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Tag: Retailers Association of India (RAI)

Bengaluru Retail Summit 2024: Unveiling the Future of Retail

Jul 26, 2024 by Mansi 0 Comments #Bengaluru Retail Summit, #Bengaluru Retail Summit 2024, #bigbasket, #Brigade Group, #Britannia Industries Ltd, #Britannia Industries Ltd V Muhammad Ali - CEO, #BRS, #CEO, #CEO & Executive Director, #Co-Founder & CEO, #Consulting Business Leader for Retail, #CPG, #Drolls India Pvt Ltd Chandru Kalro, #EasyBuy, #Enabling Growth, #Enabling Growth” & “Mastering the Market: Transforming Insights into Growth Opportunities, #Ganesan V P, #Hari Menon, #Healux International Pvt. Ltd Deepak Singh - Director & CEO Saturo Technologies Sumit Jasoria, #i – TEK RFID Hari Menon - Co-founder & CEO - Big Basket Dr Shashank Sinha, #IBM, #Italian Colony David R Stanley – Founder & Managing Director, #Johnson Verghese - Managing Director - Fossil Group India Karan Mehta - CEO, #Jt Managing Director, #Karan Mehta, #Kumar Rajagopalan, #Landmark Group, #Landmark Group Rajneet Kohli - CEO & ED, #Managing Director, #MD & CEO, #NEWME, #Nirupa Shankar, #Pharma & LS Industries – India South Asia, #Prestige Group Manohar Chatlani - MD Retail India Pvt Ltd, #RAI, #Rajneet Kohli, #Retail, #Retail Sector, #Retail Technology: Powering Business, #Retailers Association of India (RAI), #Revolutionize Retail with AI Everywhere, #Sheraton Grand Bangalore, #Soch Apparels Pvt Ltd Subhash Chandra - MD Sangeetha Mobiles Mrunmay Mehta - CEO, #Strategies for Retail Success: Navigating a Constantly Evolving Market”, #Tech Adoption: Integrating Digital Innovations with Physical Presence, #thought leaders, #Transportation, #Travel, #TTK Prestige Chintan Mehta – Founder, #WOW Skin Science Ashim Ashok Patel

Bengaluru, July 24th, 2024: The Retailers Association of India (RAI) successfully held the second edition of the Bengaluru Retail Summit, a premier event that brought together the brightest minds and influential leaders from the retail industry. Held at the Sheraton Grand Bangalore, the summit emerged as a melting pot of transformative ideas, emerging trends, and invaluable networking opportunities. Against the vibrant backdrop of Bengaluru’s retail culture, it served as a pivotal platform for retailers and brands to engage in impactful discussions, collectively shaping the future of retail in India.

Speaking about the summit, Kumar Rajagopalan, CEO, Retailers Association of India (RAI), said, “India’s retail sector stands at the cusp of profound transformation. The dynamic discussions on strategies for retail success, the seamless integration of digital innovations, and the latest retail ideas have highlighted how industry leaders are navigating this constantly evolving market. Our focus on mastering the market and innovating is diverse. With a burgeoning middle class, expanding digital infrastructure, and strategic government initiatives, we anticipate a dynamic era of growth and innovation. These advancements position the retail sector as a pivotal driver of economic vitality and consumer empowerment in the years ahead.”

Highlights of the Bengaluru Retail Summit 2024 by RAI was the keynote address on ‘Revolutionize Retail with AI Everywhere’ by Ganesan V P, Consulting Business Leader for Retail, CPG, Travel, Transportation, Pharma & LS Industries – India South Asia, IBM.

The summit also hosted two stimulating Fireside Chats with Rajneet Kohli, CEO & Executive Director, Britannia Industries Ltd, and with Nirupa Shankar, Jt Managing Director, Brigade Group.

Bengaluru Retail Summit 2024 Unveiling the Future of Retail 1

Expressing delight at the second edition of BRS, Rajneet Kohli, CEO & Executive Director, Britannia Industries Ltd said, “The future of retail lies in seamlessly blending technology with the human touch. Using data-driven insights to understand consumer preferences and deliver tailored experiences will drive growth and foster deeper customer loyalty.”

