- November 25, 2020
As the term ‘new’ gives way to ‘next’ normal, the very definition of normalcy has changed. It has changed as retailers are rewiring business models, rethinking revenue centres and readjusting plans to adapt in a changed business environment. Our opening address will take a deep dive into what really the ‘next normal’ entails for retail businesses.
Retailers are realigning goals in order to not only survive but sustain. Several transformational measures have been quickened – the foremost being acceleration of digital transformation, creating seamless ways of engagement, and building supply chain agility to ensure zero-loss inventory management. This session will bring together retail leaders with inside stories of how they rejigged operations through enhanced digitalisation.
From supply chain agility to integrated mega distribution centres and touchless mobile checkouts, technology is ‘the’ enabler for retail transformation. Hear from subject matter experts decoding how technology is enabling the retail industry for a more demanding but an exciting future, by building agile yet resilient systems and processes.
As COVID-19 put customer loyalty to the test, a section of retailers has won by not only gaining trust but also giving their loyal customers more reasons to shop. In doing so, data has played a key role in creating personalised experiences; while people – the retail executives – have interacted with customers in a contactless but humane manner. This session will bring together retail brands that have upped their game to gain customer loyalty.
Is e-commerce here to stay? According to research firm, Bain & Company, e-commerce was a $2.2-trillion market in 2019, whose contribution to retail is set to surpass 50% by 2020. Digital payments company Visa estimates the market size of e-commerce in the Middle East to reach $48.6 billion in 2022. Not only is e-commerce here to stay; it is going to be a strong driver of retail sales in the future. This session will focus on how e-commerce is reinventing consumers’ path to purchase, while creating growth opportunities for retailers.
Retail has time and again proved its resilience; amidst predictions of apocalypse, the power of good retailing has led the industry to rise like a phoenix. If the new decade brought a pandemic, it also created several growth opportunities in a new landscape – where omnichannel is non-negotiable, design seeks readjustments, meaningful partnership is a must and rethinking customer experience is crucial. Our closing session will discuss how retail isn’t dead and what opportunities lie ahead.
Home-grown start-ups and entrepreneurs that survived the COVID-19 storm will share how they pivoted to stay in business.