-
Digital Natives
Unlock growth with Grant Thornton Bharat's Digital Natives solutions. Customised support for tech-driven companies in healthcare, gaming, and more.
-
Business Consulting
Our business consulting specialists offer a comprehensive blend of strategic advisory services. We assess the business, industry, operating model, synergy, skill sets and vision of the organisation and recommend the way forward
-
Digital Transformation Services
Grant Thornton’s digital transformation services help traditional businesses digitalise their business models with cloud technology, IoT consulting, app development and more DigiTech solutions.
-
Human Capital Consulting
Our Human Capital Consulting team harnesses technology and industry expertise to assist in constructing adaptable organisations with transparency, fostering productive and value-driven workforces, and inspiring employees to engage meaningfully in their tasks.
-
Production Linked Incentive Scheme
Production-linked Incentive Scheme by the Indian government is aimed at boosting manufacturing. Grant Thornton Bharat offers varied services across sectors to help businesses avail of this scheme.
-
Public Sector Advisory
Our Public Sector Advisory team has focused streams, aligned with the core priorities of the Government of India. We are responsible for providing innovative and customized technical and managerial solutions.
-
Tech Advisory
We have amalgamated Digital Transformation, IT Advisory & Information Management and Analytics into a new offering, DigiTech.
-
Direct Tax services
Our tax specialists offer a comprehensive blend of tax services, tax litigation, regulatory and compliance services, helping you navigate through complex business matters.
-
Indirect Tax Services
Get tax services by leading tax firm Grant Thornton India. Our indirect tax services include consulting, compliance and litigation services for corporate, international and transaction tax
-
Transfer pricing services
Our transfer pricing services experts provide a range of services from provision of APA services to handling large global assignments including Country by Country reporting.
-
US Tax
At Grant Thornton, we help individuals and dynamic companies deal with US tax laws, which are one of the most complicated tax legislations across the world.
-
Financial Services - Tax
Best financial advisory services, tailored for small and large businesses by the experts having comprehensive knowledge of domestic laws and access to multifaceted tools to provide a valuable results.
-
Financial Reporting consulting services
Our experts have significant hands-on experience in providing IFRS/US GAAP services, end-to-end solutions and support services to fulfil financial reporting requirements.
-
Fund accounting and financial reporting
International operations often lack standardisation and have varied local reporting formats and requirements. Our experts can offer proactive insights, practical guidance, and positive progress and help meet regulatory timeframes.
-
Compliance and Secretarial Services
Our experts can assist in overhauling the entire compliance machinery of the organisation through evaluation of the applicable statutory obligations, monitoring of adequate governance controls, reporting and providing ongoing support.
-
Global People Solutions
As businesses transcend borders, both domestic and global considerations need equal attention. Our interim CFO and financial controller support services help organisations meet the business vision.
-
Finance and accounting outsourcing
Our accounting experts assist organisations in managing their accounting and reporting. Our dedicated Integrated Knowledge and Capability Centre (IKCC), allows us to service both the domestic and global markets efficiently and cost-effectively
-
Compliance Management System
We have automation solutions for you that will allow meeting government requirements and remain diligent, which when failed, can lead to penalties and loss in revenue.
-
IKCC: Grant Thornton's Shared Service Centre
The India Knowledge and Capability Centre (IKCC), aimed at delivering solutions by developing capabilities, has completed four years of its journey.
-
Global compliance and reporting solutions
At Grant Thornton Bharat, we meet the challenges of our clients and help them unlock their potential for growth. Our professionals offer solutions tailored to meet our clients’ global accounting and statutory reporting requirements. With first-hand experience of local reporting requirements in more than 145+ locations worldwide, we provide seamless and consistent international service delivery through a single point of contact.
-
Related Party Transactions Governance
Grant Thornton Bharat's comprehensive related-party transaction services ensure good governance by adhering to regulatory requirements, promoting transparency, and providing robust policies for compliance, documentation, and accountability in related-party transactions.
-
Private Client Services
Grant Thornton Bharat Private Client Services offers tailored advisory for family-owned businesses, focusing on governance, compliance, tax, succession planning, and family office structuring to sustain wealth and preserve legacies across generations.
-
GTMitra: Tax & Regulatory Tool
GTMitra, a specialised tax and regulatory tool by Grant Thornton Bharat, supports multinational businesses in understanding laws and regulations for effective growth strategies.
-
Labour codes
Labour codes solutions help you transition through the new legislation. At Grant Thornton, we help businesses divide their approach to make sure a smooth transition.
