Online-to-offline (O2O) business expansion is being considered as the next big thing in the Indian e-commerce industry. What is O2O business? Why it is accepted by most of e commerce industry leaders as a new marketing strategy? Well, you’re at right place! You will find maximum information here about O2O store along the answers of these questions in this article.
What do Pepperfry, Lenskart, pumpkart and Urbanladder all have in common? Well, they are expanding on the wheels of online-to-offline commerce. In the era of internet, O2O commerce is becoming more popular and a number of e commerce players who have a strong presence in the online space are escalating into the physical market to become stronger and stay competitive. The process of expansion from online to offline is known as O2O (online to offline) business.
What Exactly Does O2O Mean and How It Works?
O2O stands for online-to-offline business. It simply means that a buyer can avail the opportunity to check out the things online as well as in the brick and mortar market. Generally, it is a new marketing strategy that allures customers to buy products online and then get them from an offline market. It means, you can generate business leads or consumers online and take them into physical store to get the look and feel of the purchased product.
O2O Business Is "Online Market + Go To Physical Shop".
The Growth Drivers to O2O Business
The demand for early delivery has resulted in the building of regional distribution centers, which shift into the physical stores and supporting in the fulfillment of online orders with same day pick-up and delivery at the customer’s door. O2O business model is the best business tactic for maximizing the number of sales. The key drivers to O2O business include:
- The reduction in the cost of internet.
- Introduction of social media.
- High number of internet users and many other factors are increasing the importance of O2O business.
Big Players Who are Taking O2O Route
There are several e- commerce companies which are expanding via O2O stores. Pumpkart.com, India’s fastest growing online water pump store is also foraying in the O2O space and has opened its first store in Chandigarh recently. Someone who comes to this store to purchase a pump, he will get a chance to explore numerous options from the industry leaders. Secondly, when a customer purchase something from here, it will arrive at his/her home within a few hours. Even though they need not to pay anything extra for all this. In addition, in some locations, free installation and other related services would be provided to the customers. Like pumpkart.com, there are several other e commerce companies who are ruling the O2O industry and particularly serving in the consumers services and goods segment.
Key Advantages of O2O Business for Customers
- It has the widespread presence.
- It will not restrict you from shopping as you can shop anything from anywhere, anytime.
- You can choose the product according to your needs and preferences.
- It is a very convenient way of shopping
So, it is very important for every e retailer to include or use O2O business model as a key marketing strategy!