Hari Menon, Co-Founder & CEO, Bigbasket said, “The retail industry is at a pivotal point where digital transformation is crucial. Integrating online and offline channels is essential to meet evolving consumer demands. Innovation in logistics and personalized services will be the key drivers of future retail success.”

Karan Mehta, CEO, Easybuy, Landmark Group said, “Understanding and responding to diverse customer needs is more important than ever. By harnessing advanced analytics and staying ahead of emerging trends, retailers can create personalized and engaging shopping experiences, ensuring sustained growth and competitiveness.”

The summit witnessed captivating discussions on topics such asStrategies for Retail Success: Navigating a Constantly Evolving Market” “Tech Adoption: Integrating Digital Innovations with Physical Presence” “Retail Technology: Powering Business, Enabling Growth” & “Mastering the Market: Transforming Insights into Growth Opportunities.”

industry leaders speaking at the summit included:

Johnson Verghese – Managing Director – Fossil Group India

Karan Mehta – CEO, Landmark Group

Rajneet Kohli – CEO & ED, Britannia Industries Ltd

V Muhammad Ali – CEO, Retail, Prestige Group

Manohar Chatlani – MD Retail India Pvt Ltd, Soch Apparels Pvt Ltd

Subhash Chandra – MD Sangeetha Mobiles

Mrunmay Mehta – CEO, WOW Skin Science

Ashim Ashok Patel, MD & CEO, i – TEK RFID

Hari Menon – Co-founder & CEO – Big Basket

Dr Shashank Sinha, CEO, Drolls India Pvt Ltd

Chandru Kalro, Managing Director, TTK Prestige

Chintan Mehta – Founder, Italian Colony

David R Stanley – Founder & Managing Director, Healux International Pvt. Ltd

Deepak Singh – Director & CEO Saturo Technologies

Sumit Jasoria, Co-Founder & CEO, NEWME

These thought leaders shared their insights on the latest trends, challenges, and opportunities within the retail sector, fostering a rich environment of knowledge exchange and collaboration. The event’s successful execution has set a benchmark for industry gatherings, reaffirming Bengaluru’s status as a central hub for retail excellence.

About RAI:

Retailers Association of India (RAI) is the unified voice of Indian retailers. RAI works with all the stakeholders for creating the right environment for the growth of the modern retail industry in India. It is a strong advocate for retailing in India and works with all levels of government and stakeholders to support employment growth and career opportunities in retail, promote and sustain retail investments in communities from coast to coast, and enhance consumer choice and industry competitiveness.

Retail’s Brightest Minds Convene at Retail Leadership Summit 2024 to Forge Future Pathways

Mar 4, 2024 by Sujata 0 Comments #Abhishek Bansal, #Amazon (US and India), #Amazon (US and India) and Vivek Somareddy, #ANAROCK, #Anujj Puri, #APAC International Stores, #Ashwin Khasgiwala, #Avjit Mitra, #Avnish Anand - CaratLane; Avnish Kumar, #Being Human Clothing; Sanjay Vakharia, #bigbasket, #bigbasket; Johnson Verghese, #Bijou Kurien, #Celio Future Fashion; Gautam Saraogi, #CEO, #CEO & Co-founder, #CEO of the Middle East Council of Shopping Centres (MECSC) and the International Council of Shopping Centres (ICSC), #Chairman, #Co-Founder & CEO, #Croma, #Darpan Mehta, #David Macadam, #Dhiraj Agarwal, #Dhishoom Cinemas., #Director, #Emerging Markets, #Executive Director, #Forum Malls; Rajneesh Mahajan, #Fossil India; Nissan Joseph, #Founder & MD, #Go Fashion (India) Ltd (Go Colors);, #Hari Menon, #Infiniti Retail; Hari Menon, #Inorbit Mall; Sagar Daryani, #Inorbit Malls and Shibu Phillips, #International Council of Shopping Centres (ICSC), #Lalit Agarwal, #Lalit Agarwal - V-Mart Retail; Sagar Daryani, #Lulu group. While on the brands side were Manish Kapoor, #MD & CEO, #Metro Brands; Rajneesh Mahajan, #Middle East Council of Shopping Centres (MECSC), #Neeru's; Sanjay Vakharia, #Nexus Malls; Muhammed Ali, #Pacific Group; Dalip Sehgal, #Parul Gulati, #Pepe Jeans; Rajesh Jain, #Rajesh Jain, #Reliance Retail Limited, #Retailers Association of India (RAI), #Seller Experience and Global Trade, #Shopping Malls, #Sports & Leisure Apparel (Lacoste India), #Sports & Leisure Apparel Ltd; Sanjeev Rao, #Spykar Lifestyles;, #Spykar; P Jayakumar - Apollo Pharmacy; Rajiv Nair - Kaya Ltd; Samir Srivastav- Looks Salon; Satyen Momaya, #Trent, #Tushar Dhingra, #V-Mart Retail, #VP, #Wow! Momo Foods, #Wow! Momo Foods; Venkatesalu P

