1 year ago
SAP: Tech Agility Essential for Retail's Future Success
Retail stores must be able to quickly change their ways of selling to keep up with what customers want and what is happening in the world.
SAP says technology is very important for this.
They are working on new tech for stores, like a special store in India where shopping is easy with new technology.
Businesses are expected to spend more and more on tech in retail.
This new tech helps stores try out new ideas without big risks and it keeps customers happy.
SAP's André Bechtold says retailers need tech agility.
Global IT spending in retail is forecast to reach $283.8 billion by 2029.
Retailers must adapt quickly to changing market conditions.
SAP and Compass Group India created the S-Market in Bengaluru, India.
S-Market offers a frictionless shopping experience and tests retail technologies.
- Who
- SAP's André Bechtold and Compass Group India are key figures.
- What
- Retail businesses need technological agility.
- Where
- The S-Market is in Bengaluru, India, with over 26 global experience centers.
- When
- IT spending in retail is forecast through 2029.
- Why
- To stay competitive and adapt to market changes.
Key facts
- Main Topic
- Retail Technology
- Company
- SAP
- Key Figure
- André Bechtold
- IT Spending Forecast
- $283.8 billion by 2029
- Partnership
- SAP & Compass Group India
- Location
- Bengaluru, India
Quotes
Andre Bechtold
President & Head of SAP Industries & Experience, SAP SE
“The zone is based on real productive environments, so customers can see this is real software, not just a showcase. It’s also a new experience for our developers because they can build innovation for a productive landscape -- a customer environment, with a reduced risk of breaking it. It’s a win-win situation for us and customers because you can mitigate the risk while testing innovation. We can also demonstrate to our developers what they have worked on.”
thehindubusinessline.com
“Retail is always at the forefront of innovation, even during macroeconomic changes. During Covid, players not flexible enough to alter their commerce channel, from in-store to digital and back, fell behind. Customers must have the technical flexibility to react quickly because in retail, if you lose a consumer once, you need to double or triple the investment to get them back.”
thehindubusinessline.com
Vikas Chawla
MD and CEO of Compass Group India
“We’ve been at it since the blueprint stage in terms of designing this together. We believe it’s a best-in-class innovation and is the first frictionless market in India. It is a market that has wings to fly across customers as their needs evolve in terms of providing convenience.”
thehindubusinessline.com




