On November 20, 2024, in New Delhi, the Retailers Association of India (RAI) successfully staged the much awaited Retail India Summit & Expo (RISE) 2024. bringing together a remarkable array of innovators, retail service providers, and industry leaders in one location. The event centred around the future of retail, highlighting advancements in digital technology, Artificial Intelligence, big data, and supply chain automation. Key discussions focused on leveraging these technologies to meet evolving consumer expectations and enhance the customer experience.
With an emphasis on improving consumer experiences and making the most of retail spaces, the Expo included advancements in digital tools, in-store solutions, and retail real estate. RISE 2024 demonstrated how the industry is changing to satisfy the demands of today’s tech-savvy, experience-driven consumers, from artificial intelligence and virtual reality to new retail fittings and merchandising, reaffirming the sector’s dedication to adjusting to emerging trends and spurring growth.
Speaking about RISE 2024, Kumar Rajagopalan, CEO, Retailers Association of India (RAI), said, “A large number of retailers from the area attend RISE, the yearly event hosted by RAI in Delhi. Additionally, it encourages retailers to speak and invites other service providers to showcase their skills in boosting merchants’ retailing capabilities. This year’s RISE is really exciting to us since it brings in a wide range of technology suppliers, opens up new retail locations, and makes sure that retailers connect, work together, and grow their businesses.
Highlight of RISE 2024 included a special address by the Guest of Honour Ms. Inoshi Sharma, Executive Director, Food Safety and Standards Authority of India (FSSAI), Ministry of Health and Family. During her address, Inoshi said, “Food is something so integral to all of us, why we are in the business of selling food products or not. So even if you are into retail, clothes or shoes, your employees are still going to eat food probably they’re going to eat food from a tuck shop in your outlet or somewhere just down the road, the kind of food that they eat and how healthy or safe it is, it what indirectly actually affects your work culture also.
Mr T. Koshy – CEO, ONDC, participated in an in-depth panel discussion ‘Strategic Evolution: How Retailers are Shaping the Future of Growth and Expansion’. During the discussion/on the side-lines of the summit, Mr Koshy expressed “In today’s rapidly evolving digital economy, access and inclusivity are becoming the cornerstones of sustainable growth. By harnessing data insights and industry trends, we can see a shift towards open, collaborative ecosystems that empower businesses of all sizes. ONDC is at the forefront of this movement, enabling broader participation and helping to level the playing field.
Lalit Agarwal, MD, V-Mart Retail Ltd. delivered a special address at RISE2024. Focusing on insights and strategic growth, he expressed, “Our strategy is rooted in a deep understanding of the evolving needs of our customers and the communities we serve. By leveraging data insights and listening closely to consumer preferences, we aim to bring value-driven, relevant products to every market we enter. The future of retail lies in connecting with customers on a personal level while staying agile and responsive.
Dhruv Bogra, Country Director, Forever New Clothing, with a focus on people and industry insights, said, “We believe that the true drivers of innovation and growth are our people. Investing in our teams, empowering them with the right tools, and fostering a culture of continuous learning is what sets us apart. The retail industry is rapidly evolving, but it’s the passion and insights of our employees that enable us to stay ahead of trends and deliver exceptional experiences. By prioritising our people, by prioritising the productivity, engagement, and well-being of our people, we are not only building a stronger brand but also creating a resilient, future-ready workforce that can adapt and thrive in an ever-changing landscape.”
Speakers at RISE 2024 engaged in profound discussions on critical topics, which included ‘Strategic Evolution: How Retailers Are Shaping the Future of Growth and Expansion,’ which explored sustainable growth strategies amidst market shifts. Another panel, ‘Redefining Customer Experience in a Digital-First World,’ delved into how changing consumer expectations are redefining engagement standards. The D2C Surge was also analysed, highlighting How Brands Are Forging Direct Connections with Consumers. ‘Retail Reinvention’ focused on How Brands Are Leading the Charge with Technology as the Enabler, while ‘Unlocking the Power of Retail Spaces’ examined How Real Estate is Driving Retail Innovation.
Retail leaders speaking at the summit included, Anupam Bansal, Liberty Shoes; Aanchal Saini, Flyrobe; Ankur Bhatia, Chogori India Retail; Bharat Sethi, Rage Coffee; Gunjan Shah, Bata India; Lalit Agarwal, V-Mart Retail; Mayank Mohan, Mohanlal Sons; Mohit Goyal, Swiss Beauty; Nisha Khatri, Libas; Pankaj Vermani, Clovia; Rajesh Jain, Lacoste India; Radeshwer Davar, New Balance; Sayantani Mandal, What’s Up Wellness; T.Koshy, ONDC; Vidhan Jain, Etchcraft Emporium, among others.
