Indian Retail Industry

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EFFECT OF TODAY’S TECHNOLOGY ON INDIAN RETAIL

RETAIL IN INDIA:
Indian retail industry is one of the fastest growing retail industries in the world, comprising both of organized and unorganized sectors, especially over the last few years.
It is the 5th largest retail industry with 1.2 billion people. With the growing demand of this market, it is expected to grow at a pace of 25-30% annually. Though initially this industry was mainly unorganized, but with the increasing change in the tastes and preference of the consumers, the inclination is getting more towards the organized sector.
GROWTH OF INDIAN RETAIL:
According to 8th Annual Global Retail Development Index (GRDI) 2014, AT Kearney, Indian retail industry is one of the most promising emerging …show more content…

With the increasing consumer demands, the retailers had to find a way to inorder to stand out from a crowd to similar retailers providing the similar products. With the customer base increasing, the retailer started to face operational challenges, therefore, the he had to distinguish himself in front of the customers in terms of services provided. This could be made possible through extensive use of technology. Therefore, various hardware and software tools have become most essential for retailing to be carried out competitively. They enable to capture the data and help in improved decision making. Various hardware and software tools being used …show more content…

It helps in both improved inventory management and CRM. In order to manage the inventory, it keeps the track of the stock available, optimum inventory levels, avoiding stock out and reducing unnecessary ordering. It also results in satisfied customers. The staff can identify the exact location of any retail item at any time. It offers store to store visibility, thus handling customers’ requests quickly. It also boosts customer loyalty, because a hassle free shopping will always result in repeated

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