‘SERVE AT HOME' WILL OPEN NEW BUSINESS AVENUES FOR RETAILERS IN THE POST COVID ERA

In a discussion at the first-ever, pan-India humanitarian campaign organised and hosted by IMAGES Group titled Retail Panchayat, it came to light that ‘serve at home’ could change the dimension of the retail industry in the post-COVID era by opening new business avenues for retailers. Retailers who will be most adaptable to change, who are willing to serve the consumer in his comfort zone – i.e. home – will be best positioned to ride out the immediate challenges…

In a bid to support retail employees and their families impacted by COVID-19, IMAGES Group and Trust for Retailers and Retail Associates of India (TRRAIN) hosted Retail Panchayat, a firstever, pan-India humanitarian campaign.

The inaugural session was cohosted by B S Nagesh, Founder, TRRAIN, and Amitabh Taneja, Chairman and Managing Director, IMAGES Group. The guest speakers included retail stalwarts like:

Darpan Kapoor, Chairman, Kapsons Group

Jitendra Chauhan, Chairman and Managing Director, JadeBlue

Manohar D Chatlani, CEO and MD, Soch Apparels

The platform of the Retail Panchayat was used to exchange ideas on possible solutions for the immediate crisis facing retailers across India, as well as the short and long-term implications of changes in consumer behaviour, digital optimisation and economic climate. Panelists exchanged ideas on how retailers could rethink existing business models, take digital transformation routes, work on supply chain efficiencies, customer engagement concepts and how they could implement long-term innovative ideas.

How the Pandemic Has Affected the Retail Industry

BS Nagesh kickstarted the session by saying that for both big box and small brands and retailers the lockdown has been severe to say the least since all costs are still definitive, but revenue has become uncertain. The condition has been made worse by the fact that the retail industry was already suffering from an economic slowdown of late.