O2O stands for online to offline and offline to online. It is a business strategy that appeals potential clienteles from online channels to physical provisions. This is a new world of local deals, where marketers are trying to drive people online to buy offline.
According to an estimate, the Indian O2O commerce is estimated at $65 billion approximately with various platforms competing in it. China, US and India, together account for over 70% of the global investment in this sector. While online shoppers are just around 20 million ( contributing to 5% of total retail sales), there are a little over 200 million smartphones in the country, which also means that the retailers have a chance to explore and capture the new user base. Offline is still the king. O2O companies emphasise that they are an 'app first' and in some cases 'app only' experience and intend to make more efficient use of existing infrastructure and people.
The hyperlocal deals delivered through an app play a key role to an extent that some services (e.g. Perishable) are more suited to O2O market. A startup reached out to VAYUZ to create a unique solution to tap this enormous market potential.
3rd Party API Integration
The solution is to create a mobile app where the Customers are able to get the best out of it, with an internet connection and a few clicks, to locate the nearby spots for the eatery, travel or fashion etc. The companies offer huge discounts, deals to lure people. It becomes very easy for the users to choose what they desire and then buy it from a physical store.
For the retailers, it means more customers coming in and increasing their sales. More so, it also enables them to connect with their customers on a more personal level, send lucrative deals which are just customized for them. The app offers proximity marketing and collects data on what the users are searching, what they are liking, what are their preferences and according to that, retailers get the right information to target the customers.
The stores and customers both are benefited from this type of transactions.