Technopak Advisors’ 8th Marketing and Retail Conclave 2007 (erstwhile KSA Retail Summit) was inaugurated at Taj Palace Hotel, New Delhi, with interactive workshops for retail, consumer goods and service industry professionals. Internationally renowned industry experts addressed the assemblage, exchanging ideas on emerging trends in retailing and marketing. It is expected that solutions and viable models for the existing challenges in the industry will surface during the ensuing sessions. The retail sector is reflecting the rapid growth of the Indian economy and is poised to cross US$450 billion in revenue in 2011 – and US$650 billion by 2016.
The agenda for this year’s Marketing and Retail Conclave is to emphasize knowledge dissemination through its pioneering and much-acclaimed Technopak workshops. Industry leaders conducted 24 workshops in a classroom format on day one. The focus of the conference beginning February 23 is on building successful retail businesses and on the agenda is a gamut of issues faced in marketing and retail. Case studies of successful national and international brands in consumer goods in the retail space would be used as material for discussions.
To quote Arvind Singhal, CEO, Technopak, “The concept of new-generation retailing is fast catching up in India. Unlike yesteryears, today Indian consumers are ready for a truly international shopping experience. The retail business is undergoing a major metamorphosis and I am confident that this conclave will address many challenges faced by the retail sector. I see many modern and innovative concepts redefining retail practices in India.”
Currently, the market share of modern retail is just over four per cent of the total retail industry, which means there is a huge untapped opportunity here. The sector is expected to see an investment of over US$30 billion in the next 4-5 years. Technopak estimates that modern retail in India will be worth US$175-200 billion by 2016. The Technopak conclave will also assist the smaller and standalone retail outlets, while analysing the case for own-label branding and modernization of supply chain management. Besides, there will be a separate focus on agriculture and rural retail to help boost the rural economy of the country.
Among the prominent speakers at the workshops and the conferences are: Rajiv Agarwal, CEO, Essar Retail, India; Vikram Bakshi, MD, McDonald’s India (North and East); Bengt Eriksson, MD (Middle East), Landor Associates; David Blair, global business development director, Fitch (UK); Jaspreet Bindra, country manager, MSN (India); Rodney Fitch, chairman, Fitch (UK); Krish Iyer, MD, Watsons (The Philippines); William Pace, CEO, KSA; Sanjay Badhe, VP, Aditya Birla Group; Michael Foley, Foley Designs; BS Nagesh, CCA and MD, Shoppers’ Stop; Vladimir Terziev, chairman, Vesch Retail, Russia; Filiberto Jimenez Dias, president, Waldo’s, Mexico; and Mohammed Adil, CEO, Geant Saudi Limited, Middle East.
Rodney Fitch, chairman of UK-based global design studio Fitch, shared his optimism about India’s retail destiny and opined, “As Indian companies move to acquire major global companies, they might buy out major international retailers as well.”
A trend to be noted, according to Rodney Fitch, is the growing share of online shopping. In the United Kingdom, for instance, online shopping grew nearly 50 per cent in 2006. He added, “In fact, eBay might become the world’s largest retailer and also open physical stores to connect with the large eBay community for touch-and-feel interaction.”