Raymond plans to go omni-channel

Textile major Raymond now wants to attract younger customers through the digital medium. This is a strategy where consumers can shop online or at the store and get it delivered at home. To go to a Tier IV or V markets, the only way out is to set up a physical store. But today, because of online, a physical store can be done away with. Rising sales logged by e-commerce players in general have made Raymond think hard in terms of adding stores. The company sees a wide opportunity in existing markets. With the expansion and opening of new malls it will continue to expand in those wide spaces.

Raymond today has 1,050 stores in India. Last year, it rolled out 70 outlets across its various brands. This year the brand will roll out close to 100 outlets. With a strong retail presence, the company would have a competitive advantage as it unveils its omni-channel strategy. The challenge is how to link the large number of stores digitally and present them in one platform. Raymond’s customer base is largely 30 years and above. However, a huge number of customers who shop online are below 30 years.