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THE CHANGING SIGNIFICANCE OF A BRAND

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Retailer’s brand and the consumer conversation are becoming significantly crucial. But that does not, of course, mean no one bothers about a brand. It is still the most important, as it denotes status.

One of the most fundamental things for any brand and retailer to understand today is the aspiration-quality-price priorities of the modern consumer and the new-age digital savvy consumer. To tap into newer growth opportunities, retailers must also wake up to the recognition that half of India’s rich live there in sub-urban India away from the metros, and their price-value-aspirations are different from the similar metro consumers.

On the first day of the largest annual congregation of retailers was unveiled at the India Retail Forum 2015, industry leaders on the inaugural day discussed the changing dynamics of a brand identity.

, CEO – Rentco, DLF, said, “ Never underestimate the consumer, have your omnichannel presence in such a way that comsumer remains the king.”

, MD, Cinépolis India, said, “We can’t detach brand from the product, the experiential retail is very significant and I don’t see it getting replaced.”

Talking about the importance of brand in today’s time, , CEO, , “ The entire world of cinemas has changed in past 4-5 years. Technology can help your brand to be presented in a better light but brand is the ultimate goal.”

Talking about the impact of digital media, Javier Sotomayor, MD, Cinépolis India, “ We are really big on social media. Digital media helps us big time it even helps in increasing are store sales.”

In the concluding remarks, , MD, , said, “ Keep the brand relevant and give comfort to the patrons- that is the role of technology. Technology is the means to create brand equity. Digital is a new age way for doing things but creating a brand is of utmost importance.”

The eminent panel for this intriguing session included some of the stalwarts of the retail industry- Abhishek Ganguly, MD, Puma India; Marvin Bernstein, Managing Partner and Global CEO, Skechers Inc., USA,;Alok Tandon, CEO, Inox Leisure; Brendan Dorrian, Head of Retail, Fawaz A. Alhokair & Co: Javier Sotomayor, MD, Cinépolis India; , Global Vice President, ,; Sriram Khattar, CEO – Rentco, DLF; , MD, .