New Delhi: As retail expands, Indian IT companies have a new reason to celebrate. The phenomenal growth in this segment means plenty of potential business for IT firms.
There was not a single vacant chair at the Retail Technology Conclave organised by the Retailers Association of India. That's a reflection of the buzz in the retail sector. As retailers expand they are looking for serious technology solutions and are willing to pay for it.
Shoppers' Stop, which will open its first hypermarket in a few weeks' time, will spend between Rs 20-30 crore on IT, over the next 18 months.
CMD at Shoppers' Stop, B S Nagesh says, "At Shoppers' we know lifestyle, at hypercity- we know hyper market, crossword is a book store. So now we need one view of the consumer. That will come through data warehousing, data mining, analytical tools and CRM solutions."
Interestingly, the retail boom could be a boon for Indian technology companies. Many of them, like Zensar Technologies and Bartronics, are showcasing their products at the seminar.
They are also hardselling services, which include managing a client's software needs at a third of the price that retailers would pay a foreign company.
The organised retail industry accounts for about 4 per cent of India's retail pie. It's growing fast, and with Reliance waiting to enter in a big way, it's good reason for IT firms to celebrate.
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