Jain said that there are numerous benefits that the retail industry has gained because of technology. From understanding consumer behavior regarding their buying pattern to analyzing their research-based investment decisions and anticipating the demands and aspirations of target audiences from their preferred brands to making logistics fast, traceable, and easier, technology has been phenomenal in revolutionizing the retail industry, especially at the outset of e-commerce.
“As per my observations, the three most remarkable contributions of modern technologies to the business world are – digital payment, e-commerce, and IT-enabled supply chains,” he stated.
Challenges in Technology Adoption
Today, India is one of the leading tech players in the world and its engineers and technocrats not only empower the country’s infrastructure and business but also facilitate the growth of foreign companies across the world. But, being a large and complex market, some challenges are evident such as the cost of implementation of novel technologies and the scarcity of trained manpower, Jain asserted.
“Another regular issue is the shortage of quality training programs and trainers for up-skilling and re-skilling human resources,” he added.
Utilizing Tech at its Best
Being a prominent B2C player in India’s flourishing consumer durable market, Compaq’s focus remains on customers. It is always quick and receptive to smart technologies which can enhance user experience and customer satisfaction. That’s why CRM and CDP are always the brand’s priorities.
“In addition, anything that can add value to customer experience becomes an integral part of our organizational culture,” Jain concluded.