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The Indian Retail Industry is one of the largest and fastest growing among all the other industries in the world. It has emerged as one of the most dynamic and fast-paced industries because of the entry of many new private players and their increasing participation accounting more than 10% of the country’s Gross Domestic Product (GDP) & 8% of the employment. So, it is said that India is the world’s fifth largest retail destination globally as this field showing gradually inching its way towards becoming the next boom industry.

India’s price competitiveness attracts large retail players to use it as a sourcing base. But all players have not yet succeeded because of the heavy initial investments that are required to compete among other competitor companies to remain ahead in the long run. Retail Industry is not only an essential part of our economic structure but also mould our lifestyle. The modern retail account to only 10% accounts of the market value of $600 Billion but is expected to increase to 15%-18% by 2020 driven by income growth, urbanization and attitudinal shifts.

In the last 15 years, the sector has witnessed a CAGR of 7.46% and is expected to show more than 16.5% compounded annual growth in the next 5 years by 2020.

Retail Classification:

The Indian Retail industry can be broadly classified into two categories namely- Organized and Unorganized retail. Organized retail – Organized traders/retailers, who are licensed for trading activities and registered to pay taxes to the government. Unorganized retail – It consists of unauthorized small shops – conventional Kirana shops, general stores, corner shops among various other small retail outlets – but remain as the radiating force of Indian retail industry.

The Indian Retail sector has come off age and has gone through a major transformation over the last decade with a noticeable shift towards an organized retailing. As of now, the organized retail sector has contributed to 8% of the total trade and is expected to reach to 24% in the next five years. Healthy economic growth, changing demographic profile, increase in disposable incomes, urbanization, growing & changing consumer tastes and preferences are some of the key factors for driving growth in the organized retail sector market in India.

Apart from this, India has been ranked 3rd in the world after China and Brazil in terms of Net Retail Sales as it has been noticed that Food and Grocery account for close to 70% of the total sales in India and Jewellery account close to 6% which is expected to increase to 8% by 2020.

Key Growth Drivers of Retail Industry in India

Nuclearization of Families
An Increase in households incomes
Large working population
Reasonable Real estate prices
Increase in disposable income and customer aspiration
Demand as well as increase in expenditure for luxury items
Growing preference for branded products and higher aspirations
Growing liberalization of the FDI policy in the past decade
Increasing urbanization
The overall retail market of India has the potential to grow from $630 billion to $1,100-1,200 billion by 2020 as the Indian Retail sector will reap the benefits of a large and young population adding to the workforce, 70 per cent increase in income levels, Rapid urbanization and growing trend towards nuclear families, new technology and lifestyle trends creating replacement demand, etc.

Although the opportunity is massive, Indian retailers would need to transform themselves to win as with the GST coming in; productivity will go up along with manufacturing and retailing. With that we can participate in the consumption and growth story in India too.

The Road Ahead:

E-commerce is expanding steadily in the country due to which it is probably creating the biggest revolution in the Indian retail industry and this trend would continue in the years to come.
Organized retail is a new phenomenon in India and the market is growing very rapidly. The middle class growing very rapidly that is an important factor which is contributing in the growth of Indian retail sector. According to the report up to 2030, it is estimated that 21 million household will be converted into 91 million households who are in ‘middle class’. But for this both organized and unorganized retail companies have to work together to ensure better prospects for the overall retail industry in India while generating new benefits for their customers.

As per the announcement done by Salesforce in its Winter 17 release, Salesforce Lightning is the future CRM of Salesforce, the company also assured that the new Salesforce Lightning platform will change the way the users were using Salesforce platform so far. This new featured Lightning platform of Salesforce will provide a new designing and development environment to its users. Company also assured that it will also make the Salesforce app development task easier and simpler by providing the easy development environment to its users.

However Salesforce launched this new feature rich platform for its users, but also declared that Visualforce will also remain in existence. They have declared that Visualforce will not be outdated but no new feature will be added in Visualforce from now onwards. All the new features and releases will only be added into Lightning. The companies using Salesforce Classic must try to migrate to Salesforce Lightning and the Salesforce Developers must also develop the apps for Salesforce Lightning from now onwards.

