowing users to earn and burn loyalty points anywhere. It also helps customers create a single-window view of catalogue, pricing, inventory and promotions.
Capillary has also fast-tracked the process for large brands going live with their e-commerce portal within 4-8 weeks, compared with the industry standard of 16-24 months, as the go-to-market time is critical in a hyper-competitive world, Vijayvergia said.
He said that not being omni-channel is no more a choice, but an imperative need for the retailer. In one case, the company was able to reduce loss of sale by as much as 25 per cent, he claims. Loss of sale happens when a customer likes a product but it is not available in the store. This issue was solved by seamlessly aggregating the inventory and offering customers a choice to to buy at the store and be delivered the product at home.