Monday, 24 November 2014

Panel Discussion: Retailing in India- Issues, Challenges and Prospects - 18th Oct, 2014

A Panel Discussion on "Retailing in India- Issues, Challenges and Prospects" was organised on 18th October 2014. The eminent panelists included Mr. Kishore Chakraborti, Vice President, Consumer Insight and HFD (Human Futures Development), Mr. Ranjan Paul, India Country Manager and Director, Net Serv India Pvt. Ltd. and Mr. Pradeep Narula, Group President, Wave Inc. 
The eminent speakers highlighted the fact that India is the most attractive retail destination today with abandon on opportunities, growing at 25% - 30% and is estimated to be $ 470 billion. The organized retailing with 6% shares stands at $ 26 billion. It is projected to reach US$ 1.3 trillion by 2018 with the organized retail market estimated to grow at the compounded annual growth rate of 40%. The discussion revolved around an irreversible change in consumer buying habits and businesses related to serving these retailers. However, unlike many other countries, India has its own unique character of size, geographical spread, cultural diversity and multiplicity of formats being introduced at quick succession. Retailers also face the challenge of development infrastructure, on their own or in cooperation with the government.

Recent retail trends, opportunities for national and international players was also discussed. The panel acknowledged the deficiencies and problems related to backward and forward integration of supply chain, setting up of physical retail stores, training and management of sales force. The discussion was a rich learning experience for the audience. 

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