How Changing Consumer Behavior Is Leading To Increased Technological Adoption In Retail

Retailing in the new era requires open-mindedness to change, adapting all things digital and building new equations with stakeholders to enable growth
How Changing Consumer Behavior Is Leading To Increased Technological Adoption In Retail

Irrespective of size, channel, category or status, the last two years served as a wake-up call for all businesses alike with regards to digital adoption. It compelled them to relook at their businesses, unlearn old skills and abandon dated ways of thinking to embrace new ones. 

Retailing in the new era requires open-mindedness to change, adapting all things digital, and building new equations with stakeholders to enable growth, experts believe. 
 
Kumar Rajagopalan, CEO, Retailers Association of India (RAI), said, “The buying habits of consumers have evolved during the pandemic. They seek convenience for what they want to buy, where they want to buy from and also how they want to pay for it. Social commerce too is becoming important as an increasing number of consumers are now not only discovering products on social media but are also buying on social media platforms."
 
A similar thought is reiterated by Bijou Kurien, Chairman, Retailers Association of India (RAI). “Retailers have started adapting to the changing consumer and unlocked new ways of reaching them and building demand for new product categories. By actively collaborating with technology, payment, and logistics partners, retailers have expanded their reach tremendously. A new era of retail is dawning on us, and retailers are getting prepared for it,” he said. 

It is no wonder that the brands that have strongly worked upon their technological adoption have gotten an edge over others in the last few years. 

Recently, the Retailers Association of India (RAI) has organized the ‘Kolkata Retail Summit 2021’ on 3 December 2021 in Kolkata to bring together retail stakeholders in Eastern India on a common platform.
 
The theme of the summit was ‘Retailing in the New Era: Roadmap to Growth’, which saw the participation of the retail fraternity from Eastern India. 
 
Participating in the panel discussions were retail leaders such as Amit Marya, Head - Operations, Baazar Kolkata; Aniket Deb, Co-Founder, Bizongo; Binod Homagai, Co-Founder & COO, Wow Momo Foods Pvt. Ltd.; Christopher Rani, Founder & CEO, CR Projects; Karan Goenka, COO, RG's Fashions (Citi Style), Namrata Chotrani, CEO, Khadims, Sandeep Jalan, CEO, Soham Shopee; Sandeep Gupta, Founder & CEO, Dunkelbraun; Shreyans Surana - Style Baazar; Varun More, MD, Sanvie Retail; Vivek Goyal, Co-Founder & Director, Zink London, among others. 

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