Textile major Raymond Ltd plans to come out with its omni-channel strategy within a year to scale up its digital business and woo younger customers, a top executive said today.
The company which is into fabrics and branded apparel, is facing no competition from e-commerce players, Mohit Dhanjal, Director Retail, Raymond Ltd said.
“For Raymond, the customer base is largely 30 years and above. Huge number of customers who shop online are below 30 years (of age). I don’t see any competition,” he said told PTI.
Today a customer looks at his/her convenience and wants to shop at anytime and lot of online shopping happens after 9 pm, when no “physical stores” are open, Dhanjal said that “if he (customer) wants Raymond products, he should also find it online”.
“So, we are definitely looking at omni-channel strategy where a consumer can shop online or shop at the store and get it delivered at his home. It could be anywhere…you could shop anywhere, and pick from anywhere”, he said.
Elaborating on the plans he further said “..if you don’t find something in the shop, you can place an order online” and company plans to roll out in one year.
Besides, the strategy would help the company to connect with younger customers, he said adding that “if younger customer is going in that space, and if you are present and visible, you have a great opportunity to connect with them.”
He said rising sales logged by e-commerce players in general has made the Raymond “think hard” in terms of adding stores.
“If I want to go to tier-IV or tier-V market, the only way is…to set up a physical store. But today, because of online, I need not to set up physical store,” he said.
He further said that the company sees wide space opportunity in existing markets with their expansion and opening of new malls it will continue to expand in those wide spaces.
Raymond today has 1,050 stores in India.
“Last year, we rolled out 70 outlets across our various brands. This year we will roll out close to 100 outlets,” Dhanjal said.
With strong retail presence, he said the company would have competitive advantage as it unveils its omni-channel strategy.
“The challenge for is how do we link these (large number of) stores digitally and present them in one platform. So, that’s what we are working on”.