December 21, 2007
Tech Retail Therapy
Retail in India is in. Till a few years ago few anticipated that India would turn out to be one of the biggest retail markets in the world. Born on an appetite of conspicuous consumption being the evil one combined with a little seasoning of socialism and the Indian way of life, few anticipated India would in 2007 turn out to be the top country in Global Retail Development Index (GRDI).
From Reliance to Tatas from the entrepreneurial telecom giant Bhartis to the just about any brand in the world, India is the destination and retail in India is hot like never before.
Technology behind the scenes
As retail expands and perhaps gets complicated behind the scenes in order to deliver that immaculate experience to the pampered consumer of today it’s technology that providing the spine to retail. And it’s here that tech giants like IBM amongst others are working on solutions created specially for the Indian retail market and are bullish in a way never seen before. According to IBM “IBM Retail Store Solutions (RSS) is one of IBM’s fastest growing emerging-opportunity businesses”. That investments in retail and investments in technology being used for retail solutions are growing can be gauged by the fact on one end giants like Reliance Retail, Spencers, Hypercity and DLF are going ahead with plans worth an investment of US$ 10 billion to set up retail outlets, on the other hand it’s companies like IBM and other technology providers which are seeing a direct benefit from providing retail solutions to such companies. Consider the case of IBM. It’s high velocity growth in this sector has continued in terms of a high double-digit revenue growth for seven consecutive quarters with revenue growing more than 25%. Read more
















