Traffic, space crunch and long queues- reasons for giving a miss to the nearest grocery store or a restaurant are aplenty. With buying food online becoming extremely convenient through digital payments and even cash on delivery (CoD), 2018 will be the year for a major shift in the food industry according to reports.
Several recent studies have stressed that there would be more than a seven to ten fold increase in revenue generated through e-commerce when compared to last year, thanks to all branded apparel, jewellery and footwear becoming cheaper, while getting delivered at the doorstep. The key highlight is, however, studies now suggest that grocery and food industry will own the e-commerce this year! And if the recent trends are to go by, it may not be too far for these predictions to come true. If BigBasket has hit the Rs 100 crore sales mark and is in talks with Alibaba for more investments, Grofers has attracted Amazon’s investment interests and soon maybe clinching the deal. With Flipkart and Amazon also introducing groceries, it is no surprise that stakeholders believe that the food industry will play a big role in the e-commerce marketplace.
According to a recent KPMG reports, E-commerce has deeply penetrated into many homes because people from various sections of society, age groups and geographical areas have embraced it for its convenience and affordability. Also, growing consumerism, disposable incomes and changing lifestyles have prompted the increased use of e-commerce. There is a large shift in the industry with customers not just buying mobiles or small-ticket items online, but even fashion and food.
Interestingly, homegrown e-commerce marketplace Flipkart has also given indication that more consumers will grow for fashion and grocery in 2018 and the unicorn startup was prepared to handle the surge in consumer demand.
Mobile shopping adds to the rise
Further, another report said that in 2017, 82 per cent of shopping queries were made through mobile devices, compared to 76 per cent in 2016, indicating the increasing mobile transactions. A market analysis shows that one out of three customers currently makes transactions through mobiles in tier-1 and tier-2 cities and this use could have an effect on the grocery shopping too.
Perpule, an Omni-channel retail-tech company and announced the launch of its next-gen Point of Sale (POS) billing solution called UltraPOS. Perpule’s UltraPOS is a platform independent, form factor independent POS billing system which can enable anytime, anywhere billing. It is a cloud-based SaaS product which eliminates the need of bulky servers and computers in the store. UltraPOS will enable offline stores to reduce billing counter size by up to 40% and help increase sales and revenue through an AI/data-driven approach to dynamic offers, cross-sell and upsell. It is currently being used by retail brands such as Vishal Mega Mart, Big Bazaar, Foodhall and many more.
Perpule UltraPOS can render traditional billing systems obsolete with in-built features such as analytics, inventory and staff management tools. Retailers can update product prices, stocks, offers, etc. consistently across platforms. The cloud-based solution seamlessly operates in online as well as offline modes which is perfect for India where connectivity is still a challenge. This solution also gives omni-channel players a platform to manage order and inventory for both e-commerce as well in-store sales from the store itself. The UltraPOS solution can work with any device such as handhelds, mobile, desktop and tablets. It allows cashiers to scan barcodes, generate receipts and accept payments without any hassle. Retailers can also opt for the accompanying hardware (a handheld device) at no additional cost and a flexible monthly rental fee. Retailers can also opt UltraPOS for their existing infrastructure or try out a combination of both handheld and traditional billing modules.
A major challenge for retailers is the lack of display area and suboptimal customer flow. UltraPOS tackles this by reducing the size of billing counters, allowing for more space to showcase merchandise and increase footfall. Due to the mobile nature of the device, users can save significantly on IT capex, opex and manpower costs. Retailers will be able to get more than 50% reduction in POS technology spend (eg. store server, computer, printer, scanner, EDC/payment, networking, etc) and 95% reduction in paper saved from digital receipts. Perpule also provides value-added services for retailers to increase revenue such as bill payments, recharges and ticket bookings.
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