We often feel in such a way that the term Retail is so generalized, which frequently demand a specific sub-expression to grasp its actual essence. It implies that there is a wide range of sub-niches included within the retail business realm. In fact, the retail scene is crowded with business possibilities, and anyone can embrace and make the best out of it if only they know what it takes to run a retail business digitally. Through this article we ought to deliver some effective aspects that might help you set up an efficient retail application, for a web/mobile app is an inevitable standard when it comes to any digital retail business.

Retail Industry- Crucial Stats and Figures

Before taking a stand one should be well aware of the global retail scenario and how it behaves. Here we discuss the current status and progress in the field of retail. However, we hope this will help you frame the right strategies and approaches for your upcoming retail venture.

  • India is supposed to be the world’s fastest growing e-commerce market, due to robust investment in the sector and rapid increase in the number of internet users.
  • Indian retail economy is predicted to increase by 60% to reach an astounding US$ 1.1 trillion by 2020.
  • The online retail scenario is expected to surpass the physical stores in the next five years; for it has grown 23 per cent to reach $17.8 billion in 2017.
  • Google and Paypal have taken initiatives to acquire 7-10 per cent stake in Future Retail with an investment of Rs 3,500-4,000 crore.
  • Investments by private equity firms and wealth firms in Indian retail sector accounted for US$ 800 million in 2017.
  • Indian retail sector managed to get  Rs 9.5 billion (US$ 147.40 million) investments in the year 2018.

5 Mandatory Features to be Incorporated with a Retail Application

From the perspective of mobile application developers, app development is a very sophisticated process and requires great attention and dedication. In fact, it involves a multitude of guidelines and standards defined to be followed strictly. Check out the important features and attributes you need to integrate with your app.

Cross-channel Support- To Boost Traffic and Conversions

As the conception of digital becomes reality, we’ve been offered multiple choices in terms of both devices and display units as well. Let us make this clear; Imagine that a user took a quick look at your product through his/her smartphone. Further, the same user may use a desktop for more detailed and handy research. And guess what! This can go really far if she/she complete the purchase through some other device, for instance, an office laptop or a tablet.

However, the point is, with access to multiple devices and diverse computing technologies, the sales funnel is getting more lengthier. And this is why we suggest retailers be present everywhere and serve their users’ needs across diverse channels. Most importantly, you need to build your app in a way it behaves responsively across various devices and display units.

Digital In-store Integration- For Streamlined Supply Management

In pursuit of building an efficient retail application, you cannot neglect the significance of proper inventory management and aligning the physical stock with the virtual selling machinery. Remember, your customers are the most valuable resource you have and because of that case, you cannot afford to lose their trust. For instance, if only you are not managing your inventory well, ie, as long as your virtual inventory does n’t make sense with the physical availability of the products, you will never be able to ensure the user satisfaction.

By implementing in-store integration effectively, one can rationalize the supply management scenario, also, ensure quick and efficient deployment and delivery of the ordered items. Further, you can implement cross-selling mechanism and elevate your possibilities of conversions.

Rewards and Incentives- To Facilitate Customer Loyalty and Engagement

Sometimes providing the same service as other service providers is not enough to attract customers, isn’t it? In fact, why would they approach your app if you are the same as everyone? The question actually is, what more you can offer? What value do I get extra if I choose you? This is why we believe that an incentive strategy is powerful. By rendering irresistible rewards and incentives or by shaping an excelling loyalty incentive program, you can ascend the customer engagement.

So, what is the kind of rewards that your customers would like? Sorry, there is no particular solution for this query. There are only choices from which you can find the right strategy that your customers would love to be involved with. For example, you can offer gamified incentives or to ensure more productive engagement, you can introduce redeemable points and allow users to get those on completion of certain tasks.

Simplified Checkout and Secure Payment Integration- For Transcending User Credibility and Experience

In regards of payment, there is no way one could settle with a substandard solution; for money implies the most admiring factor in any business. Also, it is completely absurd to complicate the check out process. Users admire simple and easy checkout because their prime concern and intention at this point are to finish the task they are performing, which is to purchase a particular product.

Moreover, one should be generous and brilliant enough to include multiple payment gateways. Also, he/she must make sure the same are reliable and are ideal for your business model. Payment gateways such as Paypal, Stripe etc are well-renowned and are considered the best choices for millennial digital businesses.

Location Feature- For Guaranteed Accuracy and Relevance

Why data regarding the user is so crucial? And What benefits it drive to your business? In this millennial era, businesses are trying their best to gather every possible information about their users. Among all kind of data they receive, location information of a user is the most admired because, with this data, businesses can better understand, plan, strategize and deliver the best solution that meets the user expectations to its fullest.

Agriya’s Premium Mobile App Development Solutions for Enhanced Growth Potential

Want to build an all-encompassing retail mobile app? Employ Agriya’s future-focused mobile app development services to bring forth the best out of your ideas. Known as one of the most renowned Android App Development Company in India, Agriya has so far deployed 10000+ web&app solutions for clients from all around the globe. And since they follow an excellent milestone-based development strategy, efficiency and performance stability of the platform will be guaranteed at each and every stage of the process. Explore our website for more details.