Changing consumer shopping preferences, digitally transforming businesses, on-demand approach, rise of millennials as consumers, more technology integration and customers’ shifting loyalty towards brands are key factors which will further pose great challenges to the retailers in the upcoming decade. In short, Technology; E-commerce; Sustainability; Millennials; Omnichannel; Value Fashion; Emerging Market Segments, are expected to be some of the biggest influencers for the Indian fashion retail.
While consumers will play a major role in deciding when and what should be produced, technologies like artificial intelligence, chatbots, blockchain, augmented reality are already changing the game of retail. Going forward, these technologies will be even more significant not just to increase the shopping experience for the consumer, as much as possible within a retail store and in the digital space - but also to manage the complete supply chain. Collectively all these factors will impact product, sourcing, manufacturing and retail as a whole.
Our panellists are top retailers of India and are very much abreast with this topic and will share their insights into the future of Indian retail.