Shopping Malls have started to adopt an ‘Hybrid’ approach of sales to attract customers and boost revenues.
Delhi’s
Select Citywalk mall will soon adopt the Hybrid Model of sales. It is
expected to launch its online storefront via an eCommerce Marketplace
model. Another Bangalore based mall, the Total Mall too has adopted
similar technique. The Hybrid Model of sales allows the customers to
check out various products that the Mall can offer and then later pay a
visit to the place and pick–up the merchandise. Even Future Group’s Big
Bazaar Direct essentially works in a similar manner
What
is a Hybrid Model? Known the world over as the Bricks–N–Clicks Model,
the Hybrid Model is a combined approach to sales that involves both the
Physical Outlets as well as Online Shopping Portals. While Online
Shopping offers the convenience of browsing from the comfort of one’s
computer, the physical outlet offers the benefit of physically
inspecting or feeling the product before making the final purchase.
The
Hybrid Model attempts to combine the benefits of both the models.
However, there is one elemental edge in favor of Online Model and that
is lower overheads which directly translate to lower prices or discounts
for the end–buyer. But, with urban shoppers getting ever more
comfortable shopping online, malls seem to be losing their charm and
hence are eager to explore newer avenues to keep the sales strong.
India
is witnessing a strange phenomenon wherein players from either of the
domain; Physical and Virtual, are keen to set foot into the other’s
territory. While malls like Select Citywalk or Big Bazaar are exploring
online channels, online players like TaxSpanner, Shaadi, etc. are
setting up physical outlets. Is the Hybrid Model truly the answer?
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