New disruptions are coming from startups

Special address by CP Gurnani, MD & CEO, Tech Mahindra, and Chairman, NASSCOM

The NASSCOM honcho enthralled all with a succinct and engaging speech. He said that entrepreneurship, retail and shopping have always been part of our DNA. These days digital is disrupting; technology has made Amazon and Flipkart what they are now. Technology has become all pervasive. It is indispensable for both online and offline retailers. Technology is creating knowledge, allowing retailers to have insights into the consumers’ behavioral pattern.

The new disruptions are coming from startups. And their services can be availed at lower costs. Technology is the differentiator allowing the retailers to have overall better performance in the market. There is need for startups to crowd source ideas. Retailers have to adapt to this new ecosystem where startups dominate. Today, retail is about product, technology and reaching out. They have to decide how they will use technology to expand, increase operational efficiency, productivity and profits. There is a need to correlate with the use of new business and to do so one has to redefine the business. There is a requirement for working on stretch goals to make the business relevant and sustainable.

By Suranjana Basu

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RAI
Retailers Association of India (RAI) is the unified voice of Indian retailers. RAI is a not for profit organization (registered under section 25 of Companies Act, 1956), works with all the stakeholders for creating the right environment for the growth of the modern retail industry in India. RAI is the body that encourages, develops, facilitates and supports retailers to become modern and adopt best practices that will delight customers. RAI has a three charter aim of Retail Development, Facilitation and Propagation.