March 4, 2024, Mumbai: The Retail Leadership Summit 2024 (RLS 2024), organised by the Retailers Association of India (RAI), took place on February 28 and 29 at the Hotel Westin Powai Lake, Mumbai. This annual event brings together the brightest minds in retail to explore forward-thinking strategies within the industry.

Retail's Brightest Minds Convene at Retail Leadership Summit 2024 to Forge Future Pathways 2

Welcoming the audience at RLS 2024, Kumar Rajagopalan, Chief Executive Officer, Retailers Association of India (RAI), said, “In 2023, the retail industry witnessed a tale of two halves: robust growth initially, followed by a plateau. This reflects the criticality of aligning with market dynamics and consumer needs. We’re observing a transformative shift, with retailers blending digital and physical experiences to create seamless consumer journeys. The key to future success lies in harnessing the power of omnichannel strategies and understanding the evolving consumer preference for convenience and trust. As we move forward, embracing innovation and agile responses to market trends will be pivotal in shaping the retail landscape.

Setting the tone for the summit, Bijou Kurien, Chairman, Retailers Association of India (RAI), expressed,  “The retail industry in India is poised for significant growth in the year ahead. Driven by an 8%+ growth in GDP in Q3 FY’24 and based on steady investment by the Government and Private sector, consumption is bound to grow. The combination of online commerce coupled with offline expansion, driven by a more technology savvy consumer with greater aspirations would herald significant changes in retail structure, and channel strategy. Retailers and brands are gearing up for aggressive growth, particularly eyeing tier 2 cities for deeper market penetration. This strategic focus not only indicates a broadening of access for consumers but also signifies a shift towards tapping into the burgeoning demand in emerging urban centres. This optimistic outlook underscores the sector’s resilience and its pivotal role in the broader economic landscape of India.”

Retail's Brightest Minds Convene at Retail Leadership Summit 2024 to Forge Future Pathways 1

Highlights of RLS 2024 included presentations and knowledge reports by RAI-Boston Consulting Group report titled ‘Unlocking the $2Tn retail opportunity by 2030: An activist agenda’, RAI-Deloitte report titled ‘Future of Retail: Profitable Growth through Technology and AI’, RAI-KPMG report titled ‘Achieving seamless commerce in India’ and PWC report titled ‘How India shops online: Consumer preferences in the metropolises and tier-1, 2, 3, 4 cities’. Furthermore, Best Retail Workplaces 2024 report by RAI – Great Place To Work was unveiled and the respective teams were felicitated.

The Summit saw the participation retail leaders, as well as top names in the retail service provider space. Retail stalwarts speaking at the summit included Hari Menon, CEO & Co-Founder, bigbasket, Lalit Agarwal – V-Mart Retail; Sagar Daryani, Co-Founder & CEO, Wow! Momo Foods, Avnish Anand – CaratLane; Avnish Kumar, Director, Neeru’s; Sanjay Vakharia, CEO, Spykar; P Jayakumar – Apollo Pharmacy; Rajiv Nair – Kaya Ltd; Samir Srivastav- Looks Salon; Satyen Momaya, CEO, Celio Future Fashion; Gautam Saraogi, CEO, Go Fashion (India) Ltd (Go Colors); among many others.

