Digitalisation is a gamechanger in the retail industry – retail stalwarts come together to discuss revolution and its impact

Dubai: The Indian Business & Professional Council (IBPC), Dubai, one of the oldest business organisation, was again at the forefront in recognizing the large role Retail Industry plays in the UAE’s economy by organizing the first, annual “Retail Conclave” at The Taj Dubai hotel on Jan 12th, 2022.

The focus was to recognize the contribution made by large retail conglomerates and the Dubai government entities in making Dubai a popular retail hub for consumers worldwide. Key retail stalwarts attended the event to discuss the latest industry developments and assessed the impact and opportunities through speeches and panel discussions by the industry heads from different backgrounds and experiences.

Among the key speakers was Kuruvilla Markose, he led the conclave with his stellar speech and spoke extensively on the topic of “Retail Revolution and its global impact” virtually. Markose advised retailers on how they deal with the rise in online commerce by being omnipresent and focusing on “Farming the customers” than “hunting the customers”. Kuruvilla Markose is the COO for the International Business Division of Titan Company Limited (Tata Group).

During the event, TheBrew got the chance to interact with Deepak J Babani- Executive Vice Chairman EROS Group. Ritesh Mohan Consultant Editor – Business talked with Deepak J Babani on the challenges of retail industry against the online market.

The panel discussion was hosted by Mr. Manoj Abraham Mathew of ZEE TV Group focused on “Digital Disruptions and Emerging Opportunities”. The panelists were industry stalwarts from the Retail and Banking sectors discussing a wide range of topics from digital transformation to online commerce to bitcoins and cryptocurrency. The participants included prominent industry leaders like Abdulla Ajmal (Dy. COO, Ajmal Perfumes), Ashish Panjabi (COO, Jacky’s Group), Deepak Babani (Ex-Executive Vice Chairman, Eros Group), Sachin Wadhwa (MD, Al Futtaim Electronics, Watches and Jewellery), Sivaram Ramakrishnan (EVP – Head of Retail Banking Products, Emirates NBD) and Sethu Ramaswamy (Regional Head, Priority & Premium Banking, (AME/E), Standard Chartered Bank).

Feature editor of TheBrew Babar Siddiqui interacted with Ashish Panjabi, Chief Operating Officer- Jacky’s Group, and talked about the future of the retail industry and customers’ journey.

Speaking on the success of the event the Chairman of IBPC, Mr. Suresh Kumar said, “The Retail Conclave has immensely helped retailers in expanding their knowledge about the new technologies being implemented in the retail sector. In addition to offering engaging insights on disruptive technologies within retail, the Conclave offered opportunities for meaningful dialogue on how to capitalise on these technologies”. “The Retail Conclave discussed how the digital revolution in the retail industry has also revolutionized the C-suite job functions. Conglomerate leaders would need to be good change managers in the future with an eye for technology.”, said, Mr. Dilip Sinha, Secretary-General, IBPC.

Dr. Aman Puri, Consul General of India, Dubai, highlighted the contributions made by legacy Indian retailers for the local economy as well the benefits received by the Indian Retail Markets through their expertise, knowledge, etc. LuLu Group was awarded the “Retail Recognition Award” recognizing its huge retail presence not only in the UAE but across the South East Asian region. Dubai Chamber of Commerce & Industry, Dubai Customs, and the Consulate General of India, Dubai were awarded the “Enterprise Support Recognition Award” in recognition of their continued support to the retail industry. Jashanmal Group was awarded the “Legacy Retail Recognition Award” for being one of the oldest retail conglomerates in the region.