“We are seeing an unprecedented pace of evolution in India Retail, with proactive government policies improving the ease of doing business here and thereby attracting more Foreign Direct Investments as well as international brands into the country. This report encapsulates the latest trends and takes a close look at what the future holds for Indian retail, especially in the light of the rapid innovations in technologies which are bringing retailers closer to their customers than ever before”, says Pankaj Renjhen, Managing Director – Retail Services, JLL India.
He was referring to JLL India’s latest research report on the Indian retail real estate landscape, released at the CII India Retail Conclave 2017 in Delhi today. JLL India was the official Knowledge Partner for this event – which was, as always, attended by the Who’s Who of the Indian retail industry.
Entitled ‘India Retail: Change is the New Constant’ the report studies the latest trends and approaches driving this sector in India and globally. It also examines the new regulations and policies which are reshaping the way retail business is done in the country, the rapid-fire impact of technological innovations and the brands which have adopted technology to best advantage.
The retail world is undergoing a fast-paced revolution, one which is being driven by consumers and fuelled by tech advancements. The pace of this revolution is remarkable with no sign of slowing down, provided all stakeholders embrace this change simultaneously. With shopping centres taking steps to merge online experiences with offline ones, the future of retail is becoming increasingly exciting for both retailers and consumers. Social Media has its own role to play in this retail world and its importance will continue to grow.
Today, the first part of the decision making for the new age consumer is initiated before he enters the store. The physical store is an extension and culmination of his primary online journey. He carries the retail world within his mobile, with the entire shopping and leisure universe in his pocket!
The report comes to several key conclusions. Among these is the fact that with the need to merge online experiences with offline ones, the future of Indian retail will depend on how consumers evolve and retailers adapt. It also observes that the redefinition and reinvention of retail spaces in India to suit the needs of the younger generation is a phenomenon being witnessed in major retail markets across the globe.
Click here to download the report ‘India Retail: Change is the New Constant’
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