Imagine a shopping experience where you just enter the store, pick up what you want and simply walk out. Yes, you read it right! No lines, no checkouts, no payments just walk in, grab and go! Welcome to the world of Phygital.4 years ago when e-commerce giant Amazon launched it's first ’Amazon Go’ store, it redefined the entire Customer’s shopping experience. With their ’Just walk out technology’ Amazon Go became the first store of its kind where no checkout is required. The Amazon Go app allowed the customers to enter the store, browse through its products and then leave. What bliss for people on the go!Defining Phygital
- The marriage between the usages of intelligent technology to boost customer’s shopping experience is the new norm today
- It is an ecosystem where both physical and digital co-exists.
which has a direct impact on revenue generation and business growthImportance of Phygital in business growth
With technology and innovation taking center stage of every business, companies now have become more focused on giving its consumers a world-class shopping experience be it in physical store or in the digital domain. In an age where time is money, a consumer needs the holistic experience of both the worlds (digital + physical) before buying a product.In retail, through Phygital a customer can experience the following things:-
- look and feel the product
- Browse through a plethora of options
- Take feedback
- Enjoy easy transactions through mobile point of sale units
- Guided layout to add value to overall shopping experience
- Virtual add-ons
- No need to stand in queues
The Way ForwardTaking a cue from the retail giant Amazon, back home in India, Dmart also followed suit. In its new store format, customers can place their order online or through the app. They can then collect their purchases from the DMart Ready stores, or have it home-delivered for an additional charge. Clearly, the idea behind the new format is to provide shopping convenience to customers and to tap into the e-commerce category as well.Small business in tier2 and tier3 cities should focus on the smooth transformation of their stores/shops into new age customer engagement hubs. Tip:
- A small businessman can create a basic website or app, through which he can accept orders online from customers and customers, can pick up their order from the nearest physical store without having to wait or stand in the queue.
- Small businesses should look for the collaboration with online giants like Flipkart, Snapdeal to open their physical stores and target offline customers for their business growth.
- In Phygital, physical comfort meets digital convenience
- Speed meets personalization