Hyderabad, Retailers Association of India hosted the first edition of its Hyderabad Retail Summit (HRS) on March 9, 2022 at the Hotel Vivanta Hyderabad. The Hyderabad Retail Summit has been built on the RAI cornerstone of ‘Connect-Converse Collaborate-Catalyse’.
Speaking about the HRS 2022, Kumar Rajagopalan, CEO, Retailers Association of India (RAI), said, “Hyderabad is an important centre of retail and commerce. Recognising this, we are happy to host our retail summit in the city to bring together retail stakeholders with business interests in the region for a common dialogue on relevant issues, digital transformation and consumer delight to help take retail to the next level. 2022 and beyond will be about reinvention and growth for retail and we believe this interaction would pave the way for better collaboration and transformation.”
Honouring the gathering with his August presence as the Chief Guest of the summit was Shri Jayesh Ranjan, IAS, Principal Secretary to Government of Telangana, Industries & Commerce (I&C) Department, & Information Technology, Electronics and Communications (ITE&C) Department, Government of Telangana.
Highlighting key trends in his special address, Shri Jayesh Ranjan said, “Many people are now using OTT and other digital platforms and businesses are making use of them in some way to reach them. Even kirana stores are transforming themselves and getting digital. Hyperlocal is a big trend and Hyperlocal delivery opportunities are going to enhance the business of those kirana stores that are strategically located. Interesting things are happening in other sectors. For instance, manufacturing units are relying on aggregator model for ordering supplies instead of ordering individually. Retailers can borrow from the trends in other sectors and capitalise on opportunities.
Technology is coming into logistics in a large way. Retail technology is helping improve various functions of retail with their innovative solutions. There is a huge amount of appetite and captive audience for modern retail in rural areas. To help fulfil this demand, we are willing to work on the idea of rural malls with retailers. Finally, the Government of Telangana recognises the contribution of retail to the state’s economy and we continue working for its betterment with initiatives like the Made in Telangana portal that encourages local sourcing and trade.”
Sharing the journey of the premium supermarket chain with the audience, Sandeep Agarwal, MD, Ratnadeep Retail Pvt. Ltd. said, “Going forward as a community of retailers we need to adapt to the changing times and technology to stay relevant and profitable. Profitability should be the dharma and the mantra.”
Deliberating on the theme of the summit ‘Retail 2022: Reinventing Business for Robust Growth’ were some prominent faces of the retail industry in the region, namely Avnish
Kumar, MD, Neeru’s; Gautam Gupta, CEO, Paradise Food Court; P Jayakumar, CEO, Apollo Pharmacy; Yash Agarwal, ED, Ratnadeep Retail and Bijou Kurien, Chairman, Retailers Association of India (RAI) moderated the session.
Speaking about the Fashion category, Avnish Kumar, Managing Director, Neeru’s, said, “Light travels faster than sound, but while shopping, for a customer, fashion travels faster than anything. The only mantra for a fashion or an apparel retailer today is to be FAST in identifying, producing and SHELFING Fashion. The year 2022 is one of huge change in fashion as markets have opened up and people are going to be out and about doing a myriad of things that include everything from travelling to attending weddings. Therefore, the right fashion at the right time at your store is the most critical aspect one has to look for to be able to achieve robust growth.”
Speaking about the Healthcare Retail, P Jayakumar, CEO, Apollo Pharmacy, said, “In the last two years, COVID-19 has resulted in a quantum change in how consumers look at personal health and how they spend on it. Consumers are slowly moving towards preventive over curative healthcare. 2022 would be about going back to basics with tremendous focus on customer centricity in every aspect of the business. We will have to bring changes to our range offering, improve efficiency in availability, enhance our consumer experience (Instore and Online). Customers already see us as an omni player, which must be reflected in our stores and on our app.”
Another captivating panel discussion at the summit was on ‘Retailing in the New Normal – Coping with Change, Consumers & Competition’, with panellist namely Krishna Pavan, CMD, Happi Mobiles; Madhukar Gangadi, Founder and CEO, MedPlus Health Services; Muskaan Dadu, Partner, Dadu’s; Niraj Jaipuria, Founder & Director, BIRetail; Surender Bantia, MD, Bantia Furnitures; and Vikash Hisariya, Director, Vishal Peripherals.
Associating with the first edition of HRS 2022 were Ratnadeep Retail as Presenting Partner. Other partners included Neeru’s Ensembles and National Mart as Powered by Partners; American Express as the Banking Partner; Next Spaces as the Silver Partner, Apollo Pharmacy and Taruni Clothing as Associate Partners; Almond House, i-Tek, BI Retail as Event Partners, Donracks as Fixture Partner; Lovely Chocos and Photoexpress as Gifting Partners, Logic ERP as Retail ERP Partner and STOrai as the Magazine Partner.
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, to promote and sustain retail investments in communities from coast to coast, and to enhance consumer choice and industry competitiveness.
This article was shared with Prittle Prattle News as a Press Release.
