Boosting Potential on Omni Channel Retail Business Strategies through Digital Hub in India
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Abstract: Omni Channel collaborative mechanism currently perceived by numerous retailers as enabling means to race in the marketplace more scrupulously and realistically. This paper discusses the theoretical framework on how omni-channel retail supply chain networks can be configured in terms of information, inventories, and logistics resources, which achieve both cost effectiveness for the seller and receptive to customer requirements. This requires an effective utilizing channel that are tailor made to fulfil the requirement of delivering customer-based product or service requirement by customizing to the attributes of the customer. To be lucrative, a firm must focus on price and service conscious towards customers who use different channels to purchase and analyse demand vagueness, complexity of sale of product. The online channel can be used to offer assortment and serve erratic needs at low cost. The physical channel can operate as an outlet and spontaneous spot for the online channel to improve customer service and diminish cost. This study exposes the physical and digital facilities of the retailer who can potentially compete the market by serving the customers’ needs through omni channel and strategies for success. The outcomes can assist and activate better understanding of omni channel retail business approaches.
Keywords: Omni Channel Retailing, Digital Retail, Supply Chain, Competitive Strategies, Customer Experiences
JEL Classification Number: M31
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