Speaking at the session entitled ‘Winning Retail Strategy’ on the second day of the India Retail Forum 2008 being held in Mumbai, D Shivakumar, vice president and managing director, Nokia India, advised retailers and manufacturers to act collaboratively to understand the consumer.
Shivakumar opined, “We are moving from an independent era to a dependent era. Most of the manufacturers are moving from R&D to C&D (connect and develop) with the help of institutions. Thus, it also becomes necessary for retailers to understand the branding and value proposition.”
According to him, Indian retailers face four challenges in today’s environment. “The first major problem is the number of brands. Irrespective of the growth, there might be space for brand propositions, but no space for more brands,” said Shivakumar.
He further said that there is surplus in the supply of labour but lack of talent, managing the supply chain and the lack of very basic level of understanding about consumers and retail are the issues that Indian retailers need to address for the industry to grow in a planned and organised manner.
– Ananya Saha