An Optimized Technique to Foster Omnichannel Retail Experience Leveraging Key Technology Dimensions in the Context of an Emerging Digital Market

Abstract

Customers’ approach towards shopping has transformed, as a result of their reduced tolerance, increased technology usage and being well informed than ever before. As customers expect a seamless shopping experience regardless of where they are engaged within a retailer’s network, the line between physical and digital retailing is blurring. Retailers across the world are contemplating on transforming into Omnichannel hubs to deliver an elevated experience anytime anywhere. And, experts have often indicated that an Omnichannel strategy delivers a unified shopping experience than a mere channel experience. However, the true Omnichannel experience is still not evident in India with minimal action in this space, indicating a subverted outlook towards building necessary Omnichannel Capabilities. This paper examines the most essential and significant technology dimensions that are imperative towards fostering a seamless Omnichannel Retail Experience. The findings of this study serve as a basis for retailers in India to evaluate their strategies towards adopting these technology dimensions and respective capabilities, using an optimized approach. The study employed a quantitative research involving survey of executives from major retailers in India. The quantitative data was analyzed applying Structural Equation Modeling, to ascertain the technology dimensions that emerged and their significance in deriving Omnichannel Retail Experience.