Arvind Internet, the e-commerce arm of apparel company Arvind Ltd. is building data based technology platform which analyses customer needs across areas and sell appropriately.
The internet division of textile giant Arvind being led by Mukul Bafana, CEO of Arvind Internet who was earlier the former co-founder of e-commerce firm, Jabong points out that consumers portray different buying pattern across online and offline. He believes that the increasing usage of smartphones by consumers have led to different buying patterns.
Today, e-commerce companies analyse end consumers by few parameters like age, gender and purchasing power. Bafana believes their tools will help segment consumers by real time analytics. “We see reasons why a customer is buying a particular apparel, where is he buying from and what he wishes to buy. Accordingly, we can send notifications about products to our end customers.”
He points out companies need to implement omni channel personalization engine. “End consumers might look at a 10k worth shirt on social media and not buy it. But when the same consumer visits a branded store where the same shirt is displayed, he/she might try it. The chances of the consumer buying it increases,” says Bafana.
But Bafana also admits that e-commerce and single brand retailers should think twice before adopting any technology platform. He says that many organizations adopt any new technology fad that comes out in the industry and implements it without thinking how it will come impact the consumer. “Just because a certain technology is being talked about a lot, it should not mean one should buy it. Firms should look at customer needs and then decide to buy any new technology platform.”