From market place to multi-brand, why India’s retail policies must evolve
In retail, India can be ahead of the curve in adoption of omnichannel and even use of artificial intelligence or voice-assisted sales
Much has been written about last week’s announcement of Walmart Inc. purchasing India’s largest online retailer Flipkart for a hefty $16 billion. Yes, the announcement is about the imminent future of retail, about consolidation and omni-channel. It is also about Walmart taking its arch rival Amazon head-on in what the former described as one of the world’s most attractive retail markets. But that’s not all. It’s also about the company’s decade-long tumultuous journey in India unfolding as it looks at selling directly to the consumer. It’s about India being the global testbed for some of the world’s largest companies. It’s about survival.