Sri Lanka Retail Forum 2019 to strategise on retail revolution

The Sri Lanka Retailers Association (SLRA) will organise Sri Lanka’s premier Retail Forum 2019, on November 27 and 28, 2019, at Cinnamon Grand Colombo. Conducting this event successfully for the fourth consecutive year, this year the SLRA intends revolutionising the retail industry to be future-proof, ready to take on consumers of tomorrow through the theme ‘The Retail Revolution’.

The SLRA was formally established with the intention being the apex body for organised retailing in the country with an ambitious vision of achieving ‘Retail Excellence’ by being the ‘voice of the retail industry in Sri Lanka’. Currently, the association represents over 42 leading corporates including members from diverse retail sectors such as FMCG, clothing, fashion and jewellery, household and consumer durables, footwear and accessories, e-commerce, entertainment and QSR and healthcare and wellness.

“It is said that the year 2019 and beyond is poised to be a transformational period for the global retail sector, with technology changing the rules of engagement, while consumers are more informed and therefore more demanding than ever. Amidst the clutter and noise, getting this customer to notice products or brands in the market is an even greater challenge,” stated SLRA Vice President and Sri Lanka Retail Forum 2019 Organising Committee Chairman Murali Prakash.

“With the current macro-economic factors affecting the local retail industry, this year’s forum intends rebuilding the confidence and boosting the morale of our local retailers. While equipping them with both local and global insights, the Retail Forum will encourage them to adapt to revolutionary advancements, which we believe will pose an opportunity for them to increase performance, thereby resulting a sustainable growth for the entire retail industry as a whole,” Prakash concluded.

Sri Lanka’s Retail sector accounts for approx. 34 percent of the country’s’ GDP, 14 percent of employment and over 250 million footfall per annum, thus contributing positively towards the national economy of the country. In the years 2016 and 2017 consequently, Sri Lanka was ranked 12th in the Global Retail Development Index (GDRI) among 30 countries for potential in retail investment and growth.

The 2019 Retail Forum, which spans over a period of two knowledge engrossing days, promises to be bigger and better with industry veterans from across the world and Sri Lanka promising to share their experiences. The focus will be to tackle four current issues/ scenarios under the following thematic sessions: Shaping Your Promise: Channels and Supply Chains, Redefining the Customer Experience, Navigating through Buzz and What Retailers Would Do In A Challenge - the New Retail (Global) Challenge.

The sessions will explore modern channels and supply chain processes and its importance for retailers to understand how this will evolve in terms of speed, models and service levels. The sessions will also elaborate on catering to a younger customer base while balancing an ageing population.

In addition to this, the practical side of implementing tech-based solutions will also be discussed in detail. It will also explore the role of technology in shaping the future of retail, moving beyond the hype to understand the opportunities available while exploring options and responses as retailers during critical economic climates.

The highlight of this year’s event is that there will be a representation from the Federation of Asia Pacific Retailers Association (FAPRA) at the forum this year, as the SLRA was recently appointed as its 20th member

This forum is ideal for those currently in or aspiring to join the retail industry, keen on shaping skills, identifying new trends and innovations in the industry.

For further details or registrations, participants are encouraged to call 115588852 and email niroshini@chamber.lk or 115588882 and email satheesha@chamber.lk.

The SLRA was established in 2015. Subsequently it was incorporated in June 2016 as a company limited by guarantee registered under the provisions of the Companies Act No 7 of 2007 and under the auspice of the Industry and Commerce Ministry.