Damodar Mall, Chief Executive Officer - Grocery Retail, Reliance Retail Ltd...
From stall traders to mom-and-pop stores to supermarkets, modern retail has seen huge leaps and bounds. The growth of supermarkets can be attributed to the rising of the Indian service sector. A lot of businesses in India are moving towards retail to capitalise on the tremendous growth opportunities.
During the Indian Retail and eRetail Congress and Awards 2015, Retailer Media hooked up with the "Born to be a grocer" titled Damodar Mall, Chief Executive Officer - Grocery Retail, Reliance Retail Ltd, to know his views and opinions on the modern retail trends in supermarket industry.
How has the industry behaved for supermarket retail in terms of growth and opportunities?
In supermarket retail, customer is increasingly confident and the phenomenon of trying out new brand is a continuous process. New categories are getting built and we are seeing it getting stronger and stronger and we see continuous optimism on the consumer part.
What evolution do you see in the current supermarket business?
Supermarket businesses are self serviced formats and the sister format of modern retail in supermarket in the virtual world is the eCommerce platform. These are the two models which we believe are the twin forces of modernisation of supermarket trade and also the increasing forces of customer empowerment.
Where do you see eCommerce in supermarket 5-7 years down the line?
The customers for their income level in India are digitally literate and they are embracing the options of eCommerce. The hesitation to try out things online is going down by every passing month. Though the last mile models are yet to evolve, but it will be interesting to see the fulfilment model.
What behavioural changes do you see in consumers towards this modern supermarket?
From a customer standpoint, we are going through an explosion of choice and whether it's physical supermarket or supermarkets on the web or on the phone, the choices are multiplying for the customers. With a wide range of options available, consumer's trust is back in the supermarket industry and we have seen a significant rise in the footfall as well.