Companies

‘Retail sector set for big growth as technology drives change’

Our Bureau Chennai | Updated on August 08, 2019 Published on August 08, 2019

BS Nagesh, Chairman, Retailers Association of India   -  Bijoy Ghosh

Retailers Assn Chairman BS Nagesh sees a transformation happening thanks to tech start-ups and govt policies

There is a huge change waiting to happen in the unorganised retail sector in the next five years as many start-ups are empowering small retailers with cutting-edge technology, said BS Nagesh, Chairman, Retailers Association of India (RAI), at the Chennai Retail Summit 2019 organised by the Association.

On Wednesday, the Centre issued a notification to create a welfare body at the government level to look after small traders. While many start-up-created technologies are powering kirana shops and small retailers, the government is also helping them, he told the Summit.

Restaurants are facing a challenge because seats remain unoccupied as Swiggy and Zomato have changed their business.

“Everything is creating an opportunity for retailers. But the question is: Are we keeping our eyes and ears open to understand our customers and ask what our customer behaviour is? Is there an opportunity for me to look for something more from the same customer?”

“India is growing at 6.9 per cent, and is the fastest growing country. Isn’t there an opportunity in that 6.9 per cent growth? Yes, there is an opportunity. The question is can we find the opportunity for ourselves and our business or should somebody find the opportunity for us. In most cases, we say somebody else should find the opportunity for us. Every aspect around us that is influenced by the government and the policies will help us to fight better,” he said.

“If you look forward, there is a huge opportunity. Look inward; your own customers from your own eyes than outside; look at the small things around you in terms of government policies and initiatives and look at how competition is coming from different ways. Combine these to be in the fast forward mode. There are companies like Byjus that are in this mode,” said Nagesh.

Published on August 08, 2019
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