Good customer experience can drive retail in India

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: find it convenient to use them in retail as well.

Mobile is a new channel in multi-channel retailing and the channel of the future. It started with the market for ringtones and moved on to text-based ordering. Now, m-commerce solutions have been piloted in quick service restaurants, among online retailers and entertainment retailing across the globe.

Selling merchandise and speciality goods in various channels with appropriate technology would help to increase the sales. It is a fact that online retailing is around a mere 0.1% of the retail market in India, whereas it is around 4% of retail sales globally. Analysts project that by 2011, online sales would account for nearly 7% of the overall retail sales. So, there is a huge potential for India to catch up with the rest of the world.

All the above-discussed business and technology issues need immediate attention in one of the fastest growing sectors in India—retail. In addition to promotion and loyalty schemes, appropriate formats, enhancing customer experiences and adequate investments in multi-channels would drive the market share of retailers in this changing retail landscape. If 100% FDI is allowed, the retail sector would take off like the boom in IT sector witnessed in the late 1990s, and would take all the related sectors to great heights as well.