Chennai, August 29, 2024:At the esteemed ITC Grand Chola in Chennai, the Retailers Association of India (RAI) organized the historic “Chennai Retail Summit 2024,” which brought together prominent decision-makers and business leaders from around the Indian retail sector. The “Changing World of Retail” theme of this year’s summit gave retail executives and service providers an interesting forum to discuss new trends, exchange ideas, and hone tactics in a retail environment that is always changing.
Speakers at the summit included Chockalingam S, co-founder and director of Opn Advertising Pvt. Ltd.; Balachandar R, director of Junior Kuppanna; C K Kumaravel, co-founder and chief medical officer of Naturals Salon; Saurabh Kumar, chief executive officer of Kaleesuwari Group’s retail division; Gautam Saraogi, chief executive officer of Go Fashion (India) Ltd. (Go Colors); and Madhumitha Udaykumar, co-founder and chief operating officer of The Indus Valley.
The Chief Executive Officer of the Retailers Association of India (RAI), Kumar Rajagopalan, commented on the Chennai Retail Summit, saying, “The Chennai Retail Summit showcases Chennai’s strength as a market that was among the first in India to adopt the chain store model. From Tier 1 to Tier 3, retailers in the area have effectively negotiated the intricacies of contemporary retail while adhering to their cultural heritage. The region stands out in an industry characterized by significant changes, including time poverty and the increasing need for hyperlocal solutions. It manages to maintain heritage while welcoming modernity.
Sonali Lalvani, CEO, Toniq Retail Brands, said, “An in-depth grasp of consumer behavior and agility are crucial in the new retail environment. Retail is changing from traditional brick-and-mortar to omnichannel experiences. In this competitive environment, brands that focus on personalised interactions and smooth consumer journeys will be successful.”
Anand Bharadwaj, Co-Founder, Sweet Karam Coffee, said In today’s retail environment, telling a compelling story and providing the appropriate value-added experiences are just as important as just selling a product. Brands who are able to combine traditional elements with modern techniques and capitalize on the growing trend of local and authentic tastes will be at the forefront.
C K Kumaravel, Co-Founder & CMD, Naturals Salon, said, “Retail’s future rests on your capacity to innovate through technology while adhering to your brand’s essential principles. In the beauty and wellness industry, this entails constantly modifying our offerings to satisfy our clients’ shifting demands while preserving what makes us special. Listening, adapting, and always prioritizing the needs of the consumer are crucial.
