Digital Transformation in Global Retail Industry and Scope for Indian Retailers

Abstract

The digital revolution has transformed the way companies interact with customers, creating an
environment where marketing, information and technology must work together. Retail and consumer
goods (R&C) companies are in the midst of a transformation unlike any before in their history. Although
there have been times of disruption and competitive fervour in the past, today’s R&C environment is
marked by huge changes in technology, consumer preferences, sales channels, marketing approaches,
barriers to entry, and supply chain and logistics strategies. No company in this sector can afford to ignore
these massive shifts.
Indeed, it all fits under the umbrella of Industry 4.0 — and there are several steps that R&C companies
must consider when they confront the new landscape. In recent years, retail and consumer goods
companies focused primarily on digitizing their customer interface. Now, the digital integration of the
end-to-end value chain becomes a strategic priority. This includes digitization of product and service
offerings; developing innovative digital business models; digitization and integration of supply chains;
and adopting data and analytics as a core capability.
This paper aims to investigate the digital transformations happening in the global retail industry mostly
focusing on Industry 4.0 and what are the trends GCC retailers can adopt in their business to improve the
productivity.