: Retail fraternity emphasises on digitisation at Retail India Summit & Expo 2021 by RAI #FinanceIndia #StockMarketNEWS Retail fraternity emphasises on digitisation at Retail India Summit & Expo 2021

@StockMarketNEWS Thu 16 Dec, 2021

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Retail fraternity emphasises on digitisation at Retail India Summit & Expo 2021 by RAI #FinanceIndia #StockMarketNEWS
Retail fraternity emphasises on digitisation at Retail India Summit & Expo 2021 by RAI New Delhi, 16 Dec (KNN) The Retailers Association of India (RAI) organised the ‘Retail India Summit & Expo (RISE) 2021’ on 15th December, 2021 in New Delhi.

It saw participation of the retail fraternity and retail service providers like retail design, visual merchandising, shopfitting, real estate and technology and had evolving customer expectations core of all their discussions at the summit, said the press release.

Speaking at the event, Kumar Rajagopalan, CEO, Retailers Association of India (RAI), said “Retailers are confidently looking forward to 2022 with a renewed focus on digital transformation to keep the momentum. Over the last two years, there has been a paradigm shift in consumer behaviour. Consumers are increasingly looking at convenience and choice in where to buy and how to buy (mode of payments). Omnichannel retail has become reality for businesses today—offline retailers are seen expanding their presence online and online players are seen foraying into physical retail stores. Moreover, an increasing number of consumers are buying on social media platforms as well. In 2022, ONDC (Open Network for Digital Commerce) an initiative by DPIIT (Department for Promotion of Industries and Internal Trade) may be the game-changer in India as it seeks to democratise e-commerce. ”

Bijou Kurien, Chairman Retailers Association of India (RAI) said, “Retail constantly evolves. The pandemic accelerated its evolution. Today, consumers are more comfortable using digital technologies and retailers have started adapting to the changing consumer. They have unlocked new ways of reaching consumers and building demand for new product categories. By actively collaborating with technology, payment and logistics partners, retailers have been able tremendously expanded their reach. A new era of retail is dawning on us, and retailers are getting ready for it. ”

Delivering his special address as the Chief Guest at RISE 2021, Anil Agarwal, Additional Secretory, DPIIT, Ministry of Commerce, Government of India, commented that the summit had the best of what India had to offer in the retail space. Speaking about the retail trade policy he said, “Government of India has created many model policies to guide State Governments and similarly a model framework is being created to ease the inter-state trade. However, it is important to have a National Retail Trade Policy, which will be soon shared for public consultation. In the policy we will be addressing multiple areas like Ease of Doing Business by simplifying licenses and the processes related to it.

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