60% of Indian Retailers See Technology as Key to Competitiveness: PwC India Report
Mumbai: A report by PwC India, titled “The Retail Reinvention Paradigm: How Brands Could Up Their Game,” reveals that 60% of brick-and-mortar retailers believe technology can enhance their competitiveness in the evolving market.
The report, launched at the Retail Leadership Summit, emphasizes the use of AI-driven analytics, mobile apps, and modern POS systems to improve customer experiences. Despite strong demand for in-store interactions, 53% of traditional retail stores have yet to adopt technology solutions.
The report highlights the impact of e-commerce and quick commerce on Indian retail, with 34% of traditional retailers reporting negative effects from online shopping. However, consumers want the best of both worlds – seamless digital convenience and in-store experiences.
Ravi Kapoor, Partner and Leader – Retail and Consumer, PwC India, stated, “Indian retailers must navigate the complexities of e-commerce, balancing online and offline channels, optimizing supply chains, and enhancing customer experiences.”
The report introduces a comprehensive retail reinvention framework, guiding retailers to blend traditional and modern approaches. By embracing technology and focusing on experiential retail, retailers can create immersive consumer experiences that drive sustained growth.
