Our target for this year is to open at least another 10-12 stores pan-India: Srinivasa Rao
In conversation with Srinivasa Rao, CMO, Lifestyle, who talks about how technology has changed the face of retail in India.
Tags: Lifestyle, Apparel brand, Indian retail industry, Technology, eCommerce, Online shopping, Omnichannel, phygital marketing, Semi closed Loop, SCLP, Gift Card Program, Max, Homecentre, Indian retailBY Shwetha Satyanarayan | April 28, 2018 | comments ( 0 ) |
Online or offline- customer is the king and who better than Lifestyle understands this. As technology evolves, so have the customer expectations. And the onus is always on the brand to meet the rising expectations and provide convenience to customers, says Srinivasa Rao, CMO, Lifestyle, in a quick chat with Indian Retailer.
How has technology changed the face of retail in India?
Technology in retail is gradually evolving in India and many brands now understand the importance of investing in good technology. Whether it’s online or offline, a customer’s choice is of supreme importance and technology is helping solve newer problems and increase the standards of delivering to a customer. For instance, we have introduced the click and collect option in a bid to create a seamless, omni-channel experience. Technology is ensuring there are new convenience options and that is the whole purpose of it.
How is technology changing customer expectations in this phygital era?
As technology evolves, new norms are setting in the business every new day and technology is helping meet them. Whether a retailer understands it or not, he is forced to invest in new technologies because the customer expects a brand to provide certain experiences. The onus on the brand is to use latest technology and stay updated.
What new technology is Lifestyle looking to adopt?
We will soon launch Semi-closed Loop (SCLP) Gift Card Program for Lifestyle. The SCLP will provide consumers a seamless omni-channel experience by providing a single card that can work across both offline and online channels. This program powers an all new gift card in three variants – Lifestyle, Max & Homecentre – which can be cross-redeemed across any of the 3 brands at any of the 300+ physical redemption points and the online stores as well.
What are your other expansion plans?
We will continue to open more stores across tier II and tier III cities and our target for this year is to open at least another 10-12 stores pan-India. Apart from this, our focus will remain to continue on our double digit growth.
Will Lifestyle be launching any new labels this year?
No, there will be no new brand launches or addition of new labels. But we are looking at sharper price points to stay afloat in the competition in the market.