Tuesday 28 February 2017

Technology Changing Face of Retail in India:Experts

By 121 News

Chandigarh 28th February:- The Postgraduate Department of Commerce at MCM DAV College for Women organized a UGC sponsored national seminar on 'Retail makes headway, pulling out all the stops: An Indian Perspective', here today. Aimed at engaging in deliberations on the global phenomena that retail is and examining the various facets of this dynamic and fast paced industry from the Indian point of view, the seminar saw convergence of academicians as well as students from across the nation. Chief Guest Prof. Parvinder Singh, Controller of Examinations and Dean, College Development Council, PU in his inaugural address, reiterated that liberalization coupled with strong economic growth has revolutionized the retail space in India, but the opportunity to capitalize on this upsurge is riddled with the challenge of merging the organized and unorganized sectors of this industry. Delivering the presidential address, Prof. Amrik Sohal, Monash Business School, Monash University, Australia termed e-commerce as the biggest revolution in the retail industry and opined that successful retail management in this tech-savvy world entailed managing customer experience, bridging the physical and virtual worlds and a unified communications framework. The keynote speaker on the occasion- Prof. Manoj K. Sharma, UBS, PU shared his insights on 'Strategic behavior of firm in building retail'. During the two highly informative and engaging technical sessions, paper presentations explored topics like impact of GST on retail sector, FDI in retail, digital payments, innovative practices in retail, future prospects, opportunities and challenges of Indian retail industry, e-tailing, store choice in organized retail, women empowerment in retail sector, showrooming, online consumer behavior, technological interventions in modern retail industry and, human resource management and corporate social responsibility in retail.  

The seminar concluded with valedictory address by Prof. S. K. Chadha, Chairperson, UBS, PU. While underlining the role of technology in revolutionizing the world of retail, Prof. S. K. Chadha opined that the biggest challenge for the retail sector lies in leveraging the digital retail channels through effective adoption and implementation of these technologies for better prospects for the overall retail industry.

MCM Principal Dr.Nisha Bhargava highlighted the contextual importance of this endeavor in providing valuable insights for a better perspective of the retail industry.


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