A study undertaken by Capillary Technologies, Asia's leading SaaS company in retail, has unveiled some interesting insights on the change in traffic, consumer loyalty, and purchasing power across fashion & apparel, footwear and jewellery in offline stores. This study and its findings are a result of the data collected during OND 2019, in comparison with OND 2018, by Capillary Technologies from 62,000 consumers across stores in India.
Key findings of the study:
Consumer traffic: Has offline retail retained its charm?
In fashion and apparel, while shoppers have shown a preference for ethnic brands over western fashion brands, the results of the study also show that the consumer conversions have come down.
Increase in purchasing power among consumers
Consumer loyalty, a major let down for brands this season
Speaking about the trends seen this festive season, Aneesh Reddy, CEO and Co-Founder, Capillary Technologies said, "The 2019 Festive Shopping study breaks the supposition that offline businesses are reporting lesser traffic in the age of e-commerce. The study highlights the preference of customers to shop offline during the festival season, particularly in categories such as jewellery and ethnic wear. However, the key takeaway from this study for retail brands is to strengthen their consumer loyalty programs and prioritize consumer retention.
Competition these days has increased, leaving shoppers spoilt for choice. By adopting the latest technology innovation, retail brands can offer personalized service to their consumers, which will not just aid in customer retention but also go a long way in ensuring repeat purchase."