Collaborations is need of the hour for the retail sector: IRF 2009

    Collaborations is need of the hour for the retail sector: IRF 2009

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    The ‘Retail Power Track’ at IRF 2009 witnessed a session on IT, Mobile and Gadgets where leading players like Mobile Store, retail, Reliance communication, , Future Axiom and came together to brainstorm on strategies for future of telecom retailing in India.

    Speaking at the session , CEO, Hotspot Retail says, “Margins in this category are extremely thin hence it is critical to define the customers. If one tries to be everything for everyone, you tend to dilute the proposition to customers and it also gets the model to become slower. It is critical to ensure that the format stays relevant to the customers by getting the customer segmentation right which will ensure that all elements – positioning, branding, etc is addressed.”

    Discussing the mantra for success in mobile retailing beyond sheer size and scale, the panelist reached the consensus that investment in training of people is critical however, it remains to be the biggest challenge.

    The panelist also had an engaging discussion on identifying space for collaboration between the three key stakeholders in the industry i.e. manufacturers, operators and modern trade formats, thus ensuring that each player gets a fair share of the customers pie and also avoid duplication whether in operation side or manufacturing.

    — IndiaRetailing Bureau