New Delhi : The Indian retail industry is expected to driven by data-led opportunities and artificial intelligence, said a joint report by industry body Assocham and Primus Partners. The changing consumer preferences is driving the need for the digitisation of stores, and increased integration of micro, small and medium enterprises (MSMEs) across the value chain will further accelerate the growth of data-driven retail, it added.
“The role of offline stores is likely to change, focusing on experience and collection. Consumers, to avoid crowds, would prefer to ‘buy and pay online, maybe pick-up in-store’, as a way of stepping out of their homes,” said Assocham-Primus Partners’ joint report.
The unorganised segment has dominated the Indian retail sector and in 2019, the segment commanded as much as 85 per cent of the market, show-casing the significant potential for digitalisation.
“The Indian retail industry is expected to transform owing to technology-disruptions, driven by artificial intelligence and data-led opportunities,” it said.
Moreover, in the coming times, the products and services that make people more independent will witness an increase in demand.
Source: ET Retail
