‘Stores need to have online presence’


With Indian society increasingly going the digital route, Chief Executive Officer (CEO) of Software Paradigms International (SPI) Sid Mookerji has emphasised the need for even brick and mortar stores across the country, which are crying themselves hoarse over fierce competition from e–commerce companies firms, to have an online presence.

Many people now do research on products and services on the Internet before actually buying them, said Mr. Mookerji, who heads SPI that offers products and services to large retailers across the globe like Macy’s, Walmart, Carrefour, Napa and 1-800-Flowers.

Visits to malls reduce

Between 2010 and 2014, the number of visitors to malls in the United States (US) actually halved, but sales went up by 10 per cent, he said.

“Also, according to a study, 72 per cent of the sales at malls are influenced digitally, either on a mobile device or the Internet,” he said.

“So, every retailer now has to think about how to do that or they will lose,” Mr. Mookerji warned.

SPI, headquartered in Atlanta, but has a large development centre with a workforce of more than 1,000 in Mysuru, has no clients in India.

Increasing revenue

Mr. Mookerji said that their clients were all well over $ 10 billion in revenue. “There are only two retailers that are more than $ 1 billion in India right now,” he saidThey are Futures Group and Reliance, which had reached the level only in the last two to three years.

All other retailers in India are below the $ 1 billion mark, who don’t need the kind of services and products that companies like SPI provide.

However, he said now the company has products suiting smaller retailers too.

Retailers, which have brick and mortar stores, need to get on the Internet and a mobile device, showing the store front and their inventory, he said hoping the number of retailers in India doing a business of more than $ 5 billion per annum will also grow in the coming days.

People research about products and services on the Internet before buying them

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Printable version | Dec 12, 2019 9:55:22 PM | https://www.thehindu.com/news/national/karnataka/stores-need-to-have-online-presence/article7436513.ece

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