Speaking at the Retailers Association of India's fourth retail technology conclave at the Hyderabad International Convention Centre here, he said it was time the retail outlets looked at rural areas. This will serve the large untapped markets as well as create employment opportunities for the youth from smaller towns.
He said technology would be a key factor that would drive the retail revolution in the country. The unorganised retail sector, which boasts of over 10 million kirana shops, too presents an exciting market. "India is ahead in the retailing sector and can provide success stories for other countries to replicate,'' he said.
Peter Mahler, chief information officer of Coles Group, an Australian supermarket chain, in his keynote address said the key to success of a retail venture was efficient project management. The retailer should get the testing and estimation right to reduce the time lags, he said.
"There is a need for a customer information system and data analysis to make informed decision on pricing and logistics,'' Mahler said, adding that retailers will have to be open to outsourcing as the quantum of data for analysis increased everyday.
