Future Group CEO Kishore Biyani on Thursday said that the physical retail segment and online retail space may merge into a hybrid model in the next three to four years.
Coining the term "phygital" for the hybrid model, he said the it would help the business to grow.
"I think physical has its own advantages or nuances and digital has its own advantages.
But they have come up in different eras. . .
I think in another three to four years it will become 'phygital in a way.
Because every physical retailer will need digital presence and digital people would need physical.
Ultimately there will be two hybrid models that will emerge that will help the businesses perform better, " he said on the second day of the Amazon 'Smbhav' event.
Biyani - led Future Retail, earlier in the month announced long - term agreements with Amazon India.
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