Retail is probably one of the world’s oldest businesses. Ever since human beings first started trading, commerce, ergo retail has been in existence. The challenges of retail, just like the space itself have evolved. And in the age of the internet, these challenges have become ever more synonymous with technology. Gone are the days when big name stores would simply hang out a ‘sale’ sign and customers would rush in droves. Today, consumer is king and convenience is the new mantra, and fuelled by e-commerce, the consumer is simply spoiled for choice. In such a scenario, how then can a traditional retail store stay competitive? Can technology provide a solution to this conundrum? These and other burning questions are on most retailers minds.
In an effort to answer these pertinent questions, the Retailers Association of India (RAI) has organised ReTechCon 2015, a retail technology conclave, which will seek to educate, inform and explore the possibilities that technology holds for the retail space. Retail, much like any other business, needs to evolve and adapt to the paradigm of the 21st century. Technology will play a huge role in this. In the words of Vinod Krishnan, Business Head, e-commerce and CIO, Wal-Mart, “ReTechCon helps gain an understanding of how businesses can cope with changing the way they operate and meet customer-needs.”
ReTechCon has been organised with several critical (for the traditional retail business) parameters in mind. Chief among which are:
In the words of Abel Correa, CIO, Arvind Lifestyles Ltd. “ReTechCon unleashes the power of collective minds (IT service providers and retailers) to bring thought leadership in a business like retail.” And ReTechCon delivers on that promise by assembling the leading minds in the retail and tech space under the same roof. This year’s line-up includes luminaries like Abhishek Lal of Adidas India, Carlton D’Silva of Hungama Digital Services, Maya Hari of Twitter, Rama Vedashree of NASSCOM, Nadeesh Ramachandran of Google, and several other thought leaders in the space.
The main talking points of the conclave include critical retail concerns in the modern era including, Customer experience, Marketing, Supply Chain and Analytics. Evaluating these against the backdrop of evolving consumer tastes, preferences and other parameters will help retail businesses trying to evolve in lockstep with the changing business environment. Another major point of focus that ReTechCon seeks to address is the use and application of the primary driver of technological interventions, called analytics or big data. Over the course of the two-day conclave, participants will get real-time insights into the realities of the digital economy and challenges with respect to these areas and learn how some retailers have managed to overcome the hurdles and equip themselves for retailing in the digital era.
Customer Experience
In a world of instant gratification, a retail brand has but a few fleeting moments to engage with a customer. To ensure that the customer continues engaging with the brand, Customer Experience becomes a critical determinant. ReTechCon 2015 will focus much of its time and effort on explaining the importance of technology to the overall customer experience and traditional retail’s need to evolve, considering the stiff competition and innovation of online retail and e-commerce.
Marketing
Marketing and technology today share an intimate connection. After all most marketing initiatives by brands today are based on real-time data collected across touch points, and many solutions use technology to deliver moments of customer delight. With the paradigm being the way it is, it is extremely important for marketers (on the retail business’ end) to be aware of the changing trends in marketing, in a manner that includes technology. Marketing and technology integration form the crux of two important sessions in the two day conclave.
Supply Chain
Everything from procurement, to storage, shipping to logistics to retail design is a part of Supply Chain. The current trends, in a fast moving, evolving and dynamic paradigm, involve the inclusion of technology in Supply Chain metrics. This is fast becoming a key determinant in the success of a retail business, and ReTechCon has devised a special panel discussion to tackle this hot topic.
Conclave Structure and Design
ReTechCon has been structured as a series of events, designed to leverage the power of discussion and brainstorming. An inclusive, sharing of ideas is key to the success of almost any event, and keeping this in mind, the conclave has a healthy mix of workshops, expos, ‘app’ world (the role that technology and mobile apps can play in a retail environment), start-up pitches and other innovative sessions. This gives the retail participants a true feel of what is happening in their space and enables them to become more aware of the rapidly changing archetype in their field.
Why attend?
Retail in the 21st century is a multi-layered being, and understanding it requires a working knowledge of all its facets. In the words of Veneeth Purushotaman, CIO, Bharti Retail, “Everyone eagerly awaits ReTechCon because of the opportunity it brings for all the System Integrators and Technology partners. Retailers big and small get to hear about new products and
innovations. It is an excellent platform to network with colleagues in the industry.”
The participants from past ReTechCon’s have all had similar learnings, and some of the biggest advantages of attending the event include the insights into the changing trends of tech inclusion in the retail space, the excellent platform the event provides to network with industry experts and peers, access to relevant business solution providers and learnings.
ReTechCon 2014 saw the release of such important whitepapers and tools such as, “Retail 2.0: The Next Generation”, “Digital Marketing in Retail: Online and Offline”, “Retail 2014: Anytime, Anywhere Universe” and several others that over the past year have been freely circulated and used to great effect by several organisations. This year’s event is bound to be full of similar learnings and the opportunity to network with some of the leading minds in the tech and retail space.
ReTechCon 2015, organised by the Retailers Association of India, in association with NASSCOM, will be held on 17th & 18th of June, at the Renaissance Hotel in Powai, Mumbai. A power-packed two day conclave, it will focus on delivering insights into how traditional retail can improve customer experience, marketing and supply chain management, using both technology and big data (analytics). Definitely a must-attend, especially if you’re in the business of traditional retail.
