The government and industry must collaborate for digitisation and modernisation of kirana stores as they are major part of the Indian retail sector, according to a Deloitte report.
It said traditional and modern retail, including e-commerce, have their own merits that must be integrated to provide a common platform.
As retail markets are evolving from 'bricks-and-clicks' to an intermix model, the brands must use multiple channels to ensure a seamless shopping experience for consumer across all channels, the report added.
"Kirana stores form a major part of the Indian retail and will continue to do so in the near future. Thus, the government and the industry must collaborate for their digitisation and modernisation," the report added.
It also said there is a need to focus on rural markets as overlooking of non-urban centres may lead to undesirable results.
"The strategies must be devised to cater to the demands of all the target segments," it said adding brands need to invest in modern technology, including IoT, artificial intelligence and data analytics throughout the value chain to effectively engage with customers.
Further, it said that personalised advertisements, and leveraging modern technologies can help brands in the retail sector to engage effectively with their consumers.
"Social media sites, company websites, blogs, emails, phone calls and texts, in-store communications, and other physical and online touch points should be used," it added.
Another major trend is need for the vernacular content to cater to the consumers' needs, the Deloitte-Ficci report said.
Disclaimer: No Business Standard Journalist was involved in creation of this content
