This report aims to understand some of these questions by taking a fresh look at the journey of these retailers in order to unravel and piece together what it takes to grow profitably in this market.
Historically, retail companies the world over have focussed on increasing their store footprint for growth. Digital transformation gradually led to the proliferation of multiple channels and today, retailers have moved to a consumer-centric operating model which is solution-oriented and anticipatory to changes in consumer behavior.
PwC’s Pulse Survey underscored the determined intent of companies across industries to tap into the inevitable rural juggernaut fuelled by the rising income levels and middle-class aspirations as well as continued investments in infrastructure in rural and ‘rurban’ areas.
PwC and India Retail Forum are pleased to present our report titled ‘Are you Profitability Ready?’ that traces key trends and challenges influencing profitability for Indian retailers.
With consumers as the principal drivers of change in the industry, decision-making has become more complex than ever before. Every day, retailers are faced with a range of difficult questions concerning the best course of action for their businesses.
Continuing with PwC’s global exercise from last year, our firms across the world have evaluated consumer shopping behaviours and the use of different channels in the retail industry. In an expanded, comprehensive survey, we cover more than 19,000 respondents in 19 countries across six continents. In India, our team obtained more than a 1,000 completed responses that have provided data to analyse and evaluate at great depth the changing retail landscape in the country.
