Here are four building blocks for a future-ready retail with technology

The share of e-commerce is expected to grow from 6% of the overall market in FY21 to almost 11% by FY26

Arvind Mediratta New Delhi
Retail sales touch 72 pc of pre-pandemic levels in July: RAI

Technology is changing the world in ways that would be considered unimaginable a decade ago. At the turn of the century, if someone had told you about dictating your shopping list to a phone to get it delivered within half an hour, or booking a cab at a click of a button, you would have dismissed it as futuristic! But all of this has become a way of life now – our ‘new normal’. 
In the last decade or so, the retail industry has seen several transformations and evolved exponentially due to the assimilation of online and offline channels, growing consumer awareness and rising disposable income. In recent years, the digitalization and formalization of the economy as well as the easy availability of venture and risk capital has catapulted the sector’s growth in India. 
According to a Bain & Company 2021 report, India’s retail sector is one of the fastest-growing in the world, projected to touch $1.3 trillion

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First Published: Nov 25 2021 | 5:10 PM IST

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