Retail Stalwarts deliberate on Navigating Change in the Indian Retail Landscape the Chennai Retail Summit 2023

Chennai, August 9, 2023: The penetration of modern retail in Indian Tier 2 & 3 cities has
witnessed a significant upsurge, reflecting the growing consumer base and evolving shopping
preferences. Thus, focussing on the need for flexibility and adaptability in the ever-evolving retail
sector, Retailers Association of India (RAI) hosted the most awaited ‘Chennai Retail Summit
2023’ (CRS 2023) emphasising on ‘Adaptable Retail: Navigating Change in the Indian Retail
Landscape’ on August 8, 2023 at the ITC Grand Chola Hotel, Chennai.
The summit explored strategies for effectively responding to market fluctuations, economic shifts,
and emerging consumer demands. By focusing on this theme, CRS 2023 was aimed to equip
retailers with the tools and insights to thrive, while continuing to meet the needs of their
customers.
Speaking about the theme of the Chennai Retail Summit 2022 (CRS 2022), Kumar Rajagopalan,
CEO, Retailers Association of India (RAI), said, “The evolving retail sector continues to fostering
economic growth and job opportunities while catering to the evolving aspirations of consumers. The
Tier 2 & 3 cities in India present a promising outlook for brands to expand their footprints across
the vast landscape of India. While national brands can penetrate deeper into various regions of
India, the regional brands have an opportunity to evolve and go beyond their local boundaries. To
foster such exchange and knowledge sharing among brands and retailers, we organize regional
summits like the Chennai Retail Summit. These summits provide a platform for fruitful discussions
and collaborations.”
Speaking about retail landscape in the southern region of India, Suhail Sattar, MD, Hasbro
Clothing and Chennai Chapter Chairman of Retailers Association of India, said, “….”
Key highlight of the summit was the signing of MoU Between FaMeTN and RAI to support MSME
trades in Tamil Nadu. The MoU signing was followed by a special address by Grace Lalrindiki
Pachuau, IAS, Additional Commissioner, ICDIC and Executive Director, FaMeTN.
Chief Guest of the Chennai Retail Summit 2023 (CSR 2023) Mr. C K Venkataraman, Managing
Director, Titan delivered a keynote at CRS 2023. During his Keynote address he expressed, “Post
pandemic, over 85 per cent of retail sales in the USA came from physical stores. This shows that
people are happy to visit stores and shop. Even D2C brand stores have garnered a fair amount of
business compared to online, showing that Brick and Mortar is here to stay.”
The audience were captivated by the insightful special addresses delivered by industry leaders
such as Senthil Natarajan, Director, Kovai Pazhamudir Nilayam; A. B. S. Sanjjay, Managing Director,
AVR Swarna Mahal Jewelry; and Venkada Subbu, Managing Director, Darling Residency Group of
Hotels & Bakeries.
This edition of the Chennai Retail Summit 2023 (CRS 2023) encompassed various aspects of retail
through invigorating discussions and sessions led by retail veterans, retailers, brands, and
experts. The topics of discussions included:

▪ Embracing Change: Strategies for Adapting to the Regional Retail Landscape
▪ The Tech-Forward Retail: Harnessing Technology for Enhanced Retail Experiences
▪ Breaking the Glass Ceiling: Advancement and Empowerment of Women Retailers

▪ Understanding the Modern Shopper: Unveiling Motivations, Preferences, and Decision-
Making Factors

▪ The Best of Both Worlds: Balancing Advantages of Online with Physical Store Strengths
More than 40 retail stalwarts were sharing knowledge through these panel discussions like
Balachandar R, Director, Junior Kuppanna; Balaji Chinnaswamy, CEO, VNH Naidu Hall Family

Store; Balakrishnan GP G, Leadership Team, Super Saravana Stores; C K Kumaravel, CEO & Co-
founder, Naturals Salon; Lavanya Pachisia, CEO, Zivame; Subhash Chandra L, Managing Director,

Sangeetha Mobile; Sunil Sanklecha, Founder, Nuts n Spices; to name a few.
During the panel discussion on Embracing Change, Sunil Sanklecha, Founder, Nuts n Spices, said,

“As a frontrunner in the market, our commitment to innovation has been spurred by the ever-
evolving food habits of our customers.”

Subhash Chandra, Managing Director, Sangeetha Mobiles, added, “The deep discounted pricing by
online competitors is no longer valid, and the momentum of online expansion has also decelerated.
Nonetheless, as a conventional brick-and-mortar establishment, we are actively rectifying our online
play. Our approach now includes pin-code based deliveries, resulting in over 80 percent of orders
being fulfilled within a span of less than two hours.”
Lavanya Pachisia, CEO, Zivame, said, “There is a notable surge in individual interest, with
conversations emerging around a formerly taboo category. This transformation is likely due to
brands like ours, which tackle women’s challenges head-on and offer effective solutions. The
COVID-19 pandemic acted as a catalyst for our online expansion, and currently, we are witnessing
growth across multiple channels.”
Balakrishnan GP G, Leadership Team, Super Saravana Stores, “In the traditionally run businesses,
change is seen as increase in risk by the owners, which is the bitter truth. The business owners
need to take a close look at their actions and self-examine what they are doing. Technology helps
us speed up processes, but we are struggle with marketing and must be more careful with
spendings.”
Balaji Chinnaswamy, CEO, VNH Naidu Hall Family Store, said, “The consumer behaviour
changes are multifaceted, covering various aspects like purchasing methods and trends,
increased customer knowledge about what’s fashionable. Local retailers have an edge due to
their personal connections with customers. As long as they understand how to meet local
demands, they remain successful.”
The Chennai Retail Summit 2023 (CRS 2023) concluded with a gala felicitation ceremony of the
Indian Retail Excellence Awards 2023 that recognised the stars of retail who have shone brightly
despite all odds.
Over the years, ‘Chennai Retail Summit’ (CRS) has come to be known as the premier platform for
retailers with business interests in South India to gain knowledge and network with peers,
potential partners and industry leaders.