On December 6, 2024, at The Park in Kolkata, the Retailers Association of India (RAI) successfully organized the Kolkata Retail Summit (KRS) 2024, also referred to as the Retail Convention of Eastern India. Retailers, service providers, and business executives gathered at this year’s summit to promote cooperation, look at prospects for expansion, and talk about the retail sector’s future, with a particular emphasis on the emergence of omnichannel tactics.
The conference included thought-provoking talks, productive networking opportunities, and a lively debate of new trends influencing the retail industry. KRS 2024 has once again shown itself to be a superb venue for fostering collaboration and innovation in the vibrant retail industry of the region.
Kumar Rajagopalan, CEO of the Retailers Association of India (RAI), discussed KRS 2024 and the retail environment in Eastern India, saying, “The retail sector in Eastern India has seen consistent growth over the past five years and is now undergoing a significant metamorphosis.” In order to adapt conventional business models to changing consumer tastes, retailers in the area are figuring out how to strike a balance between history and innovation. The rise of direct-to-consumer (D2C) brands and the consistent acceptance of ONDC demonstrate the region’s increasing propensity for digital integration. These changes highlight a retail environment that is flexible, welcoming, and ready for long-term expansion.
“The retail industry is at a pivotal moment where integrating physical and digital touchpoints is no longer optional but essential,” stated Priyanka Gupta, Director of Brands at GKB Opticals. Omnichannel shopping is changing how customers engage with companies by bridging the gap between convenience and experience. The secret to remaining competitive in this changing environment going ahead will be using technology to improve customer happiness and personalize services.
“The expansion of retail in emerging markets, particularly in tier-II and tier-III cities, is a testament to the unrealized potential of regional economies,” stated Vikram Bothra, MD & CEO, Chandan Retail Pvt. Ltd. (Askaran Binjraj). These markets are propelling innovation in retail formats and customer involvement due to better infrastructure and rising disposable incomes. The most successful retailers will be those who can swiftly adjust and comprehend local consumer behavior.
Retail today is about striking the correct mix between history and modernity, according to Rochita Dey, Director of Sreeleathers Ltd. Customers want frictionless shopping experiences and innovative product options, even as they cherish legacy and authenticity. In order to foster loyalty and trust in a market that is becoming more and more competitive, retail’s future rests in carefully integrating these components.
Insightful panel discussions on important topics influencing the retail sector were held at KRS 2024. In order to promote sustainable growth, experts examined solutions for “Future-Proofing Retail by Adapting to Evolving Consumer Behavior and Market Dynamics,” emphasizing agility, resilience, and innovation. Digital payments and loyalty programs were highlighted as useful tools to increase productivity and customer happiness at a discussion on “Innovative and Practical Tech Solutions for Retail Growth.” The panelists also talked about “Unlocking Growth Across Diverse Consumer Segments in Retail,” emphasizing the value of inclusiveness and customized methods.
Furthermore, self-made business owners offered their perspectives and motivational tales on “Balancing Heritage with Innovation,” illustrating how companies can foster brand loyalty by fusing heritage and contemporary styles. The summit strengthened its standing as a pillar of the retail ecosystem in Eastern India, encouraging cooperation and creativity for a prosperous future.
Poddar Group’s Ankit Poddar, i-TEK RFID’s Ashim Ashok Patil, Aminia Restaurants’ Azra Asher Ather, Arambagh Foodmart’s Biyas Roy, Legacy of Bhojraj’s Chetan Thakwani, Indian Silk House Agencies & Vcut’s Darshan Dudhoria, Gautam Jatia, Emami Frank Ross, Iffat Jahan, Metto Supermarket, and Wow! Shitanshu Jhunjhunwalla, Turtle; Tanay Agarwal, Skipper Furnishings; Vikram Bothra, Chandan Retail; Momo Foods; Priyanka Gupta, GKB Opticals; Ravindra Khandelwal, Dhanwantary Pharmacy; Rochita Dey, Sreeleathers; Sanjib Das, George Telegraph Group; and others.
The best place for retailers and retail service providers to network, work together, and look for expansion prospects is the Kolkata Retail Summit. With its exciting roster of panel discussions, fireside chats, and networking events this year, KRS gives guests the opportunity to network with customers, industry peers, and possible business partners while learning a lot about the changing retail scene.
About Retailers Association of India:
The collective voice of Indian merchants is represented by the merchants Association of India (RAI). RAI collaborates with all parties involved to establish the ideal conditions for the expansion of India’s contemporary retail sector. In order to support job growth and career opportunities in retail, to encourage and maintain retail investments in communities from coast to coast, and to improve consumer choice and industry competitiveness, it collaborates with stakeholders and all tiers of government in India.
