ReTechCon-2019 highlighted the innovations in Retail Technology

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The Retailers Association of India (RAI) organised the 14th edition of the ‘ReTechCon 2019’ – India’s largest congregation of CIOs/CTOs, business heads, technology service providers and experts in retail, on September 18 and 19, 2019 at The Renaissance Hotel, Mumbai.

This year, the theme of the conclave was Technology Driven Leadership – The Algorithm of Success. ReTechCon is designed to help retailers understand the rapid changes in technology and adapt to them accordingly, for the benefit of their businesses as well as consumers.

“Businesses have had to rethink their relationship with consumers at every stage of the buying cycle—from discovery, transaction right up to post-purchase engagement. Whether they realise it or not, most organisations in today’s connected economy are already going through some kind of a tech-driven transformation,” said Kumar Rajagopalan, Chief Executive Officer, Retailers Association of India (RAI), speaking about the theme.

“What’s required for companies to thrive in this connected age is a leadership that understands change and embraces it. Technology and Leadership are undoubtedly the two pillars of business transformation, making them the focus of ReTechCon 2019,” he added.

This year, the list of panels during the event included some eminent names from the industry on both the days who discussed on how technology can be used effectively for the growth of retail industry in India.

Various critical aspects of retail technology were touched upon during discussions on topics like:

  • Customer Experience: The Competitive Advantage
  • Tech-Driven Innovation: Powering Business, Enabling Growth
  • Digital Retail Transformation: Successful Customer Experience Strategy through Technology
  • Omni-channel Retail: Cross-Channel Strategies that Work for Customer Delight
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The first day of the conclave culminated into the ReTech Start-up Awards 2019, which recognise start-ups that are set to change the fabric of business with their unconventional ideas.

Technology is one of the best enablers. What it does is allows one to do many more things, faster. It is the only way to scale a business; you cannot do it with human capital alone. The more you adopt, the faster you can grow. As leaders you have to accept that technology is the way forward because the biggest resistance comes internally. Internal acceptance is key for technology to play a critical role. Even we wouldn’t have been able to scale our business unless it was enabled using some world-class technologies,” said Rakesh Biyani, Joint Managing Director, Future Retail Ltd. about technology-driven leadership during his session based on the theme.

The second day of the conclave was a deep dive into case studies shared by

  • Akshay Jatia, McDonalds India (Hardcastle Restaurants Pvt. Ltd.) on From Food to FoodTech – McDonald’s journey to being a technology leader
  • Amit Verma,Bigbasket.com on TechXcellence: How Bigbasket Uses Technology to Achieve Zero Error Operations
  • K Radhakrishnan, StarQuik (TATA Group) on Changing Phase of Digital Commerce in India

Furthermore, the key highlights on the 2nd day were the thought-provoking discussions on topics such as Unlocking Supply Chain Potential for Speed, Transparency & Reliability; Future Focus: Rethinking Retail with RPA, AI and ML; and New Age Marketing – Beyond Discounts: Personalised, Engaging, Digital, which kept the audience captivated.

On a parallel track, RAI also hosted the ReTechCon SME Conclave 2019 themed ‘Managing Business Growth with People, Process & Technology,’ which provided exposure to technology solutions and services specifically meant for SME Retailers.

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