Category — Information Technology
Growing at a CAGR of 13%, the Indian retail market is projected to double over the next four years to reach $1.08 trillion by 2020 from the current $585 billion, and the share of organized retail will increase from its current 7 percent to 24 percent. With retailers in India focused on delivering the right shopping experience, technology’s role as an enabler is becoming very significant.
Ashok Ghose, senior vice president of Tata Teleservices says: The coming year will see the consumerization of technology touch an all new level, with consumers not just in control of brands but also open to new paths of purchase. Indeed, the era of digital consumerism that unfurled earlier this year is now here to stay.
Ghose describes top technology trends that will reshape the retail landscape in this year:
Business Intelligence: Telecom operators are increasingly applying business intelligence for enhanced consumer satisfaction, revenue streams and cost savings, and with adequate support from business intelligence, these firms are able to further monetize the mountains of data that flow through their networks.
Smart shelves/Digital Signage: Smart shelves can automatically monitor inventory in stores, and the technology then notifies the manager when an SKU is about to go out of stock. Digital signage display ads and price changes to stores in real-time, which creates target sales for consumers
Retail Beacons: Retailers can use beacons to automatically send notifications and discounts directly to shoppers’ smartphones when they enter a store. In this manner, stores can push relevant information to its customers without resorting to too many text messages and app notifications.
Share of Screen: Consumers are shopping across multiple platforms and devices, and brands need to continue to invest in implementing multi-channel loyalty strategies that deliver personalized and consistent experiences across them all.
Ghose adds that e-commerce is changing the face of Indian retail sector, and a growing number of consumers are flocking to online shopping alternatives. E-tailers are increasingly using social media in innovative ways to interact with their customers.
February 11, 2017 No Comments
After successfully completing the first edition of the Qualcomm Design in India Challenge, the company announced an investment of $8.5 million for its second edition, where the challenge will focus on rural technology, biometric devices, payment terminals, agriculture technology, medical technology, and smart infrastructure.
“Qualcomm Design in India Challenge is one of the most successful initiatives by Qualcomm to nurture some of the talented startups in India. After seeing the overpowering response during the 2016 edition, we decided to go ahead with a second year, as well as expanding the number of participants Qualcomm nurtures through this program from 10 to 16 participants in 2017,” announced Qualcomm Technologies‘ senior vice president and president of Asia Pacific and India Jim Cathey in his statement.
The company plans to support mobile and IoT vendors in India by providing advanced cameras, audio, and RF designs at its new Innovation Lab to be set up in the southern city of Hyderabad, as well as at its current Innovation Lab in Bangalore which will be expanded to support the initiative, reports the Economic Times.
February 8, 2017 No Comments
According to a report titled ‘Digital – The New Normal of Marketing’ by the Confederation of Indian Industries and KPMG India, digital advertising, which accounted for 12.7 percent of total ad expenditure in 2016, is expected to reach $3.6 billion in 2020, growing at an expected Compounded Average Growth Rate (2015-2020) of 33.5 percent.
Salient points from the report according to Forbes:
- Nascent technologies such as emotions analytics, predictive marketing could be used to leverage the power of data
- Native ads blend in to combat mobile and desktop ad blocking and appear as regular content delivering value and relevance to the consumer
- Authenticity, relevance, and value are increasingly important parameters for content creation and distribution
- The digital consumer’s attention span has come down to 8 seconds, (in 2007 it was 12 seconds)
- Customers trust peer recommendations and reviews than professionally curated content
- ‘Programmatic advertising’ is the future of digital advertising
“Singularity, connected systems, Cognitive and AI will create a world where the marketer will be marketing not only to humans but the ‘self-thinking’ machines,’ says Rachna Nath, Partner and Head, Digital Consulting, KPMG, India.
February 4, 2017 No Comments
Forbes reports that according to a joint research report by Google and Accel Partners, by 2025, companies in India are likely to command 8% share of the global SaaS market which could be worth $10 billion annualy. Tracxn, a startup intelligence and market research platform, says that since 2010 India’s SaaS companies have witnessed more than $1.4 billion invested in the industry.
Indus Khaitan of Sirion Labs, (a SaaS company in India), says, “Gaining cost advantage by lowering the price is short lived. We don’t do that. But there’s an inherent advantage we have in terms of quality of entrepreneurs and people in this particular field. And all this is available at probably one third the price of that in the U.S.,” He also added that in order to be low cost, a company requires complete re-engineering of how to build a product.
January 24, 2017 No Comments
Engineers Samay Kohli and his colleague Akash Gupta have created GreyOrange a robotics supplier whose products support online retailing not only in India, but internationally too. Based in Gurgaon, India, GreyOrange says it has 90% of the warehouse automation market in India, and it works with leading e-commerce and logistics firms in the country, reports the BBC. The company has eight offices in five countries and employs more than 650 people.
GreyOrange has two kinds of robots that help warehouses become more productive: Butler, an artificial intelligence-powered robotic system, can pick products from shelves in the warehouse. ”A single person would pick about 100 to 120 items in one hour. With our Butler robot, he is able to pick 400 to 500 items every hour,” Kohli says.
Sorter, automates the sorting of outgoing packages in a distribution center, and the pair of robots can potentially sort three million packages every day. The founders say, “It’s [AI] a trillion-dollar opportunity, that’s the space we’re fighting in.”
Some of their clients are Kerry Logistics, Jabong, Flipkart, Aramex and Gojavas.
January 24, 2017 No Comments