(MENAFN- KNN India) New Delhi, May 10 (KNN) India's retail market is expected to surpass USD 2.2 trillion by 2030, with around 90 per cent of sales occurring through offline channels, according to a new report by Accel, Fireside Ventures, and Redseer Strategy Consultants.
However, the report "Decoding Omnichannel: Strategies for D2C Brands" finds that a large portion of purchases will still be influenced by what consumers see online.
The rise of successful omnichannel startups like Cult, Urban Company, Curefoods, Homelane, and Lenskart highlights the shifting consumer behavior towards an integrated online and offline shopping experience. Consumers are traversing different channels throughout the purchase journey.
"The Indian omnichannel approach bridges trust and convenience barriers by combining traditional values with modern conveniences," said Prashanth Prakash, partner at Accel. He cites Agrostar, which delivers an omnichannel experience to rural farmers through online ordering and in-store pickups.
The report indicates digital-first brands are well-positioned to lead omnichannel strategies across categories by leveraging product innovation, data-driven marketing, and tech capabilities to scale efficiently across offline channels.
Kanwaljit Singh of Fireside Ventures noted brands are employing different omnichannel formulas, like Sweet Karam Coffee using quick-commerce for discovery and boAt driving e-commerce bestsellers. "Consumer brands should be omniprepared for omnichannel," he advised.
Redseer's Anil Kumar tracked the journey of Indian brands establishing online channels and now evolving to serve consumers wherever they are.
He cited Mamaearth, which drives significant revenue from offline retail after starting as a D2C brand. "Brands will have unique omnichannel journeys based on product category and consumer maturity," Kumar said.
(KNN Bureau)
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