The three days of events from August 22nd to August 24th witnessed some of the best minds brainstorm over the retail environment in India. FES – Food Entertainment Summit – an initiative by the RAI(Retail Associations of India) was held during 22nd - 23rd and the second event, the 4th Annual Wellness Conference was on 24th August, under the auspices of FICCI (Federation Of Indian Chambers of Commerce and Industry). Both these events highlighted the opportunities, threats and the transformation required that can take Indian retailing to new heights. Point Of Purchase provides a detailed report.
The Food and Entertainment summit (FES) 2012 brought together the best of minds in the industry to identify the various opportunities this thriving industry presents today along with some important points to ponder on. In his welcome speech Kumar Rajagopalan CEO, RAI, said that there is a huge potential to be tapped in the evolving food and entertainment industry which, according to him, is also opening up to new innovations. Rajagopalan’s opening speech was followed by many interesting discussions comprising panellists such as Jamshed Daboo, CEO -- Trent hypermarket, Atul Goel, MD -- E city ventures, R Shivashankar, Director -South Asia -Lavazza, Kishore Bhatija, CEO -- Inorbit Malls and all these sessions were engaging and informative. The panellists were unanimous in their view that for any successful venture a Food Court is a must, and that there is a strong indication that a person coming for a single coffee is going buy more than a coffee and with convergence rate being very high, this needs to be tapped appropriately. Some of the points discussed were about the size of food courts and the consistency of deliveries. It was also felt that a smooth working relation between the mall and the retailer was a must. Some burning questions raised included the one on how to address the morning and the night customers. It was also mutually believed by the panellist that a strong partnership with retailers was a critical element in the smooth functioning of a mall. Another moot point raised was related to the entertainment industry. It was observed that internationally the gaming is $54 billion industry and the average age for this entertainment activity is 37 years of age. So the question raised was: Does India have the infrastructure for these kinds of industries? The event ended on a grand note with celebrity chef Harpal Singh Sokhi from Food channel offering some cookery lessons to some of the dignitaries present.
The 4th Annual Wellness Conference 2012
The 4th Annual wellness conference 2012 discussed the Indian wellness industry and the offerings in the market place. According to Rashesh Shah, Chairmen of the Edelweiss Group, who gave the welcome speech, “The objective of this conference is to understand the shifting trend of the segment and customer needs. The industry has grown up to a 590 billion industry. As the population is quite young the awareness is growing.” The engaging discussion among other things observed how retailing of wellness products and services has brought up some important points for the industry. The panelists shared anecdotes and inspiring figures of the growth in the industry which helped in reiterating the fact that the wellness industry is expected to generate good revenues in the days to come with the retail aspect of sounding out the wake-up call. In fact the Indian health and beauty market has was estimated to be almost 1.73 trillion in 2011 which represents 3.7% of India’s private consumption expenditure of INR 46.7 trillion. The interesting panel discussion also witnessed how retailers are customising wellness products to enhance consumer demand