The Hindu Business Line : ‘India should look for new retail models’

New Delhi, April 29 Retailers should keep pace with consumers in their consumption journey — to not only acquire insights into what they want today, but foresight into what they will want tomorrow. India should look for new models in retail that would work in the Indian context, experts here said.

Speaking at the Indian Consumer Mindscapes 2008: ‘Powering Business through Foresight’ organised by Technopak, Mr Paco Underhill, Retail anthropologist, Founder-Managing Director Envirosell Inc, said, “America and Europe were interesting but irrelevant and that India should look for new models from countries like Brazil, South Africa, Dubai, Korea and Mexico.”

Mr Peter Baker, Chief Executive Officer of H&B Stores, Dabur, said that with change happening constantly, companies need to invest time and money into learning. The idea was to provide the Indian customer with a great selection of goods and more importantly meeting customers’ needs and expectations.

Mr Venkatesh Kini, Vice-President (Marketing), Coca Cola, in his session said, “India’s youth desired instant gratification and felt it was okay to demand what they wanted.” He further added that being Indian is now a badge and nothing to be ashamed of. The unifying passions for Indian youth today are cricket, movies and music.

Technopak’s latest report, ‘India Leisure and Entertainment Trends 2008’, was released at the conference.

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