Changing mind-sets, increased customer expectations and competition are bringing about rapid changes in the market dynamics of Indian Retail. The sector is displaying significant growth with total retail sales slated to grow from approx. INR 20 trillion in 2011 to approx. INR 30 trillion by 2015.
As businesses scale up, operational complexity increases; customer expectations are changing and the retail industry is leveraging technology to be ready to compete and succeed in the future. Addressing the existing challenges of inventory and shrinkage control, demand and planning, retailers also understand the latent need to tap the pulse of the changing market and act fast in a highly competitive space. All this requires extensive and prudent IT strategy and extensive investments across a broad range of technologies and applications.
Investing in IT outsourcing not only comprises automation of processes and consolidation of IT infrastructure, but also encompasses inimitable value creation and strategy partnering. IT functioning has changed from being a ‘process enabler’ to ‘business enabler’; also it has derived its role as‘value-unlocker’, to achieve sustainable growth and operational and competitive edges. To value add these aspects, a comprehensive and in-depth understanding of the IT role from the stakeholders perspective is required, Thus an assessment of successful identification and implementation of suitable business models in the retail space will help to drive the changes in the Indian economy.