Generative AI & data analytics driving online retail momentum; social commerce here to stay: Experts

NEW DELHI: Technologies like Generative AI, machine learning and big data analytics are transforming the e-commerce and retail landscape in India, improving and personalising consumer experiences, according to industry leaders who also believe that social commerce momentum is here to stay.

Industry’s top leaders, including Tata CLiQ CEO Gopal Asthana, Snapdeal CEO Himanshu Chakrawarti, Zivame COO Lavanya Pachisia, and DHL Supply Chain India MD Vikas Anand, were speaking in a panel discussion at the ‘DATE with Tech’ event here.

The panel discussion on ‘Navigating Online Offline Retail Convergence: Strategies for Success’ deliberated on various aspects like market opportunity, the outlook for 2024, omnichannel retail strategies and the role of new and emerging technologies in driving consumers’ shopping experiences.

Panelists were of the view that the increasing popularity of social media platforms, particularly among younger shoppers, is set to drive social commerce going forward.

“Social commerce is here to stay...the adoption of say WhatsApp, or buying on Instagram is something that consumers are looking for,” Pachisia of Zivame said, adding that companies are now looking at social commerce as a “normal business avenue”.

Pachisia further noted that e-commerce players are looking at traditional and offline formats even as the traditional players are going for an omnichannel approach.

“The challenge is to give similar or uniform shopping experience whether a consumer is online or offline,”

she said.