The retail industry is currently witnessing a sea of change with new innovations coming emerging like clockwork. Online is the king, offline is carving its way back seeking more relevance while the omnichannel is proving to be the best of both worlds for the cutomers.
The innovation factor played a major role in this change which we have witnessed in the last decade. Powered by the emergence of safe online payments, ability ot present a wider catalog, better offers and relevant suggestions based on purchase history – online retail took no time to leapfrog the established structure of offline retail.
The brick and mortar store took some time to counter balance the effects of online retail. One of the early trends (at the time online shopping was gaining popularity in India) that gathered steam starightaway indicated that that offline would cease to exist to be the most preferred method of shoopping by 2020.