Shoppers Stop Ltd, one of India’s leading retailers of fashion and beauty brands, is collaborating with Accenture to accelerate its digital commerce transformation across multiple retail channels.
The program aims to enhance customer experience and profitability, as well as support Shoppers Stop’s goal of being the go-to digital destination for customers through constant innovation.
Venu Nair, Managing Director, and Chief Executive Officer, Shoppers Stop said, “Omnichannel commerce has been a huge focus area for us as we seek to meet and exceed our customers’ evolving needs and expectations. By collaborating with Accenture, we want to further strengthen our digital commerce strategy for greater reach and access and also improve the overall shopping experience of our customers. We aim to achieve significant profitable growth in our digital commerce revenues over the next three years.”
Since the second half of 2020, Shoppers Stop has embarked on a transformation of its omnichannel growth strategy. With Accenture’s help, the company is strengthening its digital platform, powered by real-time data and analytics across the value chain – from customer experience and supply chain operations through to sales and last-mile delivery.
Providing a single view of customer and market insights for faster and informed decision-making, the platform optimizes customer targeting and contextual marketing with the goal of improving customer satisfaction and revenue. Further, the advanced user interface and user experience are enabling Shoppers Stop customers with a seamless experience across the “browse, search, order, and return” stages of the shopping lifecycle, helping bridge the gap between physical and digital touchpoints.
Sameer Amte, Managing Director at Accenture, who leads its retail practice in India, said, “The retail industry needs to constantly reset so it can stay relevant in the face of changing shopper expectations, and create experiences that engage and delight. This scalable digital commerce transformation program will help Shoppers Stop respond to emerging customer needs and realize new marketplace opportunities while delivering a superior customer experience. We are combining our deep retail experience with diverse capabilities across strategy, analytics, technology, and digital marketing to help the company drive its omnichannel strategy.”
Shoppers Stop has been transitioning from being a brick-and-mortar to an omnichannel retailer, empowering customers with its digital initiatives to ensure a seamless shopping experience. Customers can shop safely, and at their convenience through WhatsApp, its website and application. During the first phase of the lockdown, Shoppers Stop unveiled the White Glove Service for remote assistance and sales. With this service and Endless Aisle, customers can shop easily from home. The brand has invested in meticulously training its personal shoppers and beauty advisors to ensure an engaging customer relationship over WhatsApp.
According to findings of a global survey from Accenture, the dramatic rise in e-commerce driven by the COVID-19 pandemic is likely to remain or accelerate further. For instance, the proportion of online purchases for products such as fashion, home décor, and luxury goods by previously infrequent e-commerce users has increased 667 percent since the outbreak in India.
Salty has successfully raised Rs 5.4 crore in a recent funding round, securing support from marquee investors: Anicut Capital, All in Capital, Suashish Diamonds, JK Group, and other investors.
Founded with a vision to redefine fashion jewelry, Salty has rapidly become a beacon of style, resonating with consumers seeking distinctive and expressive accessories. This recent funding milestone not only highlights the brand's growing popularity but also signifies a new chapter in Salty's journey. The funds will be strategically used to foster team expansion and launch a new product range, as the brand continues its mission to provide high-quality and affordable fashion accessories to consumers.
"We are thrilled to have such experienced consumer space investors as partners. Their support speaks volumes about the potential that is there in this space and we are excited about the opportunities that lie ahead. This is not just a financial milestone; it's a testament to the hard work of our team and the unwavering support of our community. We aim to achieve 40 crore annual revenue run rate in 2024 and expand our design range to include over 3000 products,” said Kanishka Garg, Twishaa Gupta, and Sonaal Goel, Co-Founders of Salty.
“We are excited to back Salty's vision of bringing high-quality and affordable accessories to Indian consumers. Salty has shown exceptional efficiency in its one-year journey. We believe that Salty has the potential to become a key player in the e-commerce and jewelry space. We look forward to collaborating closely with the Salty team to achieve their ambitious goals and contribute to their continued success," said Ajay Anand, Partner, Anicut Capital.
Ashish Goenka of the Suashish Group mentioned, "We were impressed by the team and think that this venture is aligned with the emergence of fashion accessories as a category today's generation is in tune with. The team has come up with unique designs which demonstrate that they have a pulse on what younger generations want."
With over a year under its belt, Salty has become one of India's fastest-growing accessories brands, having fulfilled more than one lakh orders. The brand's encouraging history is demonstrated by its approval into the Startup India Seed Fund program and a community of 100K followers on Instagram.
Salty is poised to strategically deploy the raised capital to fuel several key initiatives. These include recruiting for key positions, expanding channels, and fortifying the brand's digital presence with the release of an App, propelling them towards the ambitious milestone of becoming a 100-crore company in the next few years.
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