IT is enabler of retail sector growth

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IT is enabler of retail sector growth

ReTechCon, the meeting point between the retail industry and the technology providers aims to boost the retail sector business using IT

CMN Correspondent

Friday, May 15, 2009

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MUMBAI, INDIA: Retailers Association of India (RAI) CEO Kumar Rajagopalan said that IT is an essential part of the retail industry today, as IT is the enabler of the growth of the retail sector.

"In current scenario, there's a need of taking a strategic and objective view of using IT in the retail sector. In the past few years, the retail industry is expanding rapidly, however, the industry didn't have the time to look at IT as a critical business component. But now, it is changing extensively," said Rajagopalan, while addressing the 5th edition of the Retail Technology Conclave (ReTechCon), which began in Mumbai today.

"Today, many retailers have gone beyond IT heads and have appointed CIOs in the organization, who sits together with their CEO and business heads to formulate business strategies using IT. Overall the retail industry is looking at optimized solutions and cost-effective means for business growth," he added.

Keeping in view the current global business scenario, this year's theme is titled "IT leadership challenges in difficult times". It suggests that the retail sector is looking at IT experts and leaders to help overcome the sluggish business time and banks on various options to renew the growth and sustain business.

While, NASSCOM's chairman and managing director of Zensar, Dr. Ganesh Natrajan spoke about various formats available for business growth in terms of IT.

"The sector has the option of capital purchase, pay-as-you-use or revenue models to enable the business growth. Retail industry can optimize their investments including space and infrastructure and here IT helps to make the business smooth and scalable," Natarajan said.

Commenting about the slow business scenario and growth opportunities in India context, Natarajan emphasized that there is definitely growth in the country and said that it is a controlled growth.

While speaking to CyberMedia News, Rajagopalan informed that overall the retail sector's investment in IT is anywhere between 1.2 to 4 per cent annually depending on the size and tenure of the retail company. Along with top technology vendors, small solution providers are able to provide their solutions as per the requirements of the retailers.

Rajagopalan pointed that Indian retail sector is very open to technology and solutions, while retail industry in Western and European markets is faced with the issue of legacy software. Overall, the mood of retail community at the event is very optimistic about growth and looks at IT as a significant business component and enabler. Currently, RAI has about 435 members including IT vendors and retailers; and nearly 200 plus delegates remained present at the meet.

RAI has organized the conclave in association with NASSCOM, with an aim to promote technology in the retail industry.

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