Octane Marketing celebrates ReTechCon (Retail Technology Conclave), organized by Retailers Association of India (RAI) by releasing the fourth Annual Retail e-Marketing Research.
With an ardent participation from more than 105+ Retailers and 95+ companies across India, this industry study encapsulates the present state of digital Retail Marketing in India and aspirations for 2016.
2016 India Retail e-Marketing Study: A Path to revolution explores how marketing budgets and technology investment priorities are changing as retailers continue to develop more targeted and personalized digital experiences across channels. The research also explores how mobile is emerging as the nexus for omni-channel retail initiatives.
Kumar Rajagopalan, CEO of RAI, commented, "Retail is one of the few sectors in India which has been showing promising signs of digital innovation. One of the key driving factors being the new and evolving digitally savvy consumers."
Octane Marketing Director and Co-Founder, Punit Modhgil, underscored this point, "Retailers will have rethink shopper loyalty to create reasons for shoppers to come to their stores. And this is where digital marketing is helping to create sustained engagement with like-minded consumers who either buy online or find a reason to visit a retail store. In addition, it helps generate qualified leads and is equipped with smart analytics that helps retailers track the ROI of their digital investments."
Some of the key findings of this 2016 report are consists of primary marketing goal of 2016 where customer acquisition has been observed to be the central priority of India retailers (51 percent), for fourth year in a row.
Focus on online and offline marketing where 44 percent retailers showed keen interest in implementing an equal mix of online and offline marketing activities. However, with digital being the new currency in the industry, online presence has ranked first on their priority list.
Importance of Email Marketing where 85 percent retailers agreed that email marketing gives them better consumer engagement and is important for them.
Importance of Mobile in Marketing Plan where 94 percent retailers have embraced mobile as a part of their marketing strategy.
Cart Abandonment Program (CAP) where this new initiative witnessed implementation by 3x more retailers over the past year. The numbers highlight the importance of such strategies to lower cart abandonment rates and improve conversion of online carts to orders.
With a rapidly growing internet penetration, online retailing in India is expected to reach USD 1.7 billion as per industry estimates, at a CAGR of 10 percent by 2017. RAI and Octane Marketing's research seeks to give insights into how retailers in India can leverage this growth.
