Before the Union Budget 2022 was presented, there were umpteen rounds of discussion and expectations regarding how it will be helpful for the retail industry, what are SOPs being brought in for the industry and how they can benefit from the same. India’s retail market is expected to become a $1.5 trillion market by 2030, from $0.793 trillion in 2020. So, the industry looking up to the Budget announcements was an obvious. Major players were keen on getting some favourable announcements that look at the whole industry as a whole. They were very keen on getting some roll outs that consider the online-offline retail with similar weightage and the categories of retail with equal weight.
This issue we bring to you varied budget analysis in order to present the reality for the retail industry, straight from the thought leader’s perspective. We have weighed in the pointers put in by leading analysts alongside the retail industry to understand what the 2022 Union Budget has in store for you for each one of us, across sectors and categories. Apart from the budget thoughts we have also exclusively covered some technology-led reports and analysis, which helps us see how the industry can use varied platforms and simple tools to bring in a big difference in retail and the way of doing business.
It is all about understanding the customer and be it the new-age brands or the traditional players, the concept of doing business does not alter, what changes is innovation and strategies. Thus, we try to look closely at product innovation and the concept from the perspective of newer brands and big players, alike. We closely narrate the story of product development and how most players have marketed the same to create a niche for themselves.
With this, we move on to looking at several new aspects of retail, brand journeys and some newer brands too. What is exciting is that there is a radical shift in the mindset of the customers and how they shop. This in turn is presenting a very challenging yet promising path for the brands and retailers, as they continue to experiment and bring in a new flavour in everything they do. Thus, with a packed schedule of events this year, we promise to entice our audience by opening the podium to growth stories and new narratives from the retail universe. Stay on with us and let us together set a new tone for retail with some exciting stories!