The session ‘Retail Power track’ on food and grocery at India Retail Forum (IRF) – 2009, which was chaired by Sadashiv Nayak, president, Big Bazaar & Food Bazaar. Speaking on the opportunities of the food & grocery organised trade in India, Nayak says, “Most important points to be taken into consideration by FMCG companies to sustain in the business are data synchronisation and use of fundamental principals of retail to initiate effective collaboration with retail.”
Pradeep Sen, MD India, NCR Corporation says, “Technology helps in tracking what will sell and what not. This will help in bringing down the opportunity loss due to unavailability of the product.” He further impressed upon the need for collaboration between retailer and FMCG in developing supply chain.
The panel discussion on fashion concluded with consensus amongst the panelists that quality and value of product are key aspects to match people’s mindset. The primary and basic demand of the consumers is different and innovative ‘product’ and not ‘brand’.
IRF ’09 also witnessed an interesting panel discussion on restaurants and food courts which put forth the need for consistency, affordability, innovation, speed of services, quality and variety of food available for success.
— IndiaRetailing Bureau