Source: The Economic Times India
NEW DELHI: Kishore Biyani, chief executive of the Future Group, Thursday said that traditional offline retailing and web commerce are not as distinct as they once were, with the odds shortening that the two channels to reach end consumers would head toward total convergence in the near future.”Physical stores have their own advantages and nuances and digital has its own advantages,” Biyani said in New Delhi at a conference organized by Amazon. “Both have come in different eras and in another 3-4 years, it will become phygital,” referring to a retailing term visualises merger the two formats. “It has happened in the (other parts of the) world and it will happen faster in India.”Biyani is one of India’s most successful retailing pioneers, and is often credited with bringing organized retailing to a country serviced by millions of mom-and-pop kirana, or neighbourhood, stores. His web commerce ventures have been more circumspect, however.Now, Biyani is partnering with Amazon to expand his omnichannel business.