Post-Covid : Retail businesses across the globe prepare for the new normal scenario
By Retail4Growth Team | May 29, 2020
Over 250 Indian companies came together for an online discussion on post-Covid that focused on the movement of supply chain epicentres across the world, the relevance of digitalisation in a new, post-pandemic world and key challenges going forward in an uncertain, unpredictable world.
Hong Kong Trade Development Council (HKTDC) jointly with Federation of Indian Chambers of Commerce and Industry (FICCI) and Retailers Association of India (RAI) organised a Webinar on “Emerging Trends in the Global Supply Chain and Retail Landscape”.
With 250+ attendees from across the country and across industry sectors, the webinar panel discussions were focused on impact assessment for supply chain of retailers, movement of supply chain epicentres across the world, supply chain focusing on both cost reduction as well as risk mitigation, the relevance of digitalisation in a new, post-pandemic world and key challenges going forward in an uncertain, unpredictable world.
Panelists included leading industry veterans who provided relevant topical insights.
Rajesh Bhagat, Consultant South Asia, Hong Kong Trade Development Council (HKTDC) said, “HKTDC has channelized all its efforts to ensure that they are able to assist businesses from around the world to stabilise their supply chain and sourcing requirements even during this pandemic via virtual trade fairs, online marketplaces backed by customised business matching services. HKTDC would continue efforts to assist Indian exporters and MSMEs to reboot their businesses by helping them to meet either potential investors, new customers or suppliers through our various trade initiatives in Hong Kong.”
Kumar Rajagopalan, CEO, Retailers Association of India (RAI), said, “Changing consumer purchase patterns have changed and impacted the whole supply chain. Supply chain now needs to be extremely reactive to the situation, not only to survive but to thrive. Digital is the mantra of the day with every retailer, big and small, going digital to attract and keep customers”.
Sidram Kaudaki, BDM - International Sourcing, Amazon India said, “Digital shopping has increased and this helps MSMEs jumpstart their livelihood. Customer orders are spiking with sellers seeing 9x spikes in the last few days with a 3.6x spike in children’s books, 31x spike in robotic vacuum cleaners and 23x spike in purchases of dishwashers.”
Malladi Dinakar, Vice President - Corporate Affairs, Kerry Indev Logistics India said, “To carry out distribution, logistics industry created a digital support system in order to fulfill delivery of orders across India in the midst of the lockdown and tightening of all resources. Going forward, one needs to keep in mind that to mitigate disruption, you must have diversity in supply base either locally or countries that are closer while also working on the development of back-up suppliers. “
The webinar was moderated by Devendra Chawla, Co-Chair, FICCI Retail & Internal Trade Committee and Managing Director & CEO, Spencer's Retail Ltd. who summarised the webinar discussions saying, “The pandemic has forced companies to think beyond short term destruction to long term survival. The pandemic has made permanent changes in the global supply chain such as shifting and modifying of some global hubs. Efficiencies in the supply chain will have to be combined with risk reduction to keep it from further disruptions. Going digital is crucial as only the agile will survive.”