Unveiling Cutting-Edge Innovation at ReTechCon 2024 AI Developments & Retail Technology’s

Mumbai, September 25, 2024:ReTechCon 2024, the 18th edition of the Retail Technology Conclave, was successfully held in Mumbai on September 24 and 25, by the Retailers Association of India (RAI). Retail CEOs, CIOs, IT service providers, and industry experts convened at this premier event to examine the most recent developments and trends in retail technology.

ReTechCon 2024 combined the breadth of a conference with the depth of a masterclass to provide attendees with an extensive deep dive into cutting-edge technological breakthroughs. In order to meet the operational issues facing retail, attendees obtained insightful knowledge on global trends, creative disruptions, and sustainable tech solutions.

Among the important subjects covered were digital transformation tactics, which help companies prepare for the future of their operations, and the increasing impact of artificial intelligence (AI) on marketing and inventory control. The impact of augmented and virtual reality (AR & VR) on transforming customer experiences, direct-to-consumer (D2C) strategies, and omnichannel excellence for smooth customer journeys were also discussed in the sessions.

The CEO of the Retailers Association of India (RAI), Kumar Rajagopalan, stated during MMR 2024 that “ReTechCon 2024 highlights the role of technology in shaping the future of retail.” This platform provides organizations with useful insights about breakthroughs like artificial intelligence (AI), immersive shopping, and social media marketing tools as the retail industry changes. The talks center on how companies can develop and adapt in a market that is changing quickly. Retailers are developing new strategies to streamline the shopping experience as a result of technological improvements.

K Radhakrishnan, Director, StarQuik, A TATA Enterprise, said, the retail industry is changing quickly, despite the fact that technology is driving this change. Thanks to data analytics and AI-driven personalization, retailers can now design more effective and meaningful customer journeys, but this depends on their ability to match technology with real-world delivery. The business is not technologies. It serves as 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:

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:

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, 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.

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.

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.