Future foresight with Renuka Jagtiani
The pandemic has created a new set of rules for the survival and revival of the retail industry but there are a few retail leaders who led by example during this tumultuous year to show the rest of the industry how it’s done.
Renuka Jagtiani, Chairwoman & CEO of Landmark Group, is one such leader who stepped up to work with her staff for her customers using all the technology that was at her disposal – but this process started much earlier.
“We started investing in e-commerce way back in 2012 when there was very little belief in the region. The first big omni event we did was White Wednesday in November last year. We had Saudi, we opened Kuwait and Qatar and we started our own fulfilment. It’s been a big shift but we couldn’t have shifted if we hadn’t started the journey earlier”, she said joining the Middle East Retail Forum virtually from her home.
The one thing that doesn’t change is how you look at priorities. The customer’s expectations have changed and the way we approach them should be far more creative and personalized.
Speaking of how she and her team dealt with the unprecedented challenges of 2020, she said “The one thing that doesn’t change is how you look at priorities. It is about the customer – investing in the customer in the omni journey, stores, the way we reach them through our loyalty programmes.
The customer’s expectations have changed and the way we approach them should be far more creative and personalized. We are investing a lot more in customer data and analytics”
However, while the customer is a very important aspect of the retail experience there are other elements that Jagtiani chose to prioritise too including product, value, and their own staff.
“The one thing Covid has taught us is that what sustains us well is product and value. Each business of ours has to build a value equation and a strong innovative stand on product. You can’t do that without your team as it is about attracting and retaining talent”, she said.
“We set up a steering committee at board level to look at cahsflow and treasury, inventory and buying, and costs. We couldn’t have stayed connected with people without technology. Every bit of connectivity has made a difference and helped bring people together”, she added.
The one thing Covid has taught us is that what sustains us well is product and value.