With digital payments picking up post-demonetisation, retailers are cashing-in on the opportunity for technology upgradation.
Retailers such as Future Group and Dubai-based Landmark group are working on cashier-less stores, reports Financial Express.
Kishore Biyani, The Future Group’s Chief Executive Officer, while speaking on The Indian Retail Forum, said “We already have 10 cashier-less stores operational and are planning to roll out other stores as well.”
He also spoke at length about how technology is transforming consumer culture in India and said his Easyday stores are membership-based and cashier-less transactions will be done through an app wherein customers can scan the products they want to purchase on the phone and do the billing.
“Since we now know about the buying behaviour of the consumer, our factories will now plan their production based on the data,” Biyani said. He also said he believed that technology reduced space, time and increased customer interaction.
While smartphones are disrupting business, media and experiences, its influences on sales are on the rise with increasing co-existence of offline and online retail. The impact of mobile technology on business indicates the presence of a market sized at $66 billion, which constitutes 65 per cent of branded sales. While 76 per cent of mobile users explore products, 42 per cent use it for transactions and purchases.
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.