The first-ever South India Retail Summit commenced this morning with an eye-opening presentation and talk by Rashmi Nair, Associate Director, Deals Strategy, PwC who delivered noteworthy insights on key characteristics defining consumer behaviour in south India.
Read: South India Retail Summit 2015 kicks off in Bengaluru
Later in the day at the one-day retail business event, during the Inaugural and Keynote Addresses (on ‘Growth and Opportunities in Retail’ and ‘The Role of Omnichannel in Growing the Retail Ecosystem’), session chair BS Nagesh, Founder of TRRAIN, held an exciting discussion on growth oppotunities in retail and the role of omni-channel models.
Joining the panel for the discussion were Alok Dubey, CEO, Arvind Lifestyle Brands; Falguni Nayar, Founder and CEO, Nykaa.com; Lavanya Nalli, President, Nalli Group; Viney Singh, MD, Max Hypermarket (Spar); and Neeraj Biyani, Director and Co-Founder, Paper Boat.
The group presented gave a general overview of the retail industry and how it has transformed over the past few years. All noted that technology has been the most powerful influencer of this dynamic market, with mobile apps, data research and analytics being some of main features of retail strategy and consumer behaviour. Referring to modern shopping behaviour, Lavanya Nalli, President, Nalli Group asserted, "The young consumer is not like anything we have seen before. They display sheer drive and optimism."
Elaborating on the adoption of omni-channel models, Viney Singh, MD, Max Hypermarket (Spar) emphasised, "Customers need the option of shopping anywhere, anytime."
He noted that omni-channel retailing provides a platform that can be further calibrated into new models. "The changing landscape has not changed principles of the retail
business, but there has been a change in distribution channels,’ he said.