The report elaborates on how technology is improving informal retail sector growth in Africa and India
‘How technology is unlocking informal sector growth in Africa and India -The New Normal’ report by global retail specialist Smollan represents some of the international FMCG (fast-moving consumer goods) and commerce brands and elaborates on how technology is improving informal retail sector growth in Africa and India.
Around the developing world, informal retail continues to be a powerful social force, employing millions of people, driving economic activity, and providing essential goods and services for the under-served.
The report gives an idea about why informal retail is continuing to thrive in India as well as the African continent and elucidates the five technology themes that will drive sector transformation now and in the near future along with case studies.
It elaborates on the important considerations during the adoption of technology in informal sectors in order to receive technology’s intended benefits. The report also explains the four principles that underpin the foundations of a technology-enabled engagement strategy with the informal sector,
Key findings of the report are as follows:
- Five emerging themes driving sector transformation are point of sale technology, mobile technology, rising internet penetration, growth of social media and Fourth Industrial Revolution (4IR).
- Important considerations during the adoption of technology are access to broadband internet, high data costs in emerging markets, formalisation through technology, and penetration into traditional markets by formal retail through technology
- Key element to operating in the informal economy is to understand it, the operations, how business is done and what traders require.
