News
May 1, 2020
The quintessentially Indian Kirana shop is slowly metamorphosing into the mall next door. Retail in India has completely transformed, but that need not mean losing out the advantage of a small set-up connect. We must look for ways where the power of data can drive our traditional family-connect, by leveraging analytics to create the Segment of ONE!
Today, retailers harness the power of the data that is generated from every single transaction that we place at stores, e-commerce sites or mobile applications. And tend to create extremely personalised offers based on buying patterns. Have we then come to a full circle?
Till the early 1990s, the largely unorganised nature of retail made it dependent on strong personal customer connect. Local areas had shops that had loyal customers for generations, and the bond was very strong. They used a very clear customer strategy, i.e. personal connect with internalised data!
With the launch of the organised retail sector through departmental and multiband stores in Bangalore and Mumbai around 1991, a new world of possibilities opened for the retail segment. It was the decade of economic reforms, and opening up of the economy, driving increasing incomes and rapidly changing lifestyles. By the end of the 90s-decade global brands had entered the fray, and soon the neighbourhood shop was overpowered by a deluge of tempting brand launches. The family connect restricted to smaller towns, but they too soon joined the bandwagon. One big thing that these evolving “organised retailing” drove in India was the ability to scale brands and operations across the country, and this has reshaped the market ever since.
By 2006, organised retail had taken a stronghold in large parts of the Indian markets, and the retail industry was using PoS systems — entering the era of data awareness. Customer data soon became priceless, and the basis of all marketing strategies. As per India Brand Equity Foundation (IBEF), in 2012, the Indian retail sector stood at USD 518 billion and reached US$ 950 billion in 2018. By 2020, it is expected to touch USD 1,150 billion (USD 1.1 trillion), almost doubling in a decade!
Globally the biggest retail stores by now had turnovers that equalled the GDP of a small country — it was a game of volumes after that. The size of data being gathered was humungous, and it was just a matter of time before this data became the soul of retail decisions. But the biggest credit for this growth goes to the fast adoption of data analytics — leading to much better and business-focused insights to strategise growth on.
With the advent of the Cloud, smarter PoS and mobile technologies, data grew exponentially. A recent PWC survey maintains that almost 90% of their retail respondents have been dependent on the analytics of this data for growth strategies.
But there is more.
Clearly, as data took centre stage, the bigger brands found it increasingly difficult to keep the personal touch alive. As product strategies were directed by analytics, it became an economy on the conveyer belt — mass production, mass marketing, and mass sales were happening. In this deluge of data and analysis that could point towards a gold mine of revenue — personalisation was lost.
Since the inception of this decade, a renaissance has been in the creation. While “Data Science” often gets the limelight, it is always not recognised that many of these data science algorithms existed on paper for decades. It becomes quite a challenge to believe that Neural Networks, the class of algorithm that fuels AI today, was theorised in 1951. The missing link was the access to stacks of data required for these data-hungry algorithms, and more essentially the computing power to implement them practically. This has been possible due to the rapid evolution of “Data Engineering” space, where distributed and commoditised data have been consumed to engineer storage, accessibility, and faster as well as cheaper data computability.
Upon convincing properly, retailers can leverage the power of data engineering and data sciences to mimic the brain of the Kirana shop owner for analysing individual customer, their behaviours, and their decision making process minutely. This development has given retailers the best possible way to power up the personalised, hyper-personalised driven data, and new offerings for a Segment of One.
It no longer must be a choice between “Delivering the Personal touch” and “Operating at Scale”. It is a decision to harmonise the two with the help of analytics. In a rapidly converging world, it is perhaps time to amalgamate this top of the line technological ability with the good old human touch – the strength of the traditional Indian retail outlet — catering to each family in a unique way. This is further driven by the availability of massive data, which sets through varied sources and ubiquitous power of computing that hustles up neural technologies. Thus, retailers have the ability to do nifty things like implementing ML and AI to drive much better insights on customer personalisation.
