Phygital over digital? Here’s what Indians prefer

Podcast Duration: 7:10
Phygital over digital? Here's what Indians prefer Voice Over- Hello doston, Angel One ke aur informative podcast mein aapka swagat hai. Iss podcast mein hum ek bahut popular buzzword ko discuss karenge - phygital. This word is a combination of the words ``physical `` and''digital ``. It is essentially a customer experience jo digital aur physical elements ko combine karke offer kiya jaata hai. Aaj-kal ``phygital” e-commerce se lekar healthcare tak - bohot saare contexts mein increasingly use ho raha hai. Aap “phygital” devices ya services har jagah dekh sakte hain. For example, when you order groceries online and pick them up later, ya phir jab aap ek restaurant ka menu apne phone pe dekhte hain, or even when you use wearable devices to monitor your health and fitness - aap ek “phygital” activity mein participate karte hain. Where is phygital being used? Phygital experiences bohot saari organisations mein successfully utilise ho rahe hain. This is because in these contexts, customers ki needs ko accurately identify kiya gaya hai aur yeh measures solutions provide karne ke intention se offer kiye gaye hain. During the COVID-19 pandemic, phygital measures ek bahut important cheez kar rahein hain - they are bridging the gap between physical and digital in places jahan pe logon ka physically present hona zaruri hai. For example, Banks ya airports pe kiosks are used to generate tickets and boarding passes. Yeh spaces usually crowded hoti hain, making it difficult for customers to get their work done safely and on time. Kiosks digital technology ka use karte hain so that customers apna routine kaam jaldi se jaldi complete kar payein. In a time when COVID-related restrictions relax ho rahe hain, for many customers it is easy to go to a restaurant, lekin wahan pe dine-in karne mein hesitation ho sakti hai. As a solution, aaj kal restaurants aur shops bhi buy online, pick up in store ya curbside pick-up ka option de rahi hain. Phygital in India Doston apart from these solutions, phygital ke bohot saare uses hain. In India, internet aur smartphones ka access badh raha hai, and as a result, there is an increase in digital literacy as well. Yahan pe phygital ka use kayi alag-alag innovative ways mein kiya jaa raha hai. Lekin, aap soch rahe honge, if digitisation is easily accessible in India, what is the use of “phygital” tools? Iss question ko answer karne ke liye, let’s look at what makes digitisation in India unique. Let's take the example of kirana stores. India mein 15 million se zyada kirana stores hain. This number excludes the organised sector. Ye kirana stores usually aise logon ki needs ka khayal rakhte hain who don't have the access or know-how to use purely digital services. Moreover, smaller towns and villages mein e-commerce and delivery ka option nahi hota hai. There is an unevenness in terms of access to the internet and the different services provided through it. Maaniye ki ek chote town mein most logon ke paas smartphone aur internet hai, lekin wo groceries online order nahi kar sakte because of the lack of big organisations providing that service there. Aise cases mein, phygital can help find the solution. Doston iska ek achcha example hai Amazon Easy. This is a program started by Amazon in India jiske under Amazon ne 20,000 kiranaa stores ke sath partnership mein goods ki storage aur delivery ke liye invest kiya hai. Iss program mein Amazon shopkeepers ko training dega to help teach new internet users how to shop online. Similarly, Reliance ka JioMart ek online-to-offline marketplace create karta hai jisme customers online order karke local store se groceries pick up kar sakte hain. The future seems bright for those companies jo phygital techniques ko alag-alag ways mein adopt kar rahi hain. Amazon is a good example of this. Amazon Easy, jo humne abhi discuss kiya, is just a small example of the company’s overall commitment to phygital. Digital assistant Alexa jaise creations Amazon ko ek phygital direction mein lekar jaa rahe hain. And, investors are realising the worth of such an endeavour. Isiliye aisi companies ke stocks abhi aur future mein acha perform karne ka potential rakhte hain. COVID and phygital In India, phygital techniques digitisation ke kayi gaps ko fill karne ke liye utilise ki jaa rahi hain. Lekin, in the present situation, “phygital” measures COVID-19 pandemic se arising problems ka solution dene mein successful rahein hain. COVID pandemic mein physical space ek scarce resource ban gayi hai jisko actively monitor karna bohot zaruri ho gaya hai. In such a situation, technology is creating an interface between people and physical spaces. Iss se phygital ka en undeniable rise ho raha hai. Phygital techniques, services aur processes retail spaces, offices, airports, healthcare, aur schools jaise kayi saare domains mein COVID-19-related problems ke solutions de rahi hain. Kayi logon ka maanna hai ki COVID pandemic mein offline retail suffer karega. Lekin thanks to technology access, retailers ne bohot jaldi pandemic ke liye khud ko adapt kar liya hai. Contactless and cashless payments, especially, India ke phygital experience ka bohot bada part rahe hain. As the next step in this race to "phygitisation", machine learning aur artificial intelligence ko develop kiya jaa raha hai. Digital tools aur AI aane wale time mein retail ka ek staple ban jayenge. Companies that recognise the need and utility for creating and utilising phygital techniques have some foresight and are looking towards the future. The good news is, aaj kal kayi saari companies phygital ko willingly embrace kar rahi hain. Aisi companies clearly AI aur machine learning ke research aur development mein invest kar rahi hain. Aise forward-looking companies ke stocks, as a result, will fare well in the market. But not all companies doston, this is a reminder, ki all futuristic companies can perform well, doesn’t mean they absolutely will. Here’s where we tell you to study industries, companies, their past performances, wagera wagera. Past performance and future trends both are important. That’s all from today’s podcast! As usual, before we sign off, hum aapko stock market investment mein risks ke baare mein remind karaate hain. Also, we remind you to carry out your own, thorough research before investing in any stocks. This podcast has been made for educational purposes only. Doston aise aur podcasts sunne ke liye humaare YouTube channel ko subscribe karein and follow us on all our social media handles. Until then goodbye and happy investing! Investments in the securities markets are subject to market risks. Read all the related documents carefully before investing. Sources