Unlocking the INR 400 Bn EBITDA Opportunity With Advanced Analytics and AI in Retail
Boston Consulting Group (BCG) in association with Retailers Association of India (RAI) has released its annual flagship report detailing how Advanced analytics and AI are rapidly transforming the retail industry worldwide, the potential opportunity in India, and how Indian retailers can unlock substantial value. The report estimates that over the next five years, India's retail industry has the potential to generate INR 400 Bn in incremental EBITDA. Indian retailers are bullish about the power and relevance of AI and advanced analytics, with many leading retailers already using them across the value chain to unlock value.
The report also recommends that as retailers in India embark on this transformative journey, it is prudent to initially focus on the use-cases that are critical to their sub-sector and learn from the experiences of global leaders who have successfully implemented and gained sustained impact from Advanced analytics and AI. Furthermore, the report outlines a roadmap for Indian retailers to build the right capability and navigate the journey effectively.