The use of analytics does not limit retailers to reports and sporadic predictive models. For enabling the required competition and leading spree, they require to cultivate the brains of Kirana shop owners to their level. Personalised experience depends on analysing individual customer characteristics. Specific brand loyalty, eliciting unprecedented demands, seasonal buying patterns, lifestyle shifts, preferred communication are few of the data one needs to analyse for a more detailed outlook and here data analytics is the best possible way to get them.
Perhaps it is time to laud the fact that analytics, powered by data engineering and data science, has brought Retail customer-connect to a full circle. The boom in data collation points and the ease of availing extremely evolved analytics, has provided the ultimate weapon to retailers — the ability to cater exclusively to each customer — the Segment of ONE.
Great Customer Offer – The Economic Times
Big Data Analytics -Taking a Deeper Dive, Financial Express
“Is internal comms about to get interesting?”, PR Moments
Training Gen-Y employees to be leaders by Nick Williams, Human Capital
Madhu Menon – CFO, Tesco HSC Participates In Bloomberg India CFO Summit 2014
We are investing more in tech as digital property is the way forward: Tesco CIO, the Economic Times
Company Encourages Employees to Go Green, The New Indian Express
Business Women Get More Opportunity, DNA
In Pursuit Of Happiness_The Hindu Business Line
The Future of Big Data in Retail, Images Retail
Garden away those corporate woes – Bangalore Mirror
Hackathons Morph Into Recruiting Vehicle, The Hindu
Tesco HSC Steps to Clean Karunashraya Lake, Bangalore | CSR Vision
Is Diversity Your Company’s Most Resounding Mantra? by Anju Sethi, Head, Learning and Development, Tesco HSC | CXOtoday.com
Oh Baby! Why women can’t break the IT ceiling | Bangalore Mirror
Decade-old Tesco captive still strong, Business Standard
Glen Attewell Interviewed On NASSCOM Website’s Face 2 Face Column
IndiaCSR: Tesco HSC Launches Sustainability Initiatives For Greener Future
OUR AIM TO PLANT TREES
Plan to protect dwindling wetlands of Bengaluru
NEW LIFE TO PLANTS IN PARK: Eenadu
In Retail, Domain-specific Skills Must For Effective Customer Servicing – TimesJobs.Com
Cos Now Hire Storytellers to Mentor Staff – The Economic Times
Training The Managers, The Tesco Way – HR Katha
Every Bit Counts – Human Capital
Lay The Foundation of IT With Agile Technology – CIO Review
For Children Of Migrant Worker – Bangalore Mirror
When change is the only constant – Times Ascent
Staying power of the new workplace
From Nottingham To Whitefield, Metro Life – Deccan Herald, October 5, 2015
Tesco HSC Announces Corporate Name Change to Tesco Bengaluru
From Seeing The Dawn Of Windows To Being The Director Of Technology For Tesco, Bengaluru, Vidya Laxman’s Journey – YourStory.com
Expat’s Diary: For Tesco Bengaluru’s HR-Head, ‘Passion’ And ‘Relationship’ Hold The Key To Indian Work Culture: HR Katha
Boss’s Day: Be a leader, not a ‘boss’ – Timesjobs.com
Gender Diversity’s Good, But Where Is It? – CXO Today
5 Ways To Appreciate An Employee – The Economic Times
Technology Consulting – What Does the Future Hold? – Consultants Review
Tesco Bengaluru Partners With Lithium Urban Technologies to offer a pioneering and emission-free transportation experience for its employees
