JIMS Rohini organized a Webinar on “Indian Retail: Trends and Opportunities 2021 and Beyond” on 29th July, 2021 for PGDM-Retail Management students batch (2021-23). The Resource person was Mr. Rajesh Jain, COO, Himadri Hans Handlooms.
To enlighten students about the ever changing world of fashion, Mr Rajesh Jain presented a very informative session wherein he elucidated how the trends and perspective shifts has influenced the industry of fashion.
“The greatest danger in times of turbulence is not the turbulence – it is to act with yesterday’s logic.”
– Peter Drucker
The present generation (which is also referred to as the YOLO generation) has become mindful in purchasing and consuming items while being aware of the social concerns surrounding them.
As a direct impact, the retail scenario, too, has undergone a major change. Mr. Rajesh further explained how the retail businesses today are including more Omni-channels approach to their sales. With the recurring lockdowns and COVID waves, more and more people are forced to stay indoors and spend a larger part of their days on phones or laptops. Grabbing this opportunity and concentrating more on digital media marketing has been a key strategy for businesses now. Not only is it more effective than newspaper or magazines advertising, but it also gives more insight to the manager as to how many people actually clicked on the advertisement. As the lockdowns are being perpetually extended with little to no relief to business owners and their electricity or rental expenses, stores are now being converted into fulfilment centres. Towards the end, he gave an example of his company Himadri Hans Handloom and how, keeping in mind the ever growing environmentally dangerous fast fashion, his company focuses on organic clothing, which is his identifying USP. Thus, an entrepreneur must always adapt to the ever changing times and be quick and innovative in his/her approach to be an industry leader.
The session ended by thanking him for his benevolent presence.