Retail industry in India is undoubtingly to be
a one of the best growing retail industries globally. With the mounting
globalization of retailing, both in terms of their points of supply and points
of sale the information technology (IT) spend in this sector have increased
extensively. Information technologies in retail endeavor not only to boost the
effectiveness of retail establishments in various areas of their operations,
but also to get better customer service owing to the automation &
customizations. IT industry plays an increasingly vital role in the organization
of complex retail operations. Some of the associated benefits include improve
accuracy of demand forecasts & production plans, advertising &
promotions, data processing & analysis, supply chain improvement,
efficiency across business functions, customer experience & loyalty and the
multi- channel retailing etc.
According to study, “IT
Market Potential for Retail in India, By [Applications (In-store Management,
Customer Centric Management, Headquarter Management, Supply Chain Solution
Management), Technology Types (Hardware, Software, Services), Verticals,
Regions (Metros, Mini Metro, Tier I, Tier II & Below) ] - Trends &
Forecast: 2015-2020”
some of the factors c currently operating in the IT market potential for retail
in India are Oracle Corp., Cisco Systems Inc., Wep Peripheral, Tata Consulting
Services, RanceLab, International Business Machines Corp (IBM), Infosys Ltd.,
RetailCore, Cognizant, Wipro. Lt, SAP.
Based on the application, IT market potential
for retail in India is segmented into In-store management, headquarter
management, customer centric management and supply chain solution management.
In-store management includes inventory, loyalty, Point of Sale (POS), store
integration framework and Customer Relationship Management (CRM). Headquarter
management includes financial, HR & payroll, advertisement management,
master data management, asset management and web enabling & ecommerce. The
customer centric management includes marketing management, customer promotions,
merchandise management and space management. The supply chain solutions
management includes transportation management, order management, procurement
management, warehouse management and product life cycle management.
Based on the technology types, market is
segmented as software types, hardware types and services types. The
technologies used may be the smart operating system, Enterprise Resource
Planning (ERP) and Radio Frequency Identification (RFID). ERP helps in
integrating all departments & functions within the businesses in a single
computer system that provides the specific requirements from the different
departments. RFID is used for the check-out process, smart labeling and
overhead reduction. Based on the region, the market is segmented into mini
metro, metros, tier I, tier II & below.
The IT market potential for retail in India is
primarily driven by operation support system followed by strategic decision
support system, CRM systems and visual merchandising. Apart from the major
profits, some of the hindering factors include intellectual property rights,
followed by international trade law, data protection and telecom &
information technology laws. In addition, some of the opportunities driving the
market growth include Omni channel retailing, quick response codes and voice
hardware for warehouse. However, few of the challenges such as transparency
& tracking includes Payment Card Industry (PCI) security compliance, global
data synchronization and customer data etc. The Indian IT market potential for
retail is expected to reach at US $81.2 billion, by 2020, at a CAGR of 16.7%.
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