The demand for cost-effective retail solutions is growing at a rate of 10% in Q1 FY10 and is expected to grow between 20% to 40% in the next three to four years
The Rs 40,000-crore organised Indian retail sector is seen investing close to Rs 2,400 crore in retail technology service solutions in the current financial year. This could go up to Rs 6,000 crore in the next four to five years, at a CAGR of 40%, Kumar Rajagopalan, chief executive officer, Retailers Association of India (RAI) said.
"In a tough economic situation, today's organised retailers want retail technology solutions for utilising retail space better, creating a better merchandise and enhancing supply chain management, creating better customer-centric models, people management and financial management, apart from enabling retailers to create revolutionary models, especially in multi-channel retail technology," said Rajagopalan,
Retailers' increasing focus on multi-brand formats is expected to further drive growth in technology. Says Mukesh Mathur, director and business head—retail, Oracle India Private Ltd, "In times of global financial slowdown, the demand for cost-effective retail solutions is growing at a rate of 10% in Q1 FY10 and is expected to grow between 20% to 40% in the next three to four years with retail majors focusing more on multi-brand retail formats."
Source: The Financial Express
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