Digital Virtual Malls- The Next Turning Point in the Retail Industry

No.PR-120 June 8, 2020 New Delhi Digital Virtual Malls- The Next Turning Point in the Retail Industry New Delhi, 8th June 2020- While COVID-19 has given challenging times to every sector and industry of the world, the retail sector will be witnessing a paradigm shift with the coming of digital virtual malls which will be the innovation twist in the retail sector. To understand the nuances and way forward, PHD Chamber of Commerce and Industry hosted a webinar on "Digital Disruption in Retail - Fight the Massive COVID-19 Outbreak" with Mr. Rishabh Mehra, CEO, Digital Mall of Asia. Mr. Rishabh Mehra, CEO, Digital Mall of Asia while deliberating mentioned that Digital Mall of Asia, a first of its kind virtual e-commerce platform that was primarily designed to offer immersive shopping experiences to consumers. It is looking forward to partner with global, luxury, and diversified brands intending to diversify the platform's product and service offerings. He explained that the digital mall will aim to bring together the best of offline and online worlds by delivering the experience of traditional malls where brands have dedicated shops and convenience of online shopping. The brands will get unlimited selection and the customers will get the benefit of buying anytime, anywhere. Mr. Rishabh Mehra mentioned that the mall with being opened in multiple cities including Delhi, Noida, Ghaziabad, Gurgaon, Mumbai, Bengaluru, Hyderabad, Chennai and globally in China, Japan, South Korea, Singapore, Malaysia and many more. Each mall will have a different interface inspire by being part of the same portal. It is developed on a scalable, robust, secure, and reliable technology to manage an ecosystem of brands. He also gave a brief of how brands can register themselves and buy or rent an e-shop. He discussed the benefits of associating with digital malls of Asia which include Zero commission charged by the marketplace, direct supply to the customers, minimized return policy, and many more. He said that it will be a stress-free experience for consumers as they are looking for the best quality economic pricing. Mr. Saket Dalmia, Chair, Retail Committee, PHD Chamber in his opening remarks deliberated about the need for a change in the retail sector looking at the needs and demands of the customers. He emphasized the increase in the e-commerce platforms which has led to a change in the choices, variety, buying habits, and purchasing patterns of the customers. Mr. Saurabh Sanyal, Secretary-General, PHD Chamber, gave his concluding remarks and a formal vote of thanks to Mr. Rishabh Mehra and other participants. The webinar was supported by Digital Mall of Asia and was moderated by Dr. Yogesh Srivastav, Principal Director, PHD Chamber, and was attended by many members of senior management of PHD Chamber along with extensive participation of more than 190 industry stewards across the country. Ends. Media Division PHD Chamber of Commerce and Industry