Role Of Omnichannel Model In Food Retail & Importance Of Being Phygital
In the food retail system, the experience is everything and due attention needs to be given for ‘physical’ authenticity (driven by customer experience) along with ‘digital’ authenticity
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Today, despite the technology has become an integral part of our life, with the IT evolution bringing automation; retailers are still unable to ascertain the modus operandi to adopt them and realize significant benefits. Many brick-and-mortar retailers will have to reinvent their physical spaces and go digital to be able to tap into the new customer segment in the digital world. E-commerce players and digital technologies are enticing retailers with the promise of a better experience where customers are told that their life could be simplified by ‘one-touch’ or one simple download. So naturally, the expectations are high.
But despite tech-drivers like MI, IoT, blockchain, cryptocurrency etc. all acting as catalysts in the system, large players in the segment are still experiencing the phenomenon of hit or miss, which means that they are yet to find the right success formula.
In the dynamic space of e-commerce, what misses the eye, is that the key driver of success evidently lies elsewhere. It lies in the robust, complex, well- planned backwards integration of the supply chain, essentially the backbone of the retail system. Phygital is the way to go. That is, when the entire omnichannel retail supply chain evolves to be available on the physical platform and have a strong digital presence.
In the food retail system, the experience is everything and due attention needs to be given for ‘physical’ authenticity (driven by customer experience) along with ‘digital’ authenticity. This entails a paradigm shift in the operational culture where supplier collaboration will get enhanced.
The ‘phygital’ perspective of the omnichannel supply chain is imperative to drive the omnichannel promise of convenience, customer freedom, and most importantly, the assured immersive experience. If food retail needs to experience success, then brands will need to adopt the Phygital approach to realise the true potential that omnichannel is where success lies.
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