Speaking during the panel discussion on RLS 2024, Lalit Agarwal, Founder & MD, V-Mart Retail, discussed creating experiences in retail that resonate deeply with customers, especially budget-conscious customers, to make them feel smart and stylish within their means. He emphasised on emotional connection through personalised service and storytelling, making customers feel valued and understood. Lalit Agarwal advocates for building strong brand connections that extend beyond the store, through all interactions, including advertisements. This approach aims to turn customers into authentic influencers, leveraging word-of-mouth for brand promotion. The key is continuous engagement and storytelling, which ensures customer loyalty and organic growth.

Noting the importance of strategy differences across retail categories, Rajesh Jain, MD & CEO, Sports & Leisure Apparel (Lacoste India), highlighted the approach in the premium fashion segment, emphasising a uniform customer experience across online and offline channels without price differentiation except during season-end sales. He said that this strategy aims to cultivate customer habits and preferences for purchasing channels, whether for convenience online or the experience in-store. By maintaining consistent pricing and service, customers understand the brand’s value proposition, reducing their expectation for discounts and fostering brand loyalty.

Furthermore, Darpan Mehta, Director Tax, APAC International Stores, Amazon (US and India) and Vivek Somareddy, VP, Emerging Markets, Seller Experience and Global Trade, Amazon (US and India) made a presentation on “Unlocking Mechanisms and Working Capital for Business Expansion”.

Additionally, the second day of RLS 2024 featured a keynote speech by David Macadam, CEO of the Middle East Council of Shopping Centres (MECSC) and the International Council of Shopping Centres (ICSC). This was succeeded by a dynamic panel discussion titled ‘Mahasangram: Retail and Retail Real Estate,’ bringing together prominent figures from both retail real estate and retail industries for an engaging exchange of ideas.

Mall Developers participating in the discussion were Abhishek Bansal, Executive Director, Pacific Group; Dalip Sehgal, CEO, Nexus Malls; Muhammed Ali, CEO, Forum Malls; Rajneesh Mahajan, CEO, Inorbit Malls and Shibu Phillips, Director, Shopping Malls, Lulu group. While on the brands side were Manish Kapoor, MD & CEO, Pepe Jeans; Rajesh Jain, MD & CEO, Sports & Leisure Apparel Ltd; Sanjeev Rao, CEO, Being Human Clothing; Sanjay Vakharia, CEO, Spykar Lifestyles; and Tushar Dhingra, Co-founder & CEO, Dhishoom Cinemas.

In his keynote address at the summit before the Mahasangram Session, David Macadam, CEO, Middle East Council of Shopping Centres (MECSC), International Council of Shopping Centres (ICSC), shared insights on the evolution of experiential retail and e-commerce. He discussed the challenges and opportunities within the retail industry, emphasizing the importance of adapting to consumer demands for experiential and sustainable shopping experiences. Macadam highlighted the significant role of AI and technology in retail, the impact of mixed-use developments, and strategies for business development. He advocated for embracing change, prioritizing customer experience, and leveraging strategic partnerships to navigate the retail landscape successfully.

Retail's Brightest Minds Convene at Retail Leadership Summit 2024 to Forge Future Pathways 3

Day 2 of RLS 2024 also had a dedicated D2C segment that saw participation of leaders of top D2C brands namely, Dhiraj Agarwal, Founder, Campus Sutra; Sneh Jain, Managing Director, The Baker’s Dozen; Harsh Lal, Co-Founder, The Souled Store. A scintillating Fireside chat with Parul Gulati, Actor & Founder of Nish Hair (featured on Shark Tank India). This segment explored the unconventional strategies that has enable these brands to achieve immense success in a short frame of time.

Parallelly to RLS 2024 was an extensive session of ‘Retail Store Design’ that saw participation of top retailers and brands deliberating on topics such as ‘Future of Retail Design: Exploring Emerging Trends and Technologies’, ‘Balancing Design and Functionality in Retail Spaces’, a captivating Fireside Chat and  a Masterclass on ‘The art of curating memorable and meaning customer journey’.

The advisory board of RLS 2024 includes Anujj Puri, ANAROCK, Ashwin Khasgiwala, Reliance Retail Limited; Avjit Mitra, Croma, Infiniti Retail; Hari Menon, bigbasket; Johnson Verghese, Fossil India; Nissan Joseph, Metro Brands; Rajneesh Mahajan, Inorbit Mall; Sagar Daryani, Wow! Momo Foods; Venkatesalu P, Trent.

