Technology-enabled Retail and Consumer Takeaways for the Post Vaccine Arena

By : Vijayendra Gupta , Monica Verma

Page No: 145-151

Abstract
Physical retail stores have switched to online selling after the pandemic. Since 19th March 2020, when a countrywide lockdown was declared by Shri N. Modi, the fear of the COVID19 virus and restrictions resulted in fewer consumers stepping out of their homes. Consumers have started shopping online and retailers have started buying & selling online. The order volume for unicommerce, ecommerce have increased by 31% in second quarter in year – on – year (e-commerce SaaS platform). Technological innovations are driving retail forward quickly, and retailers who can’t keep pace face risk of losing ground — both to online contenders and to physical stores that are making their own investments in digital transformations. (Text from: https://biztechmagazine.com/ resources/white-paper/technology-boost-retail-productivity). This study draws attention to some neglected strands of productivity of the retail sector. Through qualitative research, it will provide useful insights into productivity strategies that could allow productivity enhancements in the area of Digital Services Marketing. Digitalfirst and omnichannel retailers were able to transition more easily, but retailers that prioritized physical stores and face-to-face engagement over omnichannel strategies have struggled to respond. The study covers various aspects of e-commerce, but the focus will be on gathering qualitative insights from market participants on such trends, practices, and issues, which are relevant to the online retailing business of the existing physical and online retailers. The authors will describe productivity of the retail sector as a service. They will identify and describe exemplary anecdotes, with supportive data to describe how productivity of the retail business in India has increased because of the boost by technological advancement, and also suggest some strategies for global retailers.

Authors :
Vijayendra Gupta
Assistant Professor, Marwadi University, Rajkot.

Monica Verma
Associate Professor, Marwadi University, Rajkot.
 

DOI: https://doi.org/10.32381/PROD.2021.62.02.5