Retail in India holds a strong promise, and the growth we have seen thus far is just the beginning. Be it the government policy in terms of FDI reforms, the sustained GDP growth & other upbeat socioeconomic factors or the exploding middle class with rising disposal income, the story is only set to get much stronger.
However, the promise also calls for some fundamental transformation in the retail industry, in how businesses interact and engage with digitally empowered consumers of today. Time is now ripe for the retailer brands for some bold initiatives by embracing technology to meet the consumers in their shopping micro-moments and stay relevant.
In-store shopping is not going away but only getting upgraded, with technology serving as the bridge between the retail stores and the digital-age consumers. Technology can make shopping more enjoyable and personalized for consumers, and happy consumers are good for the retail stores after all.