Indian Retail and E-Retail Congress (IReC), powered by Entrepreneur India, took place in capital city New Delhi from April 30th to 1st May with the tagline “Era of New Retail”.
Franchise India hosted the IReC2019 at JW Marriott in New Delhi which got together over 100 national and international speakers who came together to discuss the current landscape of Indian retail and Asian retail learning’s including challenges and future trends.
There were over 100 Speakers, 25 Funds and Investors, 70 exhibitors, and over 700 delegates from India and International arena. Over the years, IReC has built thought leadership with the information exchange between key creative leaders and the emerging industry.
There were many pertinent topics that were discussed during two daylong conferences. As we know Indian retail is going through the explosion of multi channel and multi retail format. What does this mean to Indian brands and consumers? This was one of the few topics that were discussed around the conference.
In the welcome note, Ms, Ritu Marya, Editor-in- Chief, Retailer Media said,” 5 years down the line, it will be hard to tell who started online first and went offline and who went from offline to online. This is what disruption in technology has brought to the retail and e-commerce sector. Disruption will bring them on the same platform henceforth! At IReC 2019, retailers and E-Retailers looked beyond from what is, to what could be. IReC set a platform for the visionary talent to meet future tech to build a vision for the upcoming days.
In the inaugural speech, Vasanth Kumar, Managing Director – Lifestyle International Pvt. Ltd said, “Retail is moving towards creating seamless shopping experience. Hence, retailers should weave strategies to remove all friction from the shopping journey of customers to redefine the experience.”
While delivering the first keynote of the day Amit Sharma, Founder, ShopX stressed on the key technologies and more importantly the need for India to build Small format Modern stores given the large kirana country we are, the new emergent business models can transform more than $500 Billion of value across all retail categories.
Moreover, shoppers’ current expectations was also a topic for discussion, and how new age technologies such as AI and Data Intelligence is changing Indian retail forever. New trends in digital payments were widely covered in the panel.
Vikram Idnani, Sr. Vice President and Head IT, Reliance Retail said, “Higher domestic consumption is the key driver of expansion of physical stores and online retail.”
While speaking in tech summit, Deepinder Goyal, Founder, said, “Zomato Being Number 1 is a state of mind, it’s an infinite game, I don’t think there is any such thing as winning, you just to be able to continue to play for it as long as possible.”
While speaking at IReC 2019, Anchit Nayar, CEO- Retail, Nykaa shared key insights on how does he see Nykaa as Tech start-up rather than a family owned business.
IReC 2019 saw the participation from big retail companies including Reliance Retail, Future Group, Arvind Lifestyle, Tata Trent, Lacoste,Landmark group, and ITC amongst others.
This time for first time IReC also hosted FoodLab as the part of event and it was well received by food startups and big food companies with over 100 participants. Rapid pitch zone and tech summit were yet another important parts of the show.
Moreover, along with mall hall conferences, this time IReC also hosted four interesting round table sessions on merchandise intelligence, Data Science, Customer experience and Human Resource.
Indian retail and E-retail awards also took place at the event. Some of the exhibitors that participated at IReC 2019 include ShopX, Blue Star, Green Snack, BigZage, Delhivery amongst others.
The IReC was established in 2010 with the support of Franchise India Group. Franchise India business coordinates international retail and Franchisecommunity.