|
| India Retail Forum: '2009' - Defining Period for the Indian Retail Industry | | Retail growth to scale up to 8-10% from the current 4% |
| Announcement / Corporate Sep 16, 2009, 20:12 IST |
|
India Retail Forum (IRF) 2009 - 16th and 17th September '09, Renaissance, Mumbai, India
- IRF 2009 inaugurated by B S Nagesh, Chairman, IRF ’09 & Vice Chairman, Shoppers Stop
- Kishore Biyani, CEO, Future Group sees opportunities in travel and tourism; expects growth in Food sector to increase by 35% – 50%;
- Future Group to enter the Telecom sector; Expects to raise Rs 1000 crore
The two day India Retail Forum (IRF) – 2009, India's largest retail congregation - today kick-started at The Renaissance, Mumbai. The forum saw an impressive participation of over 50 International speakers, 250 Indian speakers, panelists, 250 exhibitors, over 300 international delegates and 3000 participants.
“Aptly themed ‘Retail for India Tomorrow’, the inaugural session of IRF 09 commenced with an impressive address by B S Nagesh, Vice Chairman, Shoppers Stop who has taken over the mantle of India Retail Forum as Chairman, IRF ’09 said, “Though the Indian retail industry has learnt a lot over the past few years, 2009 will be the defining year for all as there will be opportunities galore. In fact retailers will see a tremendous growth and profit this year than they have seen earlier. There is a need to rationalize the number of stores, hiring practices and the need to implement corporate governance across sectors. The Indian consumers are the biggest scope for growth for the Indian retailers. However it is up to the retailers to make the best of the opportunities available and those who do not latch on to them right now will miss the boat.”
He further added, “India Retail Forum is a great platform for all retailers to learn, focus and get specific details which one could adopt and implement in their respective businesses.” He also highlighted key areas of improvisation namely - real estate, hiring practices, downsizing and understanding consumer needs.
Vikram Bakshi, MD, McDonald's (North & East India) giving a prelude to the Retail Power Track sessions said, “Over the decade Indian retail has emerged as a dynamic and fast paced industry. However the journey has slowed down over the past few months. For the retail industry to grow manifold it is essential that retailers be much more efficient and innovative. IRF has introduced 'Retail Power Tracks', the CEOs conclave across ten key retail verticals where consumers spend money. They are - Fashion, Food & Grocery, Health & Beauty Care, Restaurants & Food Courts, Jewelry, Watches & Eyewear, Shoes & Accessories, Home & Interiors, Consumer Electronics, IT - Mobile & Gadgets, Leisure (Books, Music, Gifts, More). These conclaves will help everyone learn from the best brains of the respective sectors who will share their learnings, best practices and strategies. It is critical that one absorbs, adopts and implements them.”
The session on Retail Learning which was an introspective session on the retail journey, anchored by Raghu Pillai, President and Chief Executive, Operations & Strategy, Reliance Retail saw a stimulating discussion with industry bigwigs like Vineet Kapila, CEO, Spencer’s Retail, Hemant Bakshi, ED, Sales & Customer Development, HUL and V Ramachandran, Director, Sales & Marketing, LG India. The session concluded with consensus amongst the panelist that one needs to give some time to the retail sector and that both modern and traditional trade will have to co-exist.
Speaking on the journey of organised retail in India, Hemant Bakshi, Executive Director, Sales & Customer Development, Hindustan Unilever Limited (HUL), said “We believe that the penetration of modern trade in India has been less than expected. However, what is interesting to note is that the penetration in SEC A segment has exceeded expectations. He further added, “the way to move forward for the Indian retail industry is to make it more inclusive. Collaboration is the success mantra.”
The session ‘No Stopping India!’ witnessed a question answer session with Kishore Biyani, Founder & CEO, Future Group wherein he shared interesting insights on 'value creation ' emphasizing the need to create stimulus and increase consumption. He said, “ We are witnessing sensibilities come into the retail business now. Players in the industry need to understand that you cannot do everything yourself, hence collaboration is critical. “
Supported by all major bodies including Confederation of Indian Industry (CII), Retailers Association of India (RAI) and Shopping Centre Association of India (SCAI), IRF will see over 200 thought leaders from across the globe sharing their vision and views with some 1000 captains of the industry.
The Forum brings an opportunity to learn, share and evolve with the masters in the business, explore vibrant ideas, witness innovation in merchandise, spaces, IT and support systems, network and celebrate outstanding achievements in the business of retail in India. IRF will conclude with the grand finale: IMAGES RETAIL AWARDS felicitating best performers in retail, outstanding professionals and concepts.
|
|
|
|
|
|
|
|
 Read Business news in |  |
|
|
|
|
|
|
Advertisements |
|
|
|
|
|
|
|
|
|
|
Content Guide