-
Alerts
At Grant Thornton India, with the help of our tax alerts, we help to provide updates on how to minimise your tax exposure and risks.
-
Cyber
In today’s time, businesses have gone through large transformation initiatives such as adoption of digital technologies, transition to cloud, use of advanced technologies et al.
-
Governance, Risk & Operations
Our Governance, Risk and Operations (GRO) services encompass Internal Audit, Enterprise Risk Management, Internal Financial Controls, IT advisory, Standard Operating Procedures and other services.
-
Risk analytics
Grant Thornton Bharat’s CLEARR Insights is a state-of-the art data analytics platform that will help you in seamless data analysis and efficient decision-making.
-
Forensic & Investigation Services
The team of forensic advisory services experts consists of the best intelligence corporate experts, and fraud risk, computer forensic experts to deliver most effective solutions to dynamic Indian businesses.
-
ESG consulting
Grant Thornton Bharat offers holistic ESG consulting solutions for sustainable business outcomes. With industry expertise and AI technology, we drive long-term value.
-
Transaction Tax Services
Our transaction tax experts understand your business, anticipate your needs and come up with robust tax solutions that help you achieve business objectives ensuring compliance and efficiency
-
Deal Advisory
Unlike other M&A advisory firm in India, we offer deal advisory services and work exclusively with controlled and well-designed strategies to help businesses grow, expand and create value.
-
Due Diligence
Grant Thornton’s financial due diligence services are aimed at corporate looking for mergers and acquisitions, private equity firms evaluating investments and businesses/promoters considering sale/divestment.
-
Valuations
As one of the leading valuation consultants in India, Grant Thornton specializes in all the aspects of the process like business valuation services, financial reporting, tax issues, etc.
-
Overseas Listing
Overseas listing presents a perfect platform for mid-sized Indian companies with global ambitions. Grant Thornton’s team of experts in listings, work closely with clients during all stages.
-
Debt & Special Situations Solutions
Grant Thornton Bharat offers specialist debt and special situations consulting services, including restructuring, insolvency, and asset tracing solutions.
-
Financial Reporting Advisory Services
Grant Thornton Bharat Financial Reporting Advisory Services offer end-to-end solutions for complex financial requirements, including GAAP conversions, IPO support, and hedge accounting advisory, ensuring accurate financial reporting and compliance.
-
Financial Statement Audit and Attestation Services
Grant Thornton Bharat offers customised financial statement audit and attestation services, ensuring impeccable quality and compliance with global standards. Our partner-led approach, technical expertise, and market credibility ensure effective solutions for your business needs.
- Agriculture
- Asset management
- Automotive and EV
- Aviation
- Banking
- Education and ed-tech
- Energy & Renewables
- Engineering & industrial products
- FinTech
- FMCG & consumer goods
- Food processing
- Gaming
- Healthcare
- Urban infrastructure
- Insurance
- Media
- Medical devices
- Metals & Mining
- NBFC
- Pharma, bio tech & life sciences
- Real estate and REITs
- Retail & E-commerce
- Specialty chemicals
- Sports
- Technology
- Telecom
- Transportation & logistics
- Tourism & hospitality
-
Article Agriculture and Budget: Immediate compulsions and long-term visionGovernment focuses on sustainable agriculture, digital infrastructure, and market intelligence to enhance productivity and global competitiveness in agriculture.
-
Article Union Budget 2024 expectations: Building resilience for consumer industryUnion Budget 2024 expectations: Building resilience for consumer industry
-
Thought Leadership Grain to gain: Impact of corn on India’s biofuel revolutionExplore Grant Thornton insights on unlocking India’s Energy Potential on Corn-Based Ethanol as a sustainable fuel solution.
-
Case study Transforming agriculture: The rise of Drone DidisDiscover how Grant Thornton Bharat's Drone Didis initiative empowers rural women and transforms agriculture with drone technology. Learn more about this success.
-
India-UK
India-UK
AI is transforming retail sectors like beauty, fashion, and luxury by enhancing customer engagement and personalisation. From virtual makeup try-ons to dynamic pricing in travel, AI-driven innovations are improving user experiences and operational efficiency. The article explores how AI's predictive analytics and cross-sector collaborations are revolutionising various industries.