Tesco Bengaluru Partners with Lithium Urban Technologies to offer emission-free transportation employees: India CSR
Eco-friendly Cars: Samyuktha Karnataka
Emission-free Transportation : Eenadu
Tesco, Lithium Urban Joins Hands: Deccan Herald
Tesco Bengaluru opts for green transportation with Lithium: The Times of India
Need to Reassess Traditional Approaches: People Matters
Marathon Mania: The Economic Times
Women techies log on to trendy, soft wear – Bangalore Mirror
How Retail Giant Tesco Handled The e-comm Onslaught – The Hindu BusinessLine
Investment In People Makes Good Sense: CXOToday
Deck the halls – Deccan Herald
Seminar on M-commerce Held – The New Indian Express
Looking inside contemporary application architecture – Silicon India
Employee Volunteering is a key element in Tesco’s CSR efforts
Press Release: Tesco Bengaluru Wins Best Practice in Data Analysis Strategy Award
Tesco keen to work with Indian start-up ecosystem – Business Standard
TechGig: Women Achievers: It is important for women in technology to be seen, heard and leave an impact, says Tesco Bengaluru tech director Vidya Laxman
New Indian Express: Women Had a Blast
Bangalore Mirror: City Team Feeding UK’s Hungry
Economic Times: Whitefield Builds a Kingdom of Its Own
Hindustan Times: Want the job? Here’s why you should ditch the professionally-written CV
IndiaCSR: Tesco Bengaluru celebrates World Environment Day
Silicon India: Making Your Organization the Best Workplace
Company CSR: Tesco Bengaluru Supports Sankara Eye Hospital To Enable 430 Free Eye Surgeries
CSR India: Tesco Bengaluru supports Sankara Eye Hospital to enable 430 free eye surgeries
Tesco Bengaluru Plants 6500 Saplings Together with Local Communities to Increase City’s Green Cover
Prajavani: Tesco’s Tree Plantation Drive
TimesJobs.com: A Fresher’s Guide to The Technology Industry
Press Release: Tesco Bengaluru hosts Technology Day – Ignite 2016
Tesco Bengaluru bets on agile market push
Tesco Bengaluru installs e-toilets in Whitefield
Tesco Bengaluru Extends Maternity Leave to 22 Weeks
Forbes: Big Data At Tesco: Real Time Analytics At The UK Grocery Retail Giant
Human Capital: Technology At The Very Helm!
CSR Mart: Eco-friendly Transportation for Colleagues
Mint: Lithium Urban Tech paves the way for EV revolution in India’s cab market
ETRetail: Dev-ops adoption in retail in India
Human Capital: Creation of Measurable Goals
Press Release: Tesco Bengaluru renews its commitment to serving Tesco shoppers and colleagues at dedicated shared service centre
Outlook Business: Ride to rejuvenate
Be Grateful, Positive And Strong Urges Deepa Malik at 2017 IWD Event
ET CIO: Tesco Labs has up to 50 projects on the go at any one time: Tesco Bengaluru’s Priyadarsanie Ramasubramanian
Deccan Herald: Keeping a close watch
Deccan Chronicle: Corporate sector leads way in implementing new maternity bill
The Statesman: Path of progress
YourStory: Tesco’s Glen Attewell: ‘My father was a weaver, mother worked in textiles, they pushed me to succeed’
Press Release: Tesco Bengaluru appoints Sumit Mitra as CEO
ET Retail: Retail supply chain planning and optimization
Financial Express: Maternity Benefit Bill, 2016: From Anand Mahindra to TeamLease and Paypal: Will this hurt employment of more women? Here’s what they said!