List of Salesforce Lightning Features
A number of new features are added in the new Salesforce Lightning version, including Skype Call, Merge of Duplicate Leads, Quotes to opportunities, Kanban view and updated navigation. Apart from these basic features Salesforce also added a few new features into Salesforce Lightning like customization of Sales paths and Sales charts, through which sales people can easily manage and move the sales operation or sales deal easily. Through Sales paths they can also track any lead and check its progress, opportunity and contact the customers right from their dashboard without leaving their personal account. Through this new Salesforce Lightning the designers can easily design a new customized interface using drag and drop feature.

As a number of Salesforce users asked to add the easy to use features in Salesforce Classic, so the company launched this new Salesforce Lightning with a few useful and amazing features. Now the user can easily build the new customized components for Lightning application and even after developing these components they can be directly added to the Salesforce dashboard just through drag and drop. On the dashboard the user can either add existing Lightning components or the newly created ones. Due to drag and drop feature both Salesforce developer and non developer can now use Salesforce Lightning platform to build their customized components.

A few of the newly launched Salesforce Features are:

1) App Launcher and new apps
2) Easy Navigational menu
3) Multiple record creation facility
4) Option to save the records
5) Through Lightning help up to field level
6) Reply to the email just from the Salesforce
7) Product Addition through scheduling
Merging of identification of the duplicate lead
9) Quotes addition to opportunities
10) Skype Calling and chat
11) Subscription of report
12) Manage and track the campaigns, leads and contracts
13) Voice Calling
14) Pop up messages now actionable
Salesforce keep on launching the videos and tutorials for Lightning, which are useful for Salesforce developers and users both. User can easily access, view and learn the newly launched Lightning features. All the new features are added as per the user requirement in Salesforce Lightning. Through this new customizable, efficient, slicker and prettier interface Salesforce has tried to help its users to make their work quite easier. Now even Salesforce has become more useful and easy to use for both Salesforce developers and administrators. By learning the new features user can create the new customizable components for their business operations and even without any specific and knowledge of Salesforce platform.

Learning Platform
The new Salesforce Lightning platform is intuitive and elegant and can be easily used to create and customize the Lightning components, after that they can also be easily brought to the record page. Salesforce users even recommend this cloud based CRM platform to others, if they want to succeed in their business. Following resources may also help to learn the Salesforce, which are made available by Salesforce itself:

Trailhead: Easily accessible platform of Salesforce with all training material.
Pre-Release request
Dreamforce through which user can access Lightning Sessions
The Lightning platform is provided by Salesforce to develop the desktop and mobile friendly and compatible Salesforce components. Now the Salesforce Lightning components can be used through any device and at anytime. Any of the Sales representatives can use these Lightning components to generate the leads and manage the campaigns and even manage their other tasks as well. Now the customer information and data can be used by them to access the customer information at anytime whenever they require. They can access any of the customer related record easily and the customized salesforce app development can be used to manage any of the organizational specific operation.

Mobile banking applications are changing the way we do transaction with the bank beyond what we imagined 2 years back. In this digital transformation, all banks, including multinational corporate banks as well as traditional government controlled banks are in the race for mobile banking application development.

The ability to deliver innovative banking application that is anywhere-any time, is the latest mantra to ensure customer loyalty, increased business and customer satisfaction.

To address the different mobile operating system platform like apple iOS, android, blackberry, etc., banks have had to build their applications which conform to each operating system’s strength and weakness.

Security Concerns

It is important that any financial transaction requires a concrete security mechanism to avoid frauds. Banks are also spending huge amounts to ensure multiple layers of security for its mobile banking application development which is important to establish customer confidence in this new way of banking.

Banks need to be more and more vigilant on its mobile banking apps development since this new age banking platform is yet to completely reveal the security threat it pose to the banking sector. It carries many risks, including malware on apps, fake banking applications created by fraudsters, hacking and the risk arises out when you lost your phone.

Solving Security concerns

For a robust mobile application development, the important points which enjoy prime focus is the user-friendliness, security and its integration with the existing banking network. Some of the core features bank needs to ensure while searching for a vendor for mobile banking app development is; in addition to core banking functionality, it should carry, CRM support, messaging and alert and subscriber registration support.

A lightweight application will enhance the customer experience. The mobile banking application development team need to foresee rapid changes in the banking sector and the platform must be ready to adapt these changes quickly. It is also important that the core banking system and its customer support mechanism also be competent and ready to suit the innovative functionalities and features of the mobile banking applications.

Smart phones and mobile technologies are going to make an exploding impact the way and purpose we use mobile application.