Retail Industry Leaders Gathered at Phygital Retail Convention 2023 and Discussed Key Trends and Strategies for Growth and Success

Mumbai (Maharashtra) [India], May 15 (ANI/NewsVoir): The Phygital Retail Convention 2023, on its second day, continued on a high note with an engaging quiz game led by Siddhartha Basu, known as the father of Indian television quizzing. The competition featured esteemed retail leaders from various prominent brands, including Shobhitam, Being Human, ABFRL, MOD, and Inorbit malls, among others. The questions focused on brand history, founders, and memorable ad campaigns, resulting in a competitive and stimulating atmosphere. Shobhitam emerged as the winner after a closely contested battle.

Subsequently during the day, retail industry experts gathered for a thought-provoking session on the future of talent acquisition. Ashish Tiwari, CMO of Home Credit, emphasized the importance of human connection in the retail industry, stating that AI can never replace HI (human intelligence). Ashish went on to explain how AI can be used to empower humans but to provide personalized store experiences, with human connection remaining the most crucial element.

Other panelists agreed that AI can be used to enable decision-making and improve operational efficiency, but it should not be viewed as a replacement for human talent. The consensus was that the key to success lies in a harmonious coexistence between humans and AI, with technology playing a supporting role in the retail industry’s growth and development.

While talking on D2C Brands & Malls, BOHECO emphasized the importance of creating a human-centric design and a safe and unique customer experience. The founder of Snitch highlighted the integration of the store design with the brand story and the growing importance of digital branding. The panel also discussed the potential for malls to cater to online brands moving offline and fill gaps in categories such as beauty, fashion, home, and electronics.

Shibu Philips from Lulu Group highlighted that it’s crucial for malls to provide ample space for families to spend time together. This can be achieved by offering food courts, restaurants, and entertainment stores that encourage people to spend longer periods of time in the mall.

Gaurav Juneja, Head of Digitization at Google, and Shubha Pai, Head Google Youtube Sales and Solutions presented a Masterclass on “Building Customer Centric Businesses in an Omnichannel World”. He discussed the different consumer journeys in the fashion industry and highlighted that 78 per cent of Indians make their shopping decisions online. Juneja emphasized the four key impacts of an omnichannel approach – talent, team and organization, planning and budgeting, customer-centric marketing, and data and insights. Shubha Pai gave a glimpse of the latest trends and Google solutions available to help brands gain a competitive edge.

Overall, PRC 2023 brought together industry leaders, thought-provoking discussions, and innovative ideas that will shape the future of retail in India. It was an event that not only celebrated the industry’s achievements but also paved the way for a brighter and more inclusive retail landscape.

The Phygital Retail Convention (PRC) is India’s largest retail intelligence event, attracting over 500 brands and featuring top retailers, brand owners, and thought leaders. PRC offers insights into various aspects of retail, including e-commerce, marketing, merchandising, physical shops, supply chain, and payments. The 2023 edition, themed “ACCELERATING RETAIL @SCALE for INDIA: THE RETAIL MEGAVERSE”, aims to transform the Indian retail landscape by connecting the best-in-class products, ideas, and innovations to both the retail capitals of India and the semi-urban and upcoming retail hubs of India.

Established in 1992, IMAGES Group is India’s most prolific and influential disseminator of retail intelligence. Recognised by Indian and international retail communities through its B2B Magazines, Conferences, Exhibitions, Research Reports and Web Portals, the IMAGES Group is the largest retail intelligence organization in South Asia and the Middle East, whose multiple products and services function as catalysts for the profitable growth of modern retail through knowledge platform leadership.

The Group’s knowledge platforms include print and online reportage, research studies, and major annual business events with Conferences, Master-Classes and Workshops serving multiple verticals/segments/operations of retail. The mega industry events include: India Food Forum, India Fashion Forum, Phygital Retail Convention, Internet Commerce Summit, India D2C Summit and the Middle East Retail Forum.

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