The inaugural edition of the South India Retail Summit (SIRS), presented by India Retail Forum (IRF), kick started today at the ITC Gardenia, Bengaluru with an opening presentation by Rashmi Nair, Associate Director, Deals Strategy PwC, offering detailed and in-depth insights on consumer behaviour in south India.
Speaking to an audience comprising CEOs, business, marketing and operational heads of retail and retail support businesses from across India, Nair’s presentation revealed that most South Indian consumers still continue to be highly price conscious. Referring to consumers across Kerala, Tamil Nadu, Karnataka, Telangana and Andhra Pradesh, Nair however pointed out despite the generalised leaning toward price consciousness, there are also many consumers willing to spend a premium on certain products. "Brands are a way for consumers to tap into an aspirational lifestyle. They value variety," she noted.
According to Nair, there has been a significant rise in offtakes of jewellery, savouries (especially biscuits), ethnicwear, beauty and wellness products in south India.
The one-day SIRS will be hosting several conference sessions through the day on all key aspects of retailing in the modern age, featuring topics on technology, omnichannel empowerment, experiential retail and shopping centre innovation. The event’s mission is to focus on ‘Building successful retail models and growing the retail ecosystem in a technology and digitally-enhanced retail atmosphere to delight new age consumers’.