New retail growth story is shaping up in India as traditional retailers are making smart choices for unmatched in-store shopper experiences to take the massive brick-and-mortar retail sector to next level.
Right infrastructure for stores of the future is gradually developing in the country to offer seamless shopping experiences to new-age consumers in rural and small towns. Traditional retailers across the country are gearing up with new technologies such as Artificial Intelligence, Social, Mobile, Big Data and so on to make offline the new online.
These emerging trends and the demand for enhanced consumer experiences is going to scale up the retail solutions providers industry from the existing Rs 12,000 crore to Rs 20,000 crore in next three years. This will not only boost business opportunities, employment etc. in small towns and rural India, but will also contribute largely to the growth of regional retailers by setting new shopping expectations and experiences for new-age consumers.
Sharing his observations on brick-and-mortar retail, Jamshed Daboo, Managing Director, Trent Hypermarket said, “Even today although we keep talking about customer experience, it has not become an all pervasive force. Customer experience has to be addressed more comprehensively. Customer experience is the sum total of various journeys, connects and moments of truth that the customer interacts with the brands, companies and products.”
Aditya Krishna, Head – Category Planning & Activation, Mondelez International said, “Majority of decisions are made by shoppers at the stores and hence it is critical for brands to have stunning stores. By bringing in global best practices, clear transparent matrixes and innovative yet impactful displays at large scale, this industry can match expectations of large brands who are looking to drive stunning visibility across sales.”
Thomas Schlitt, Managing Director, Messe Düsseldorf India, said, “Newer avenues at the bottom line of retail industry will be game changer for the sector and revolutionize consumer experiences and touch points.”