Right from its initial days in India in 2014, Amazon has been experimenting with various supply chain initiatives to improve last mile performance and reduce cost, while delivering consumer convenience in the process.
ICLP survey finds that ecommerce giants are performing well when it comes to customer recognition and personalisation, while multi-brand retailers excel at building trust and encouraging recommendations.
The touch & feel mode in many categories cannot be eliminated, especially before making a final decision. Therefore, retailers and brands are progressively inching towards innovation to react to the smallest buying cues left by a potential buyer.
While from a long term perspective, the benefits are immense, in the short term, in the absence of any meaningful announcements in the upcoming budget 2017, we are likely to see a demand contraction on the consumer side.
Loyalty programs bring retention and long-term focus on customer trends, usage, and social media behaviour to the retail sector. Keeping this in view, 2017 predicts a stronger, more efficient, agile strategy for loyalty programs.