“Technology can convert a window shoper into real shopper”

IIPM, GURGAON

What role does technology play in the retail industry?
Technology is important in every industry, but in the retail industry it has its own significance. Retail is all about consumers, where buyer needs the right information at the time of purchase and that’s possible only with the proper technology in place. Moreover, technology enhances the impulse buying behaviour of the consumer very radically. Interestingly, technology has the power to convert a window-shopper into a real-shopper.

What is your company doing for the retail industry on the technology front?
We started in the year 2000, by providing the digital signage technology to the industry and as the time passed by, we went more inside the industry. Today, we are very much into the industry & providing many new technologies to the industry. The future really lies in wireless technology for the retail industry.

Where does technology play a vital role in the retail industry, back-end or front-end?
Technology is equally important in both. While technology in the back-end sends information across from back-end to the front end, at the front-end it helps in retaining information and passing it on to the consumer.

India has already seen a wave of retail growth in the urban parts of the country and market experts are now expecting the same in rural India. Do you agree?
Certainly yes! And it’s because of the simple reason that if you notice the efficient broadband usage happening in the rural part of the country, there is definitely a tremendous scope for retail to grow in rural India. However, there’s a need to make the rural customer aware of the same message that has already been given to urban consumer and technology is very well capable in doing the same.

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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