The first day of RLS 2024 came to a close with the grand felicitation of the crème de la crème of the retail industry with India’s Retail Champions Award 2024 and the Retail Start-up Awards 2024, both evaluated by eminent personalities from the industry as the Jury.

Winners of India’s Retail Champions Awards 2024 were:

 

Categories Name of the Company Name of the Brand
Apparel & Lifestyle The Souled Store The Souled Store
Apparel & Lifestyle Raymond Lifestyle Ethnix
Apparel & Lifestyle Spykar Lifestyle Pvt Ltd Spykar
Apparel & Lifestyle Brand Concepts Ltd BAGLINE, House of Luxury Bags
Beauty Himalaya Wellness Company Himalaya Wellness
Wellness Wellness Forever Wellness Forever
Wellness Apollo Pharmacy Limited Apollo Pharmacy
Consumer Durables & IT (CDIT) Vijay Sales (India) Private Limited Vijay Sales
Consumer Durables & IT (CDIT) Infiniti Retail Ltd Croma
D2C Cleardekho Eyewear Pvt Ltd ClearDekho
Department store Shoppers Stop Limited Shoppers Stop
Food & General Retail (Large format over 5,000 sq. ft) LULU Group International LULU HYPER MARKET
Food & General Retail (Small format below 5,000 sq. ft) Reliance Retail Limited Reliance Fresh Signature
Footwear Metro brands Ltd Footwear
Footwear Liberty shoes Ltd. Footwear
Home Decor / Home Improvement Godrej & Boyce Mfg Co Ltd Godrej Interio
Jewellery Reliance Jewels (Reliance Retail) Reliance Jewels
Restaurant & QSR Apsara Ice Creams LLP Apsara Ice Creams
Restaurant & QSR Dindigul Thalappakatti Dindigul Thalappakatti
Speciality Retail Ample Technologies Private Limited Monobrand Stoes of Apple, ASICS, UA and Bose. Apple Store brand name “Imagine”
Success Story of 2024 Trent Zudio

2024’s Most Notable Retail Startups Announced by Retailers Association of India (RAI)

Mumbai, March 4th, 2024: In a grand ceremony during the Retail Leadership Summit 2024, the Retailers Association of India (RAI) unveiled the winners of the esteemed ‘Retail Startup Awards.’ This marks the seventh annual celebration of this event, aimed at spotlighting the most groundbreaking retail startups poised for significant impact in 2024. The awards instituted by RAI, are designed to honor entrepreneurial innovation within the retail sector.

RAI Retail STartUp Awards Winners (4)

The ‘Retail Startup Awards’ by RAI serve as a testament to the entrepreneurial spirit, acknowledging those who have transformed their visions and ideas into tangible, successful businesses. These awards shine a light on the unique contributions startups are making to the retail industry, bridging market gaps while enhancing customer experience through convenience and innovation.

“Through the awards, we’ve observed a vibrant variety of startups from every corner of India, showcasing the vast opportunities the retail sector has to offer to entrepreneurs across the country. It’s inspiring to see such innovative solutions coming forward, truly enriching the retail landscape. The winners of this year’s awards have demonstrated exceptional value to the industry, and we’re excited to celebrate their achievements,” commented Dr. Hitesh Bhatt, Director of Marketing and Communication at the Retailers Association of India (RAI).

The Retail Leadership Summit 2024 provided the perfect backdrop for the awards, underscoring RAI’s commitment to fostering innovation and entrepreneurship within India’s retail industry.

The entries were evaluated by the over-set criteria and a final shortlist of 10 innovative retail startups was presented to the grand jury comprising of Amit Sarda, Managing Director, Soulflower, and Arun Ganapathy, CFO, House of Anita Dongre.

The three retail startups that have emerged as the winners of the RAI Retail Startup Awards 2024:

Winners: GoPizza India

1st Runner Up: Nandus Foods Pvt Ltd

2nd Runner-Up: The Yellow Dwelling

The final shortlisted retail startups besides the winners were: Kelo Consumer Brands, Off & On, Tris Online Shopping, and Unihawk Ventures.