siliconindia | | December 20199Technologies like AI and ML is adding fuel to the `Digital Fire' and making the Retail industry move closer to customersthe Retail industry move closer to customers. It is helping organizations to become more customer-centric, agile and relevant. Fintech revolution and Digital Payment push is also helping the shopping experience much more seamless.It is just not around the front end but even in the back end the Digital impact in Retail is mind boggling. Smarter Supply Chain relies on Digital making sure you have the right product at the right place at the right time. The cost of the Supply chain including Inventory gets a major leg-up opportunity with Digital interventions. Even beyond Supply Chain, the sourcing strategies are today getting increasingly driven by digital tools. Retail industry understands the importance of being nimble, agile and cost effective and they are looking big time at Digital for achieving all these. Digital interventions around connecting the entire workforce in various stores and getting personalized nuggets to sell, up-sell and cross sell is increasing the productivity levels and the store executive is becoming a real trusted advisor thanks to the power of the Digital tools they have. One of the biggest sore points of the Retail experience is the time for payment and check out. Here again Digital is making its entry through auto checkout capabilities like in Amazon Go. The good part is that such technologies are now available in the cloud on a SaaS based model which makes it a potential opportunity for very many smaller stores and enterprises. With Digital for Retail, sky is the limit or endless aisle makes it even boundary less! China and USA is leading most of these Digital capabilities and I am pretty confident that India will also get most of it and they will be of mass scale very soon. Some of our startups in India are also doing a lot of advanced developments in this area and hope they will make it more affordable for the Indian Retail. To conclude it would not be incorrect if we say "Future Retail ­ Powered by Digital". I am hopeful that all these Digital interventions bring back glory to Retail in its fight with Etail. Let there be more change and competition, the customer is all set to benefit and the Digital experience going to be a rewarding one for the Customer.
< Page 8 | Page 10 >