Positive Corona Effect: Traditional Retailers Embracing O2O Business Strategies Becomes an Industry Accord

While the pandemic has slowed down the consumer demands and higher costs of physical expansions, it is inevitable for the smaller retailers to move beyond their traditional thresholds. They now have to extend their businesses to a new level to avoid further declining performance. The retailers can do so by adopting comprehensive O2O business strategies. Moving from offline-to-online (O2O) platforms is growing in India. With digitalization, implementation of O2O business strategies and the concept of business innovation have gained traction; collaboration among the enterprises has also become notable in the commercial sector.

According to experts, they foresee the interaction between Online and Offline enterprises becoming one of the most active fundamental developments. At the same time, new business models that are technology-oriented will emerge and will have a huge impact on the market. While the transformation and testing of new formats by smaller retailers will increase as well as profound changes in the retail landscape will come forth along with new O2O business models.

Facing the economic slowdown, the small retail stores have witnessed a trend for store closures especially in tier 1 and tier 2 cities. Many leading traditional retailers suffered from poor performances during the pandemic. This difficult market situation has and will surely continue to exert pressure on retailers. Well, to stay competitive, many retailers are now embracing, upgrading, and exploring new business opportunities.

Create your online store with O2O

 Benefits of O2O Business

  1.         24x7 Availability

  2.         Low startup cost

  3.         Sell Locally

  4.         Sell Globally

  5.         Quick Payment

  6.         Logistics Support

Through the innovative platform like O2O, offline retailers can easily and efficiently create their own online stores and take orders. Marketing for the O2O platform is done through Social Media platforms like Facebook, Whatsapp, and more. The emergence of new businesses has also forced the platform like O2O to innovate. There have also been challenges in managing the supply chain and logistics. The Industry stakeholders expressed that the pandemic could forever change the way small businesses do business with the help of O2O business platforms. 

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