Thursday, Feb 29 2024 | Time 07:37 Hrs(IST)
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Business Economy


DLF holds first ever New Retail Summit in Delhi

New Delhi, Mar 25 (UNI) Real estate major DLF on Sunday hosted the first ever
New Retail Summit here in collaboration with the PHD Chambers and Signcatch.
The Indian Retail Industry has emerged as one of the most dynamic and fast-paced
industries in modern India's history. Providing a play-field to several new players, it
accounts for over 10 per cent of the country's Gross Domestic Product (GDP) and around
8 per cent of the employment, the company said.
The sessions highlighted the changing landscapes and disruptive impact of smart technology
on brick and mortar businesses globally and featured various discussion panels with experts
across various sectors. The panellists also focussed on the challenges faced by the retail industry
such as archaic legacy systems, lack of payment infrastructure, etc. as experienced by MSMEs
for expanding their scale.
Pushpa Bector, Chairperson, Retail Committee and EVP & Head of DLF Shopping Malls said,
“There is a pressing need for the retail industry to evolve in order to cater to the rapidly growing
segment of the digitally savvy consumer, who is always connected on social media and
expects a seamless online and offline experience. Thus, laying the foundation for New Retail with
differentiated products, personalized offers, self-service options and end-to-end lifecycle nurturing.”
“The e-commerce industry has revolutionised the retail industry.
Technology is expected to play an integral role in shaping the
industry for the future. Technology enabled innovations like Smart
Stores, Digital Payments, Hyper-local logistics, analytics driven
customer engagement and digital advertisements are expected to be the
drivers for growth within the sector.”
With a beneficial demographic dividend of the world's second largest
young population, an affluent middle class, and rapid urbanisation and
percolation of the internet across all strata, India is viewed as an
attractive global destination within the retail space, the company
added.
UNI SDR AE 1857
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