NEW DELHI: In the post-Covid era, traditional mom-and-pop stores, long a staple of Indian retail, are finding themselves in a fierce competition against new, tech-enabled players. Companies like Frendy, SuperK, and Kirana King are revolutionizing the retail landscape with their self-service outlets and advanced technological integrations, posing a significant threat to the established kirana stores, a report in the Economic Times said.
The rise of new competitors
Tech-driven startups are leveraging technology to streamline operations, enhance customer experience, and optimize supply chains. These new entrants offer a modern retail experience with self-service options and efficient inventory management systems. Their ability to quickly adapt to changing market demands and consumer preferences gives them a competitive edge.
Traditional stores fight back
Despite the challenges, traditional kirana stores are not backing down. Many are adopting digital tools and strategies to stay relevant. They are increasingly using mobile apps for order management, digital payment systems, and online delivery services to enhance customer convenience, the ET report said.
Key industry insights
According to industry experts, the shift towards technology in retail is inevitable. However, the human touch and personalized service provided by traditional mom-and-pop stores remain their unique selling points. The challenge lies in balancing the two to create a hybrid model that leverages the strengths of both approaches.
Voices from the industry
“We sponsor students pursuing research in areas like low power designs, machine learning-based design optimizations, pruning, and quantization for efficient chip designs,” said an AMD India spokesperson. This emphasis on skilling highlights the broader trend of integrating technology across various sectors, including retail.
The rise of new competitors
Tech-driven startups are leveraging technology to streamline operations, enhance customer experience, and optimize supply chains. These new entrants offer a modern retail experience with self-service options and efficient inventory management systems. Their ability to quickly adapt to changing market demands and consumer preferences gives them a competitive edge.
Traditional stores fight back
Despite the challenges, traditional kirana stores are not backing down. Many are adopting digital tools and strategies to stay relevant. They are increasingly using mobile apps for order management, digital payment systems, and online delivery services to enhance customer convenience, the ET report said.
Key industry insights
According to industry experts, the shift towards technology in retail is inevitable. However, the human touch and personalized service provided by traditional mom-and-pop stores remain their unique selling points. The challenge lies in balancing the two to create a hybrid model that leverages the strengths of both approaches.
Voices from the industry
“We sponsor students pursuing research in areas like low power designs, machine learning-based design optimizations, pruning, and quantization for efficient chip designs,” said an AMD India spokesperson. This emphasis on skilling highlights the broader trend of integrating technology across various sectors, including retail.
