In the last two years, the retail sector has been through a roller coaster journey constantly, it faced shrinkage in demand due to the closing of stores and the pressure of shifting to digital mode. Ravi Aggarwal, Managing Director- of Signatureglobal (India) talked about the functioning of retail during the pandemic and said that when malls were not operating, the retail industry was operating full-time.
Aggarwal also mentioned that in the two years we have seen a devil kind of thing, now the mindset of customers is getting changed.
Sidhant Keswani, Founder, Libas pointed out the changing pattern of the retail industry and customer behaviour after the pandemic, Keswani said, “Now the next big thing is to build an ecosystem, customers post-pandemic are used to getting product on time and sitting at home, they are used to this ecosystem.”
Rakesh Kaul – CEO & Whole Time Director, of Hindware Home Innovation, said “It was very important for us to evolve and embrace the consumers’ journey, there we decided to go digital-first.”
Kaul also informed that the digital-first journey of his company gave them reach to 1500 towns and 12000 pin codes in a matter of 3 and half years.
He also stressed the role of technology, Kaul said that technology will give the scale, it will help you to understand the consumer and also will bring down the cost to a significant level.
Sameer Manglani, Owner, of Meena Bazaar, emphasised the balance between digital and offline modes in retailing, as apart from people who want to explore online, there are a set of people who want to discover fashion offline, they want to see the latest collection of fashion in real.
The eminent set of panels witnessing the different yet positive shift in the retail industry and anticipating accelerated growth and a satisfied customer base in post covid era.