Offline retailers such as Shoppers Stop, Lifestyle International and Spencer’s Retail plan to sell their products on online marketplaces such as Amazon, Snapdeal, Flipkart and Jabong, in order to ride on the e-commerce wave in the country.
Shoppers Stop launched its e-store with delivery across major cities in India in 2008. Whereas, now it plans to expand its online presence as well by selling through e-commerce marketplaces. In coming future it will be seen selling its private label fashion brands including Stop! and Haute Curry among other labels online. However, it has plans to maintain different products for its online and offline stores. The range of products to be sold online will be entirely different, as reported by Economic Times.
Similarly, Lifestyle and Spencers too are finalising their plans to sell on their own online portals and e-commerce marketplaces. Spencers Retail will also be seen selling products online soon.
Managing director at Lifestyle International, Kabir Lumba said that the company does not plan a separate product line for online or to offer much discounts, pointing out that the Dubai-based Landmark Group firm has maintained its same store growth at double digit pace despite an economic slowdown and increased competition from online players.
A report by Edelweiss said Shoppers Stop doubled the number of its sale days last year to 65-70 as compared to 34 days in the year before, due to early start of seasonal sales to keep up with the discounts offered by online companies. Lifestyle too has increased the number of sale days by 7 days.
Govind Shrikhande, MD at Shoppers Stop said, “It is clear that Indians are adopting to online space faster and this adoption will only grow in the years to come. Also, it is becoming clearer that discounting is going to be the norm of these (e-commerce) guys because they are getting funded and you can’t really face this disruptionists. So, either you join the battle or leave it. You can’t be a bystander anymore.”