Invaluable 360-Degree View of Retail Industry: Future of Retail

No. PR- 195

January 21, 2021

New Delhi

Invaluable 360-Degree View of Retail Industry: Future of Retail

The COVID-19 pandemic continues to affect the Indian economy across sectors, including FMCG and retail. These sectors have been facing massive disruptions over the past few months across the value chain, ranging from manufacturing and logistics, to distribution and retail.

Mr Sanjay Aggarwal, President, PHD Chamber of Commerce and Industry said that the economy has witnessed drastic changes in consumers’ behaviour during and after the lockdown with continued work from home and consumers still being sceptical in going to malls and market places, in a press statement issued here today.

As brands adapt to the ‘new normal’, they have to move to an agile business model to minimise disruptions in the future as this may not be the last pandemic. Companies have to learn to proactively respond to the new shopping habits that consumers are developing in a continually changing landscape, added Mr Aggarwal

Brands and retailers will need to re-learn the shopper journey for their categories, to create seamless shopping and consumer experience for their customers. They also need to look at putting consumers/shoppers in the centre of everything they do, said Mr Aggarwal.

Against this backdrop, PHD Chamber of Commerce & Industry is organising the Virtual Series on PHDCCI Retail 360° - Future of Retail from Jan 2021 till March 2021 through different sessions to discuss and deliberate on the trends, practices & strategies required to be adopted by brands to meet consumer expectations with the invaluable 360-degree view of Retail Industry.

The series will give an outlook on how FMCG and retail companies must reboot their business models as Indian consumer/shopper journey evolves in these changing times. In this series, we talk about the importance of how the brands need to realign their businesses and business priorities to enhance consumer and shopper experience by building a flexible distribution network, accelerating the adoption of omni-channel across brands, continuously improving the supply chain, and focusing on sustainable business practices to operate efficiently and thrive in a new business landscape.

The Virtual Series is formally supported by Niti Aayog. Hindware Appliances is the presenting Partner of the Virtual Series on Retail 360° - Future of Retail Co-powered by Dorset Industries Pvt Ltd, Gold Partner Holostik Group and JIMS (Rohini), Lovely Professional University & Sharda University as Institutional Partner.

Ends

Media Division

PHD Chamber of Commerce and Industry