Mumbai, September 25, 2024: The Retailers Association of India (RAI) successfully hosted the 18th edition of the Retail Technology Conclave, ReTechCon 2024, on September 24th and 25th in Mumbai. This premier event brought together retail CEOs, CIOs, technology service providers, and industry experts to explore the latest trends and innovations in retail technology.
ReTechCon 2024 offered participants a comprehensive deep-dive into cutting-edge technological advancements, blending the depth of a masterclass with the scale of a conference. Attendees gained valuable insights into sustainable tech solutions, global trends, and innovative disruptions to address retail’s operational challenges.
Key topics discussed included strategies for Digital Transformation, enabling businesses to future-proof their operations and the growing influence of AI in revolutionising marketing and inventory management. Sessions also covered Direct-to-Consumer (D2C) strategies, Omnichannel Excellence for seamless customer journeys, and the impact of Augmented and Virtual Reality (AR & VR) in reshaping customer experiences.
Speaking about MMR 2024, Kumar Rajagopalan, CEO, Retailers Association of India (RAI), said, “ReTechCon 2024 highlights the role of technology in shaping the future of retail. As the retail environment evolves, this platform offers businesses practical insights into innovations like AI, immersive shopping, and social media marketing tools. The discussions focus on how businesses can adapt and grow in a fast-changing market. With technological advancements, retailers are finding new ways to simplify the shopping experience and give back valuable time to consumers. ReTechCon is about connecting retailers and service providers.”
K Radhakrishnan, Director, StarQuik, A TATA Enterprise, said, “The retail landscape is evolving at a rapid pace, and even though technology is acting as the catalyst for this transformation, From AI-driven personalization to data analytics, retailers now have the tools to create more meaningful and efficient customer journeys but this is dependent on the ability to align technology to the actual delivery on the ground. Technologies is not the business. It is an enabler.”
Vikram Idnani, President, Chief Information Officer, Landmark Group, said, “Technology is at the heart of transforming retail operations, from streamlining supply chains to enhancing customer experiences. The use of AI, automation, and data analytics is helping retailers make faster, smarter decisions, ultimately driving efficiency and growth. In a rapidly evolving industry, those who can leverage these technologies and techniques to create seamless, omnichannel and personalised experiences will be better positioned to meet the changing demands of consumers and gain competitive advantage.”
Nikhil Bhushan, Chief Technology Officer, Tata Starbucks, said, “Retail technology is redefining how we connect with customers, offering smarter, more personalized experiences. From data analytics to AI, these tools are allowing us to understand consumer preferences in real time and respond with agility. In the coming years, we’ll see technology playing an even bigger role in shaping seamless, omnichannel customer journeys. Retailers who leverage these advancements will not only improve operational efficiency but also create stronger, more lasting relationships with their customers.”
At ReTechCon 2024, over 80 distinguished speakers shared their invaluable insights, enriching the discussions with diverse perspectives on retail technology. A key highlight of the event was the exploration of digital-first brands, where leading Direct-to Consumer (D2C) names like Neeman’s, The Pant Project, Urban Platter, Naagin, TagZ Foods, Mcaffeine, and others took centre stage.
Discussions at ReTechCon 2024 highlighted the key trends transforming retail technology, offering valuable insights into pivotal industry shifts. Noteworthy topics included:
∙ Efficient Tech Solutions that streamline operations and drive business growth ∙ National and International Tech Trends, showcasing innovations shaping the future of retail
∙ Adapting to Dynamic Business Environments through cutting-edge technology ∙ Inclusive Tech Adoption, promoting accessibility for retail organisations of all sizes
∙ Interactions between IT Solution Seekers and Providers, fostering valuable partnerships
∙ The Rise of D2C Brands, offering a platform for emerging digital-first companies
Additionally, the conclave presented the ReTech Startup Awards 2024, honouring top retail technology startups with the potential to revolutionize retailers’ ventures.
Speaking about the ReTech Startup Awards 2024, Dr. Hitesh Bhat, Director Marketing & Communications, Retailers Association of India (RAI), said, “The ReTech Startup Awards are a celebration of entrepreneurship and innovation, recognizing the trailblazing startups that are redefining our industry. These awards acknowledge the bold vision and creativity needed to transform ideas into impactful businesses. In a rapidly evolving digital landscape, it is essential to support these pioneers who are not only reshaping the future of commerce but also inspiring a new generation to harness the potential of a digital India.”
The winners of the 9th edition of the ReTech Awards 2024 are:
∙ Winner: Xploro Technology Pvt. Ltd., Tarsyer Insights LLP
Xploro Technology Pvt. Ltd.
Xploro Technologies specializes in custom software solutions that automate and optimize business processes. They offer cost-effective, reliable IT services, helping businesses scale through tailored applications and hardware recommendations, either via clients’ partners or Xploro’s associates.
Tarsyer Insights LLP
Tarsyer Insights LLP, founded in 2020 and based in Koregaon Park, Pune, specializes in computer vision technology. With a focus on manufacturing, warehousing, and security, the team develops advanced vision algorithms to solve complex industry challenges. Drawing on extensive experience in optimizing operations, they are driven to explore new opportunities and push the boundaries of innovation.
∙ First Runner Up: Tryitfirst Labs
TryItFirst Labs is a tech-driven e-commerce start-up transforming online shopping with its “Try Before You Buy” model. It allows customers to physically experience products like apparel, furniture, and appliances at their doorstep before purchasing. Focused on enhancing customer experience, especially in Tier 2 and Tier 3 cities, TryItFirst also helps brands improve by providing feedback based on real customer trials.
∙ Second Runner Up: iAmX
iAmX offers an integrated retail management software suite that streamlines operations, optimizes inventory management, and enhances customer experiences. By consolidating point-of-sale, order processing, CRM, and delivery management into one platform, iAmX enables data-driven decision-making and increases efficiency while reducing costs. Designed for retailers of all sizes, iAmX empowers businesses to thrive in the competitive digital landscape through insightful analytics and seamless workflows.
