Integrated digital & retail experience holds key to the future

As the grand finale of the convention at In-Store Asia 2015, a session moderated by Jayant Kochar, MD, Go Fish Retail Consulting and panellists including Sadashiv Nayak, CEO - Big Bazaar, Yogesh Samat, Director - Foresight Opticals and Natasha Tuli, Co-Founder & CEO - Soulflower discussed "The Retail Store of the Future”.

Yogesh Samat warned that if your business model is based only on the strength of your physical presence, then your business is at big risk. Online presence is going to be an integral part of store presence. Commenting on the future trends in retail, he said, "Transactions will require less humans as self-help customers will dominate the scene. Integrated digital and retail experience will be the future of retail.”

Stressing on the concept of irreverence in his presentation, Sadashiv Nayak said that the old ideas will come back like Nanny's recipes. "Personalisation of products will be a big hit. The active involvement of customers will be the big phenomenon and customers will become the new shareholders.”

Natasha Tulli shared the list of things which have not changed over the period, and will continue to matter in the coming time too. Customers still want to touch and feel the product as touch fuels emotion. Customers will be hungry for details as they would like to know how the product was made and what ingredients were used. "People will use retail space for social gatherings as people will have more spare time. And we can give them enhanced experience so that they keep coming back to us,” Natasha concluded.