Retail Intelligence is a tool that provides a strategic decision making activities and demonstrates the importance of retail geography and retail intelligent network planning. The importance of sophisticated and intelligent spatial analysis techniques in dealing with range of location, distribution and channel management issues which now face retail and service business.
Retail Intelligence provides proactive exception management that immediately identifies opportunities, recommends courses of action, and automates routine tasks. Driven by business rules that determine and monitors business activities in real time and alerts staff members to exceptions or the next business process. This reduces the amount of time spent identifying and solving routine supply-chain problems, letting you cut labor costs and focus on more strategic initiatives.
Retail Intelligence provides a tool-set for building rules-based exceptions against transaction and decision support systems. Retail Intelligence is a productivity-enhancing tool for retailers. It closes the loop between information and action, enabling them to have the right product in the right place and time—and at the right price and quantity. The Indian retail market is expected to continue its growth trajectory into 2015. Mall management has been identified as a critical factor for the success of malls and the retail industry across the world. Shopping centers are impacting our towns and cities like it had never been imagined. They are becoming our new community spaces, driving consumption and becoming a symbol of our Urbanization.
They are generating employment, both during and after development, boosting consumption and taking our economy to greater heights. Developing Shopping Centers in India is fraught with risks & challenges, ranging from regulatory and infrastructural issues to understanding demographics, developing leasing strategies, occupancy/ absorption fears, competition, people issues, managing budgets, timelines and quality, valuation ambiguities and a lack of knowledge. Indian Shopping Centre developers discuss the key challenges they have faced and are facing, in developing malls in India, and their key learning’s.
Organized retailing in India witnessed a gross turnover of USD 320 billion in 2006.Athough this figure is compared with other developed economies, industry experts expect the growth rate of this sector at 35% until 2010.At present, about 100 malls are operational at a pan-india level with a total area of 19 million sq ft. As per the current estimates, about 300 additional malls are to be expected to be constructed across the country by 2010.
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