Brick-and-mortar stores will continue to demonstrate impressive versatility & it’s essential status

Brick-and-mortar stores will continue to demonstrate impressive versatility & it’s essential status

The Retail Committee, PHD Chamber Commerce and Industry organised the 2nd edition of the Virtual Series on “Retail 3600; The Future of Retail”.

Dr Yogesh Srivastav in his welcome address greeted the eminent panelists, and emphasised the efforts of the Retail Committee for organising such webinars so that the mood of Retail Sector is known and customers are encouraged to shop post Covid 19.

Mr. Shashvat Somany, Chairman, Retail Committee, in his theme address laid a foundation of the discussion on how disruption like pandemic has affected the Retail Industry and there is an eminent need to rethink and re-strategies the business models.

Technical session observed Eminent panellists such as Ms. Riddhi Adlakha, Head Digital Marketing TCS; Mr. Harsh Vardhan Chauhaan, VP, Marketing and Omnichannel Spencer’s Retail & Natures basket; Mr. Jiten R Mahendra , Sr VP, Marketing MAX Fashion India; Mr. Smerth Khanna, Business Head, E-commerce Dabur India; Ms Megha Malagatti, Business Development Director, L’Oreal; Mr Sanjay Singal ITC Dairy & Beverages; Mr Nikhil Maheshwari, Associate Vice President Somany Home Innovation Limited and Mr Radhikesh Sinha Marketing Head Doorset Group.

Ms Adlakha from TCS in her deliberation state that consumers are choosing convenience over anything nowadays and digital transformation should be across the business spectrum rather than strategies.

Mr Chauhaan from Spencer Retail express his concerns over Digital transformation where he said that it is the most talked subject about but very less executed. Also, he mentioned that modern pricing strategies turns out to be more personalised and loyal customers are benefitting of that. Moreover, he mentioned that Stores of the future will be customer centric and leverage technology to enhance customer experience.

Mr. Khanna from Dabur India highlighted the uniqueness of Indian consumer base as compared to global consumers and suggested that universal strategies wouldn’t be applicable to Indian consumer market and more personalisation and customisation is required here. He also highlighted how the Growth and innovation is the key to success.

Ms Malagatti from L’Oreal highlighted how L’Oreal has revamped its logistics affairs to reduce carbon footprint and as a brand it has emerged victorious amid the pandemic season.

Mr, Singal from ITC in his deliberation talked about how ITC managed to reach the consumers in the early days of the Pandemic through neighbourhood mom & pop stores.

Mr. Sinha from Dorset explained how the non-essential commodity industry took the worst hit amid Pandemic and how through innovation and new products the industry identified the opportunities in these difficult times.

Mr. Saurabh Bansal, Co-Chairman, Retail Committee, PHD Chamber of Commerce and Industry, in his remarks thanked the panellists of the first session for sparing their valuable time and addressing the intended audience and stakeholders, further he said that Retailers will need to go out of their way to make their stores a destination, and also provide convenience by ensuring that the routine elements of a shopping trip are painless.

Mr. Krittivas Dalmia, Co-Chairman, Retail Committee, PHD Chamber of Commerce and Industry, in his concluding remarks thanked the panellists of the second session where he highlighted how companies must evaluate their values and be prepared to share them with consumers.

Webinar was overall moderated by Dr Yogesh Srivastav and more than 100 delegates participated. The session was duly supported by Hindware Appliances as presenting partner, Dorset Group as co-powered partner and JIMS, Sharda University & Lovely Professional University as Institutional partner.

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