The transformative shift brought about by technology has positioned the retail sector in India along a new trajectory. More and more retailers are embracing innovative solutions and technology-driven approaches to stay competitive and resilient.
One such trend that is witnessing increased adoption in the retail sector is hyperautomation. Combining various technologies including low-code, artificial intelligence (AI), machine learning (ML), and robotic process automation (RPA), among others, hyperautomation enhances operational efficiency, improves business functions, optimizes supply chain management, and enables personalized customer experiences.
With the retail sector in India undergoing a remarkable transformation, hyperautomation can unlock a realm of new possibilities. In this article, we delve into the incredible potential of hyperautomation to revolutionize the Indian retail industry and some of its profound implications in the digital age.
Streamlining Supply Chain Management
Hyperautomation empowers businesses to swiftly respond to market demands by ensuring the efficient and agile delivery of locally-produced and sourced products. By adding flexibility and adaptability to supply chain management, retailers can guarantee prompt fulfillment of customer needs. Furthermore, efficient supply chain management enhances the customer experience and helps retailers to find a wider customer base for local products across geographies.
Embracing the Omnichannel Approach
Indian consumers are tech-savvy and utilize a range of channels, including mobile apps, WhatsApp, web platforms, and phone calls, to place orders. Hyperautomation seamlessly integrates with these channels, delivering a unified and personalized omnichannel experience to customers. Customers can place orders through mobile apps and then query delivery status via calls or messaging platforms like WhatsApp. This integration enables retailers to provide consistent and real-time information across channels, delivering exceptional customer service and support.
Meeting Diverse Customer Expectations
The densely populated nature of India poses a unique challenge with last-mile product delivery. Hyperautomation enables retailers to overcome this hurdle with cost-effective and efficient shipping and logistics solutions, catering to varied customer preferences. Also, with a diverse market landscape encompassing various cultures, cuisines, tastes, and languages, the need to combine hyperautomation with hyper-localization becomes crucial. The technologies allow high levels of flexibility to meet diverse customer needs and provide user-specific services improving levels of satisfaction and allowing high levels of customization.
Powers Self-Serve Retail
Self-service portals have been thrown into prominence of late. Technologies such as low-code, RPA, AI, and ML enable retailers to revolutionize customer experiences. For example, several grocery delivery platforms have embraced the self-serve approach, allowing customers to access a wide range of products, make purchases, track orders, raise queries, and manage their accounts seamlessly. By eliminating the traditional back-office/front-office model via hyperautomation, retailers can deliver convenient and personalized shopping experiences.
Strengthening Online Security
India’s retail market boasts a massive online presence, with an anticipated 220 million consumers by 2025. The rapid growth of digital payments, especially through the Unified Payments Interface (UPI), has propelled secure transactions at minimal or no cost, providing a significant boost to the retail industry. Hyperautomation provides high levels of security safeguarding the interests of retailers and customers alike, preventing fraud, and ensuring transparency at each stage of operations.
Empowers retailers with data-driven insights
Hyperautomation leverages data-driven insights and predictive algorithms to enable proactive decision-making. Retailers can analyze customer preferences, buying patterns, and market trends to offer personalized product recommendations and tailored promotions. By harnessing the power of data, retailers can enhance customer satisfaction and drive revenue growth.
The bottom line:
Hyperautomation is reshaping the retail sector in India in more ways than one, empowering retailers to thrive in the digital era. Low-code platforms like Appian, alongside other cutting-edge technologies such as RPA, AI, and ML are making it possible for retailers to build intelligent and comprehensive product and supply chain management solutions. It’s evident that by embracing hyperautomation, Indian retailers can unlock their business’s full potential, meet evolving customer demands, and stay ahead in the highly competitive retail landscape.
Narendran Thillaisthanam is the Chief Technology Officer at WNS-Vuram.