Data is the new oil, especially in the Indian Retail industry. Since almost a decade ago, ecommerce has changed the way consumers look at retailing in India.
Organised retail and ecommerce have brought in superior supply chain capabilities and price efficiencies that have brought down the end cost for the consumer. However, organised retail makes up only 10 percent of India's consumption story. Small stores and distributors have been able to survive with their small net margins of three percent without technology.
But, over the last six years, there have been concerted efforts from brands and startups to work with distributors and kirana establishments by providing them technology and empowering them with data to change the way they reach customers.
Will 2020 be the year when these retail establishments are powered by technology? Let’s find out.
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