Retail future outlook in a Covid 19 World!! -27th APRIL – 1ST MAY 2020 | Virtual
Anil Menon, General Manager, Information Technology, Tata Starbucks in the context of cash preservation highlighted the need to restructure the technology requirements in the business. He hinted at meaningful collaborations and how that will be the call of the day in the post-COVID world. Following in like, Ranjan Sharma, CIO & Head of Supply Chain, Bestseller mentioned that it is time to question the penny spent on technology. Now the need of the hour is to keep afloat, that’s why even though investment in technology is a must. but there will be caps and questions in place and only the most profitable technology investment will need to be honoured to preserve cash.
Social distancing to favour niche technology
Kunal Mehta, CIO, Raymonds mentioned that technologies that allow the customer to choose products without nil to less touch and feel will actually take the centre stage now, given the concerns of hygiene and safety. Stringent SOPs will be in place covering all aspects of hygiene and safety at every brick and mortar store, irrespective of whether they are franchise stores or own stores.
The business of food delivery up for a change
David Zakkam, VP-Analytics, Swiggy highlights that the entire SOP of restaurant operation is going to change in the post-COVID era. Swiggy has introduced the concept of ‘safety tag’ for restaurants and in order to get their food delivered through Swiggy, the restaurants have to show proofs that they are abiding by the hygiene and sanitisation concerns as per government and medical norms. Masks for the food operators to restaurant staffs, every 4-hr sanitisation at the restaurant, and other measures that the restaurants have adapted now will become a constant in the post-COVID world as well.
Ensuring regular audits for garment delivery
Dipayan Chakraborty, Head Analytics, Myntra highlights that the entire supply chain at Myntra has always abided by hygiene norms and at every level the QC has always been given utmost importance. Taking a leap from there, now the brand is further streamlining the supply chain at various points to make the process more stringent. In an effort to make it totally safe for the consumers, Myntra is thinking of a double-packaging for parcels. This way the product packet will be untouched by the courier or any other person on the way to complete the delivery fulfilment.