Bengaluru : Retailers Association of India (RAI), the apex body of small, independent and large retail businesses in the country, hosted Retail Technology Conclave 2018 (ReTechCon), the industry’s only technology-focused knowledge-sharing platform. The theme for the two-day Conclave was ‘Intelligent Retail: What is Smart’.

Speaking about the relevance of the theme to retail businesses, Shri Kumar Rajagopalan, CEO, RAI said, “Today, consumers expect to be recognised by retailers when they visit and be given specific offers, deals and services. It is not about retailing anymore, but about Me-tailing. This is pushing retailers to give concepts that are much more technologically advanced and are focussed towards individuals. ‘What is Smart?’ is a question that has been going through the minds of most retailers as it is also something that many consumers are embracing, many times intuitively. It is with the intention of helping retailers understand all that is latest that we have themed ReTechCon on the topic,” said Kumar Rajagopalan, CEO, Retailers Association of India.

The Keynote for the first day of the Conclave was delivered by Ashish Chauhan, MD & CEO, Bombay Stock Exchange. “Waves of technology will come. If you can ride them as retailers, you will be able to thrive. Focus on non-linearity it allows you to move fast. Artificial Intelligence is like electricity, it can be used in any situation. Learn how to use it and other smart technologies effectively. With smartness you can do many things. It’s a deluge, if you do your bit, continue to evolve, you will thrive,” he advised retailers.

Up next was a riveting special address by Nasscom President Debjani Ghosh, who gave retailers immense food for thought. “We use tech words wrongly—we should really understand what they mean and what they do. Going forward, no single technology will have the biggest impact; It is going to be the orchestration of technologies. How do you transform the brick and mortar store with the application of data science, and how you integrate offline and online, that’s going to be the future. How do retail businesses survive the waves of disruption? Like Jeff Bezos said, keep the consumer in the centre of everything you do and you’ll be fine,” she said.

The audience was treated to many more insights on cutting-edge technologies such as Internet of Things, bots and Artificial Intelligence, and relevant topics such as Customer Engagement in a Digital-first World, the transformation of point of sale into point of experience and winning the Gen Z.

What acted as a magnet for retailers and technocrats alike was the showcase of transformative technologies such as Virtual / Augmented reality on display by partners.

The event was the preferred platform for the release of several products and a report by RAI & ValueFirst titled ‘Eyeing Consumer Intelligence in Retail,’ that helps in understanding the state of e-Retail in the Indian marketing context. Providing synthesized insights from 350+ India marketers, this comprehensive resource deep dives into statistics, trends, opportunities and challenges for the modern day marketer to help them formulate digital marketing strategies that deliver a higher ROI.

ReTechCon 2018 also hosted the third addition of ReTech Startup Awards, instituted to celebrate the spirit of entrepreneurship. Out of the scores of entries received, 10 shortlisted start-up companies presented 10-minute elevated pitches to a Grand Jury. The top 3 winning start-ups were then felicitated at a gala ceremony the same evening. “Many retailers are finding great value in working with startups that are helping them cope with the changing times and consumer demands. Through the Awards, we, at RAI, seek to identify such startups and recognise their contribution to the growth of smart retail in India,” said the RAI CEO.

With so much on offer, Retail Technology Conclave 2018 proved to be the ultimate platform for cutting-edge technology in retail.