IAA Knowledge seminar: New Retail Strategies for the new competitive environment

‘New Retail Strategies for the new competitive environment’ organised by the International Advertising Association (IAA) India Chapter and hosted by Vijayavani in Bangalore saw Industry captains, Bijou Kurien, Board Member, L Capital,  V. Vishwanath, Director, Brand & Marketing, Urban Ladder, Senthil Kumar, CCO, JWT India, Sruti Swamy, Head, Hansa Retailscape, Ramesh Jude Thomas, President & Chief Knowledge officer, Equity Value Advisory gave their strong insights on Retail Strategies. 
 

Over the last decade, India has witnessed revolution in retail industry. Buoyed by success of few, many have entered creating rippling effect in the country. The industry accounts for 8% of the jobs and accounts for over 22% GDP for Indian Economy, clearly indicating the retail industry is critical for our nation’s progress. Metro cities, II Tier and even III Tier cities are adding an average of 4 modern retail store in India every month since 2010.   
 

Srinivasan K. Swamy, President, IAA India Chapter & Vice President, Development Asia/Pacific region said, “The topics for IAA Knowledge Seminar are carefully curated to bring together different perspectives on emerging industry challenges. This one on the retail landscape brought together speakers from varied backgrounds giving the audience a well-rounded insight from the front lines. IAA will continue to present sessions like this.”

 

Senthil Kumar, CCO, JWT India, said “In the fast paced Retail industry, there is need to have proper guidelines to build a strong retail brand. Speed is a factor in the retail industry today. Innovation in communication especially in Advertising helps to achieve reach and make brands successful”
 

Bijou Kurien, Board member L Capital said “With competition getting intense in retaining customers it’s inevitable for retailers to evolve strategies. Unlike in other countries, here in India with over 65% younger generation living in smaller towns, retail industry need to traverse to remote corners”

 

Sruti Swamy, Head, Hansa RetailScape said “Innovating new business ideas is the key and the quality of product retail entrepreneurs attract consumers with great price. From price consciousness, the consumers today walk into organised retail store to feel the ambience. Today Retail has expanded through e-commerce eco-system to cater to larger base and their virtual stores are adding to their bottom-line effectively”