Integrating e-commerce into traditional retail strategies essential: Shopclues

Shopclues is an online marketplace that strives to provide a convenient and hassle-free shopping experience by offering a wide range of products across various categories.

Anuraag Gambhir, Managing Director, Shopclues, tells us more. Excerpts from an interview: 

DQ: What key trends do you notice in the online marketplace and e-commerce sector? 

Anuraag Gambhir: E-commerce in India began to boom around 2010 and continues to grow rapidly. The industry is expected to reach $325 billion by 2030. Initially, many brands were hesitant to join, but now e-commerce is a major distribution channel for most. 

There's also a notable rise in online shopping in Tier 2 and Tier 3 cities, expanding the customer base and requiring localized content and services. Additionally, digital payments, boosted by UPI and digital wallets, are promoting cashless transactions and making online shopping more convenient for Indian consumers.

DQ: How are these trends influencing the retail landscape?

Anuraag Gambhir: E-commerce trends have had a significant impact on the retail landscape, especially in the recent years. The rise of online shopping has transformed the way consumers interact with businesses, making it important for retailers to have a strong online presence. This trend has led to the growth of digital marketing, the need for efficient supply chain management, and an increased focus on customer experience both online and in physical stores. 

Integrating e-commerce into traditional retail strategies has become essential for many businesses in order to stay in the business and also stay connected with their customers.

DQ: In what ways do you envision AI changing the e-commerce industry, and which creative AI solutions are driving the business expansion?

Anuraag Gambhir: AI has become a major topic of discussion, especially in the past year. When used correctly, AI can solve business problems and improve efficiency. It can assist with tasks such as product sales forecasting, content management, research, real-time updates, translations, cataloging, and data analysis among many other things. 

By leveraging company data, AI enables businesses to better understand and target their audience. Additionally, chatbots enhance customer service by addressing inquiries, processing returns, and handling exchange requests, ensuring no customer needs are overlooked.

DQ: What sets Shopclues apart from other companies in the market?

Anuraag Gambhir: Shopclues was launched in 2011 with a focus on providing value-centric offers for Tier 2 and Tier 3 cities, aiming to reach even the most remote locations. 

After being acquired by Singapore-based e-commerce company, Qoo10 in 2019, we expanded our focus to include a broader international customer base. Our goal is to take Indian brands global and capitalize on the growing potential of e-commerce exports over the next 5-6 years. What sets us apart is our commitment to promoting Indian brands worldwide by directly shipping products to specified countries.

DQ: Which new technologies or innovations do you foresee as game-changers in transforming the online marketplace ecosystem?

Anuraag Gambhir: Smart phones and social media have been the major game changers. AR and VR technologies have the potential to revolutionize the way customers experience and interact with products online. 

There is also blockchain technology offers secure, transparent, and decentralized online transactions, which can help build trust among online buyers and sellers. Implementing blockchain in e-commerce can streamline payment processes, reduce fraud, and enhance data security in the online marketplace ecosystem. 

There is also AI-driven hyper-personalization tools that analyze customer data in real-time can provide highly tailored shopping experiences. IoT devices are increasingly being integrated into the e-commerce ecosystem, allowing for smart reordering of products, automated inventory management, and personalized shopping experiences based on user behavior. 

However, between 2025-2030, there is going to be the time for ecommerce export. Brands will cater to understand global demand and Indian brands that wish to expand to the global market. Shopclues is also focusing on ecommerce exports and take over the market accordingly.