The first session of the first day was dedicated to the National Marketing Summit, with the theme of “Future of Retail: Machines powering consumer buying behaviour”. We were honoured to host the esteemed panel consisting of Mr. Yogesh Bellani, Chief Executive Officer, FieldFresh Foods Private Limited, Ms. Jacqueline Mundkur – Group head, Consumer Service at the Future Group, Mr. Hitesh Malhotra, Chief Marketing Officer, Nykaa.com, Mr. Shishir Saxena, Associate Vice-President & Head – Market Development (Global), Brillio, Mr. Navin Agarwal, Senior Vice President, Welspun Group, Mr. Sandeep Kulhalli, Senior Vice-President of Retail and Marketing, Jewelry Division, Titan.
The discussion was moderated by Mr. Aditya Goel, Co-Founder, Love In Store. The summit started off with the esteemed guests offering their valuable insights on the topic.
Ms. Jacqueline Mundkur– Group head, Consumer Service at the Future Group kick started the discussion by stating that though technology is shaping consumer buying behaviour we cannot forget the complimentarity that bricks and mortar stores bring given that the economic development in India is highly uneven.
Mr. Hitesh Malhotra- Chief Marketing Officer, Nykaa talked about the ways data is driving businesses across the world and how easy it has become to monitor and target consumers based on the data available.
Mr. Shishir Saxena, Associate Vice President & Head – Market Development (Global) at Brillio Global took the discussion forward by saying that due to technological advances companies can very conveniently map the preferences of their consumers helping them to strategise according to the demands and needs of their consumers.
Continuing the discussion Mr. Sandeep Kulhalli, Senior Vice President – Retail and Marketing at the Jewellery Division of Titan Group said that, the biggest challenge for businesses today while using technology is maintaining personal touch without invading into the personal space of the customer. With the advent of technology it has become easier to track consumer preferences and market the services and products accordingly but at the same time the experience that a human presence gives cannot be sidelined especially in sectors like jewellery experience of buying the product is given a lot of importance by the customers.
Mr. Navin Agarwal, Senior Vice President at the Welspun Group believes that the demarcation between brick and mortar stores and online marketplace is slowly receding in the eyes of the consumer and that the distribution channel has now converted into omnichannel distribution.
Mr. Yogesh Bellani, Chief Executive Officer – FieldFresh Foods Private Limited stated how the customers today want to be seen as individuals rather than segments and technologies like machine learning and artificial intelligence are enabling the companies to provide customised services to people.
The session ended with the unveiling of Market Research Cell’s annual research journal named Insights by Insights, The Marketing Research Cell of IIFT.