Chennai, August 28, 2024: The Retailers Association of India (RAI) held a landmark
‘Chennai Retail Summit 2024’ at the renowned ITC Grand Chola in Chennai, drawing
together leading decision-makers and industry frontrunners from across the Indian
retail sector. This year’s summit, centred on the theme “Changing World of Retail”
provided an engaging platform for retail executives and service providers to explore
emerging trends, share insights, and refine strategies in an ever-evolving retail
landscape.
The summit featured a stellar lineup of speakers, including Chockalingam S, Co-Founder
& Director of Opn Advertising Pvt. Ltd.; Balachandar R, Director of Junior Kuppanna; C K
Kumaravel, Co-Founder & CMD of Naturals Salon; Saurabh Kumar, CEO – Retail at
Kaleesuwari Group; Gautam Saraogi, CEO of Go Fashion (India) Ltd. (Go Colors); and
Madhumitha Udaykumar, Co-Founder & COO of The Indus Valley. Each speaker brought
a wealth of knowledge and experience, offering valuable insights into the challenges and
opportunities faced by the retail industry today.
Speaking about the Chennai Retail Summit, Kumar Rajagopalan – Chief Executive
Officer, Retailers Association of India (RAI), said, “Chennai Retail Summit highlights
the strength of Chennai as a market that was one of the earliest adopters of the chain
store model in India. Retailers from the region —across Tier 1 to Tier 3—have successfully
navigated the complexities of modern retail while staying true to their cultural roots. In an
industry marked by critical shifts such as time poverty and the growing demand for
hyperlocal solutions, the region’s ability to retain tradition while embracing
modernisation sets it apart. As consumers increasingly prioritise convenience and
personalized experiences, retailers must pivot their strategies to meet these evolving
needs. The ability to adapt quickly and innovate in response to these changes is what will
define success in this dynamic market.”
Sonali Lalvani, CEO, Toniq Retail Brands, said, “The modern retail environment
demands agility and an in-depth understanding of consumer behaviour. As retail shifts
from traditional brick-and-mortar to omnichannel experiences, brands that prioritise
seamless customer journeys and personalized interactions will thrive in this
competitive market.”
Anand Bharadwaj, Co-Founder, Sweet Karam Coffee, said, “In today’s retail
landscape, it’s not just about selling a product; it’s about creating a story that resonates
with consumers along with the right value-added experiences. As we see a shift toward
local and authentic preferences, brands that can harness the power of tradition with a
contemporary twist and blend it with modern retail practices will find themselves
leading the way.”
C K Kumaravel, Co-Founder & CMD, Naturals Salon:
The future of retail lies in the ability to innovate using technology while staying true to
your brand’s core values. In the beauty and wellness sector, this means continuously
evolving our services to meet the changing needs of our customers while maintaining
the essence of what makes us unique. The key is to listen, adapt, and always put the
customer first.
Madhumitha Udaykumar, Co-Founder & COO, The Indus Valley, said, “Indians are
more likely to choose a healthy product over an unhealthy one, with an increasing
preference for toxin-free and safe options. This shift accompanies a trend toward
premiumization. Thankfully, today’s customers are very vocal about their needs. For
retailers, this means a significant opportunity to expand their sales pie and increase
gross margins by introducing these new-age offerings driven by customer demand.”
The Chennai Retail Summit 2024 once again underscored RAI’s commitment to
supporting the growth and advancement of the retail sector, offering a vibrant forum
for industry leaders to collaborate, innovate, and drive the future of retail in India.
