Top 3 innovative omnichannel solutions for online retailers

Most of us talk about omnichannel struggle that brick and mortar retailers face when they try to integrate with their offline store to online. However, the struggle for offline retailers is much bigger in their offline transition.
omnichannel

Online to offline (O2O) is evolving as sophisticated strategy in delivering omnichannel experience to consumers. There are many brands including Nykaa, Lenskart, Caratlane, Urban Ladder amongst others which started their journey via online channel and eventually moved to offline space. In fact, recently e-commerce major Amazon too has tiptoed into offline space by announcing the rollout of more than 100 kiosks around the country. The experience of offline store is unmatched; hence, it has become mandatory for online retailer to go offline.

However, most of us talk about omnichannel struggle that brick and mortar retailers face when they try to integrate with their offline store to online. However, the challenges are even bigger and unique when any online retailer looks for offline transition because they posses zero experience in running offline operations.

As the concept of omnichannel is evolving, retailers are still figuring out smooth implementation of different methods of buying including buy online/ click and collect amongst others. Needless to say, the role of technology has become pivotal than ever when it comes to fulfilling omnichannel experience. ShopX is one of the niche names when it comes to delivering cutting edge technologies especially to online retailers when they look to expand offline.indi

How ShopX helps online retailers to go offline?

Virtual Inventory

Being an online brand might be running a huge inventory since you are not supposed to deal with space constraint. In order to replicate the same inventory in the offline space the investments on real estate would be humongous. Moreover, there would be extra cost on stock procurement and stock management that eretailer needs to bear out. To ease such scenario, ShopX offers Virtual Inventory feature which allows less investment per product, rotate working capital faster and better across multiple products. ShopX works as local touch point for small retailers to deliver ‘digital offline’ shopping to kirana stores and mom-and-pop stores in every corner of India.

“Before SHOPX, I was selling small quantity of stationery items in my shop. I had tie-ups with different schools, colleges. I had to buy inventory in bulk and had to invest large amount of money. After partnering with SHOPX, I can now sell products across categories. The best part about SHOPX app is that I do not have to worry about maintaining inventory or invest large sum of money,” informs Prateek Jain who is currently using SHOPX Platform. { As published on the company website)

Local Payment Hub

The concept of Payment Hub is not new; in fact, it has been widely explored by banks and other financial institutions.  However, the term is slightly new in the world of digital commerce.  SHOPX initiated SUVIDHA is the credit marketplace for fueling the digital retail economy in India.  With SHOPX, it is possible to use the demographic and transaction data of retailers to build a “credit profile” indicating the creditworthiness of the retailer. This can then be used by banks and NBFCs to extend loans to retailers and distributors. ShopX also ensure faster loans at competitive interest rates with easy repayment options.

Local Pickup and delivery point

When it comes to last mile fulfillment there is hardly any ecommerce company which has created a proper channel delivery center franchise to any individuals. SHOPX runs a retail operating system, where brands, retailers, and consumers are connected. Its state of the art technology can manage over 5,00,000 transactions per day and powers a deeply integrated supply chain.

 

 

 

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