The Indian Retail industry contributes about 10% of the GDP and generates 8% of employment. With various policy decisions like 100% FDI in single brand retail and 51% in multi brand retail, the sector has seen record FDI inflows. As per credible research, the sector is expected to grow to the size of 2 Trillion Dollars by 2030. This presents huge opportunities for all stakeholders.
With the advent of ecommerce and retail tech companies, the face of the Retail industry has changed forever. Technology has been the biggest disruptor, creating mammoth Retail organizations like Amazon, Walmart, Ikya and many more.
No other sector has seen disruption of this scale, changing rules of the game or should we say continuous disruption and innovation being the only rule. As per one study, e-commerce in India is expected to be worth 350 billion dollars in 2030 from an estimated 55 billion currently. Every industry today is selling directly to customers at varying scale, in the last decade we have seen almost everything including FMCG, Durables, Medicines, Fashion, Electronics and every imaginable product or service getting sold through ecommerce or Modern Trade. Ease of buying, variety, pos, service and cost effectiveness are the biggest influencers for the customers. Organizations will have to adapt to this reality and strategize in a new way to not lose their competitive advantage.
Our specialized Retail Practice Group understands the demands on Retail industry professionals, specially the leadership. Continuous technological advancement and disruptions caused by the entry of MNCs and new age entrepreneurs have made traditional practices outdated and changed the rules of the game. With decades of industry insight gained through hiring for multiple Fortune 100 and Fortune 500 Retail clients, we are uniquely positioned to help you navigate all talent related challenges and gain competitive advantage. Our consultants come with years of diversified industry experience across functions and understand real life challenges. Speak to us today to hire right and hire on demand.