World HR Dairy: Maternity Benefit (Amendment) Bill, 2016 increases paid Maternity Leave to 26 weeks in India | Major Highlights and Industry Reaction
TheDrum: Apple, Google, Lego, Tesco and BMW top UK’s most loved brands on social media
Economic Times: Bye-bye corner office: It’s one team, one space
Press Release: Tesco Bengaluru reinforces commitment to sustainable practices through World Environment Day activities
Business World: We Go Beyond The Mandated 2% For CSR: Aniisu Verghese, Tesco
Economic Times: Here is how companies are learning from millennials’ mistakes
Deccan Herald: Rise of AI redefining retail
Financial Express: Tesco Bengaluru CEO Sumit Mitra: We believe in driving a culture of innovation
Economic Times: 5 ways to delegate decision making
The Economic Times: To bridge gender gap, companies going big on innovation
Dr. Sumit Mitra wins ‘CEO of the Year’ at the Future Leaders Summit and Award 2018
Tesco in Bengaluru collaborates with Indian Institute of Science for a technology fellowship programme
Tesco Leaders at NASSCOM Product Conclave 2018
Securing mobile apps – Preventing MiM attack
Bengaluru goes from technology capital to talent hub as e-tailers hunt for IT skills
Tesco establishes a Business Services Centre in Budapest to serve its Central European operations
How to make an organisation an awesome place to work
We are a Great Place To Work® certified organisation.
Applied data scientists – A natural evolution for software engineers?
Tesco Business Services – UK Receives Process Improvement Award at the Engage 19
Tesco collaborates with NASSCOM Foundation to set up its first Nook in Bengaluru
Tesco, Nasscom to improve employability
My First Job: Sumit Mitra,CEO, Tesco Global Business Services
Read interview of Sumit Mitra; he is CEO of TESCO Global Business Services
Shiva Chinnasamy of Tesco on the evolving role of a technology leader
Top 5 Key Skills A Good Data Scientist Should Have
Bengaluru is central to how we run Tesco, says CEO Dave Lewis
Dr. Sumit Mitra – CEO, Tesco Business Services & Tesco Bengaluru is now on Confederation of British Industry (CBI) advisory board for India
NASSCOM Leader Talk: Interview with Dr. Sumit Mitra, CEO – Tesco Business Services & Tesco Bengaluru
Business Today: Tesco Bengaluru Helps Over 320 Underprivileged Youth Stand Tall Through Life Skills and Vocational Training and Job Placements.
TimesJobs.com: Leader’s talk: Sumit Mitra, CEO, Tesco Business Services
Economic Times: Develop The Habit of Collaboration
Entrepreneur India: Make Your Employees Feel Like the Founder
Tesco announces launch of community-based clean water programme in rural Bengaluru
Entrepreneur.com: Why Innovation in Hiring Has Become the Need of the Hour
Tesco Bengaluru appoints Sumit Mitra as CEO
Tesco Bengaluru reinforces commitment to sustainable practices through World Environment Day activities
Tesco Bengaluru renews its commitment to serving Tesco shoppers and colleagues at dedicated shared service centre
Tesco Bengaluru hosts Technology Day – Ignite 2016
Tesco Bengaluru Wins Best Practice in Data Analysis Strategy Award
Economic Times: Companies go liberal in giving time off to new dads
Analytics India: How Tesco Bengaluru Is Working On Using AI, VR And 3D Modelling In Retail Industry
Tesco Bengaluru Participates in Women – Only Hackathon
Tesco Bengaluru inaugurates first community career development Centre in partnerhsip with NASSCOM Foundation
Delivering The Most Compelling Offer For Customers
Tesco Business Services is recognised as one of the top 20 Most Admired Shared Services Organisations in the World by SSON
Waste food to Plant Wealth: Tesco helps farmers with compost
Sustainability Practices at Tesco
Business services of the future: More digital, more intelligent
How Bengaluru kept UK’s Tesco retail ops going during Covid-19
Vidya Laxman, Director, Tesco Technology: A bag full of opportunities will soon overflow with AI
Refuelling India’s Tech Economy
Top skills companies will look for in the post COVID era
How Analytics Is Shaping The Retail Industry In India
BCP PlayBook: Tesco put people at the heart of its COVID-19 resilience plan
Tesco Business Services receives four awards at the ‘Impact Annual Awards Asia 2020’ organized by Shared Services & Outsourcing Network (SSON)
Tesco Bengaluru appoints Ramamoorthy Rajagopal as Finance Director
Tesco Bengaluru Appoints Nimmi Sebastian as Head of Communication & CSR