Friday, 14 March 2014

Malls Starting To Adopt 'Hybrid' Approach To Boost Sales



Shopping Malls have started to adopt an ‘Hybrid’ approach of sales to attract customers and boost revenues.
Bricks_Clicks_2
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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