Netrabile said that the technology marvel is evolving at a great speed and dominates a large aspect of our lives today. As far as e-commerce is concerned, the core focus is on how to use technology to help deliver on the brand’s strategy. He believed that technology is the tool that helps one manage the business and operational complexity.
“Smart retail technologies have been adopted by almost all retailers but encompassing technology as a core of their strategy and deriving benefits from its implementation, is what separates Pepperfry, from the followers,” he said.
Technology: A Game Changer
Netrabile shared the top three technologies that helped Pepperfry set itself apart from its competition.
Omnichannel and Beyond Customer Experience: Having a consistent customer experience across all points of interactions, be it on the website/Apps, personal interaction at the studio, or virtual meets in the metaverse, is very important. Pepperfry knew this a long time back and hence we had adopted omnichannel experiences way earlier than other players. Metaverse is the new tech, in which Pepperfry is trying to visualize the kind of experiences which will work for our users.
Virtual Reality: Pepperfry has been the earliest proponent of Augmented Reality and has seen the benefits of first launching 2D AR and then moving to 3D AR. The next step in this direction is toward an immersive and personalized VR.
Machine Learning: Personalization, chatbots, recommendations, demand forecasting, last-mile delivery optimization, etc. are a few examples where ML-processed information can help achieve conversion goals.
Driving the Omnichannel Retail Revolution
In an effort to increase business, ensure cost-efficiency and optimize the efficiency of its systems on the back of technology tools, Pepperfry is heavily investing in integrating advanced technologies within its business model.
Since it is a vertical player, one of its key focus areas is streamlining product discovery for its users. Also, with an objective to help its team stay updated on important metrics and trends, Pepperfry has built an in-house analytics solution that enables it to craft consequential strategies to continue championing the online furniture and home space.
“We have enabled a 3D experience for a large number of our furniture products where a user can view a product in the 3D model as well as interact with the product on their mobile phones. We have noticed a significant rise in conversion rates for products that have 3D models, which clearly implies that there is high consumer affinity towards this feature,” Netrabile explained.
Tech to Revolutionize the Retail Sector in Future
Netrabile noted the technologies that should be introduced in India to revolutionize the retail sector, including farm-to-table seamless logistics, hyper-automation built on existing technologies, better virtual technologies, and experiences, and easier checkout and payment experiences.