The Indian retail sector as we know it today is an incredible growth story spanning two-and-a-half decades. As consumers, we have seen how the sector has evolved. It’s now hard to imagine how two decades back, shopping was a chore that needed so much planning. Interestingly, there’s space for everyone – from Kirana stores to modern retailers to e-commerce players and the opportunity has expanded from the first 100 million users to the next billion.
At the heart of this shift lies the customer and their rapidly changing needs, influenced by unending choices, real-time comparisons with competing products, and the ease-of-use of omnichannel platforms. Today, digitally-savvy consumers have spread across the length and breadth of the country. Whether you are located in a Tier 3 city or driving down Connaught Place, information accessibility is the same. Companies have also responded with great speed through digital tech adoption to give us (24/7/365) what we often take for granted – a hyper-personalized customer experience.
Source: Financial Express