AI is revolutionising how retailers engage with customers, streamline operations, and drive growth. This shift is particularly evident in sectors such as personal care, beauty, fashion, and luxury, where AI enhances customer satisfaction and boosts revenue. By improving personalised shopping experiences and refining dynamic pricing models, AI opens new avenues for retailers to deliver more tailored and impactful interactions.
Elevating personalisation in beauty and luxury retail
In the beauty and luxury sectors, AI-powered personalisation has transformed the shopping experience, offering tailored recommendations and interactive content such as makeup tutorials and influencer-driven fashion reviews. For example, AI-driven virtual makeup try-ons allow customers to see how products will look on them before purchasing, and some AI-powered skincare diagnostics provide personalised skincare routines based on individual skin profiles. This fusion of discovery and entertainment creates an immersive journey, building loyal communities.
Leveraging voice tech
Similarly, voice commerce enhances this personalised experience by allowing customers to engage with brands hands-free through voice assistants. Luxury brands suggest products based on previous purchases, offer personalised beauty routines, or provide real-time updates on exclusive launches. By integrating voice search and personalised services, these brands elevate customer engagement, ensuring a seamless, highly tailored shopping experience that mirrors the exclusivity and convenience expected in beauty and luxury retail. AI’s ability to understand and anticipate customer needs has become crucial, particularly in beauty e-commerce, where personalisation drives almost 80% of repeat purchases.
Smarter dynamic pricing strategies in travel sector
AI is not only enhancing personalisation but also optimising pricing strategies by analysing customer behaviour and price sensitivity. Dynamic pricing on travel ticket booking platforms uses advanced algorithms to adjust fares based on factors such as train routes, booking history, ticket value, phone type, and the time of day. This ensures frequent users get the best prices quickly by analysing their preferences and travel patterns. This smarter pricing strategy delivers convenience and personalised affordability in real-time.
Enhancing customer service with AI
Enhancing customer support with AI allows platforms to address customer dissatisfaction proactively. AI plays a crucial role in multilingual customer service, where chatbots can seamlessly switch languages based on the customer’s input, enhancing user experience. For example, if an AI model detects a customer’s negative experience during a previous conversation—through analysing tone, sentiment, or language—it can flag the issue for the support team. The next day, the team could follow up with the customer via a personalised call to address their concerns directly.
Harnessing legacy data for predictive analytics
AI leverages legacy data to refine predictions and improve customer interactions over time, learning from past behaviours and preferences. For example, brands use data accumulated over the past decade, including details like customer medical history, to tailor insurance recommendations. This allows the platform to identify where higher margins are likely and where lower margins might occur, optimising sales strategies. While storing legacy data for such analytics was costly, advancements over the past 15 years have significantly reduced storage costs, making it more feasible to harness long-term data for accurate and personalised predictions.
Cross-sector collaboration and AI’s role
AI’s influence extends beyond individual businesses, fostering collaboration across different sectors. For instance, customers often need furniture and other home essentials after purchasing a house. By collaborating across sectors, such as real estate, furniture retailers, and logistics providers, businesses can create a seamless experience for the customer. AI can facilitate this by analysing data from different industries to predict customer needs and streamline the supply chain. For example, real estate companies can partner with furniture retailers and logistics firms to offer integrated services, ensuring that the furniture delivery is synchronised with the move-in schedule.
Harnessing AI to its full potential
In the rapidly evolving world of retail and e-commerce, embracing AI technology offers significant opportunities for enhancement.
- Embrace Value Chain Collaboration in Non compete Industries: Integrating the latest AI innovations, such as deep tech and facial recognition, through collaborations with external startups, can significantly enhance the customer experience. This approach not only provides fresh, innovative solutions but also positions companies at the forefront of technological advancement.
- Ensure data accuracy: Maintaining accurate and up-to-date learning datasets is crucial. Adapting to changes in data schemas ensures that AI models remain relevant and effective, leading to more precise insights and predictions.
- Leverage reliable data sources: Sourcing data directly from trusted and authoritative institutions is essential for health tech platforms. This practice guarantees high accuracy and reliability, which is vital for achieving effective AI-driven outcomes.
- Optimise sales strategies: Analysing call timing can reveal important patterns, such as the higher urgency of evening calls. Prioritising these interactions can improve conversion rates and boost the effectiveness of sales strategies.
- Accurate prediction of customer ordering behaviour in Geographic Cluster to formulate the warehousing and SKU decision.
Focusing on these key areas can help businesses harness the full potential of AI, driving improved customer engagement, better data management, and enhanced sales performance.
This article first appeared in ET Retail.com on 23 September 2024.