10 July 2023, Mumbai
India's Retail Sector Thrives; India's retail market is on an upward trajectory, projected to reach a value of $1.1-1.3 trillion by 2025, owing to factors such as urbanization, income growth, and changing family structures.
Phygital is the way forward
Despite fierce competition from e-commerce, offline retail sales continue to thrive, thanks to the evolution of phygital strategies that blend physical and digital elements. Mobile apps have become a catalyst for this transformation, empowering consumers to browse, compare, and purchase products seamlessly.
COVID-19 a fundamental tailwind
Moreover, the pandemic accelerated the adoption of online shopping, leading to the emergence of the phygital hybrid model that combines the best of both worlds.
Physical stores now leverage omnichannel strategies, integrating technology to enhance customer experiences.
New Normal
This paradigm shift offers unique advantages to physical retailers, prompting online-only brands to establish a physical presence.
With a careful balance between digital convenience and physical immersion, the Indian retail sector embraces growth, excellence, and a bright future for both retailers and consumers.
