In this exclusive conversation with Retail4Growth, Vikesh Chheda, Director of JCA Architects shares his insights into the current dynamics and future prospects of retail design in India. 

The Expansion Has Certainly Not Slowed Down

Vikesh begins by highlighting the robust expansion of the Indian retail industry, noting a significant uptick in activity compared to previous quarters. "The approach towards store design, implementation, and execution may have undergone changes, but the expansion has certainly not slowed down," he observes. New projects are being launched at an unprecedented pace, reflecting the sector's buoyancy, he points out. However, this growth is accompanied by evolving demands from clients, who now seek more streamlined and organised project management to enhance budget efficiency, minimise wastage, and foster innovation, feels Vikesh.

Positive ROI is the Clear Outcome Expected

In an era marked by economic uncertainties and heightened cost pressures, retail clients are also increasingly focused on achieving a clear return on investment (ROI). Vikesh acknowledges this trend, stating, "Positive ROI is the clear outcome expected out of it." The need to deliver tangible financial benefits has led to a more strategic approach to store design, where every element is meticulously planned and executed to maximise profitability, says Vikesh and adds that retailers now scrutinise their investments in store design, seeking solutions that enhance aesthetic appeal and contribute to their bottom line.

Preliminary and experimental in terms of tech integration 

In terms of integration of front-end technology in retail design, Vikesh describes it as a "preliminary and experimental," phase suggesting that while there are hurdles to overcome, the potential rewards are significant. "The challenges are easy to negotiate, and since it’s a learning experience, it is an exciting time as an opportunity in retail design," he elaborates.

Indeed, technologies such as augmented reality (AR), virtual reality (VR), and artificial intelligence (AI) are transforming the retail landscape. And as Vikesh points out, these innovations offer immersive and personalised shopping experiences, driving customer engagement and loyalty. However, successful implementation requires a thorough understanding of both tech and retail domains, underscoring the importance of collaboration between designers and technologists. 

‘Cost-effectiveness and Value Buying are Key’

Contrary to the perception that store design expenditures are escalating, Vikesh asserts that spending is being carefully managed. "Certainly store spends are not increasing in any way. The reason is simple, most of the Indian markets are focused on cost-effectiveness and value buying," he explains. Retailers are leveraging innovative design solutions that offer high impact at a lower cost. This trend drives the adoption of modular designs, sustainable materials, and energy-efficient technologies, reducing expenses while enhancing the shopping experience, explains Vikesh.

Pain Points and Industry Resilience – A SWOT Analysis

When asked about the biggest pain points in the retail design industry, Vikesh's response is refreshingly optimistic. "I would consider zero pain points today. Every opportunity comes with challenges," he asserts. This resilience is a testament to JCA Architects' 50-year legacy in the Indian retail sector, where the ability to adapt and innovate has been key to their success.

As for Vikesh’s estimation of the Indian retail design industry as a whole, he feels it is poised for exponential growth, estimating its current worth at over 1 trillion dollars and projecting it to double by 2027. This optimistic outlook is grounded in the industry's strengths, weaknesses, opportunities, and threats, which according to him would be: 

Strengths: Robust growth trajectory, a rich pool of creative talent, and a burgeoning consumer market.

Weaknesses: Budget constraints and the need for greater ROI can limit creativity and innovation.

Opportunities: Technological advancements can revolutionise retail experiences, with a growing demand for personalised and immersive shopping.

Threats: Economic volatility and fluctuating consumer spending patterns can impact stability.