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Fashion retailer Shoppers Stop is eyeing 15 percent revenue through its digital touch points by 2020, and plans to invest Rs 60 crore over the next three years to boost its omni-channel strategy, a top executive has said.
"We plan to invest approximately Rs 60 crore in our omni-channel efforts over the next three years, and target 15 percent revenues through the digital medium by 2020," Shoppers Stop Managing Director Govind Shrikhande said.
The retailer plans to be present across channels, including physical stores, web, television and online marketplaces.
Over the next three years, the retail chain will extend its omni-channel strategy to group companies - HomeStop, Hypercity and Crossword, he added. Shrikhande detailed a three-pronged strategy to be followed by the company over the next few years. "We will focus on our omni-channel shift.
Secondly, we will boost the First Citizen loyalty programme, and are also strengthening exclusive brands, and private brands," Shrikhande said.
Shoppers Stop has exclusive brand tie-ups with cricketer Virat Kohli's 'Wrogn', 'Desigual', and will launch few more brands this year, including Sonam Kapoor and Rhea Kapoor's brand, 'Rheason'.
"We expect to grow the sales of exclusive clothing brands from 2 percent to 10 percent. For our private labels or brands, we expect sales to grow from 15 percent to over 25 percent," he said.
The retailer has 72 stores operational currently and will expand to about 90 stores in the next three years across the country, Shrikhande said, adding that omni-channel will give Shoppers Stop access to over 8000 pin codes in India.
In the second phase of the company's omni-channel journey, it plans to invest in warehouse management systems to strengthen its supply chain, and subsequently in master data management.
In a move to provide a seamless shopping experience to customers, Shoppers Stop on Friday announced a tie-up with commerce platform provider 'Hybris' software, which is a SAP company.
The Hybris software will enable the retailer to deliver a real-time, impactful and relevant customer experience 'across touch points, channels and devices', it said.
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