EVENTS
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Masterclass
THURSday, JuLY 02, 2020 | 6pm to 7pm IST
Masterclass 07 | New normal in retailing - It is still about shopping stupid!
Prof. Nitin Sanghavi | Distinguished Visiting Faculty, FLAME University;
Professor, Manchester Business School, UK
Retail executives all over India are currently busy focusing on navigating the crisis mode for their businesses, thinking long and hard about the recovery mode and developing/implementing appropriate action plan to jump start the business. Even before India was hit by a corona virus outbreak, retail industry was going through a ‘rough patch’ due to weak consumer demand, rising input and other costs leading to tighter profitability. But now the outlook for the retail industry is looking much bleaker with significant short, medium and long term impact on sales, margins, returns and market share. For Indian retail industry, according to various forecasts, the contraction could be between 20 and 60% in 2020 and positive growth of between 4 and 10% in 2021 (compared to the baseline of 2019). For many, their planned strategies for the remainder of 2020 will become redundant. For a few, it will be a fight for survival. For others, including those who are part of a large conglomerate, many will ‘wade through’ this crisis but will be left severely battered and bruised.
One thing is clear. Future is not what it used to be. From now on, ‘changes will be constant’. The impact of these changes will be across the entire value chain as well as the whole of the retail eco-system cascading on following nine key areas (9’C’s): Consumers ; Competition; Cash; Costs; Continuity; Company; CSR; Channel/ communication mode changes; Corporate valuation
Welcome to the new world of retail!
Speaker Profile
Prof. Nitin Sanghavi | Distinguished Visiting Faculty, FLAME University;
Professor, Manchester Business School, UK
Nitin Sanghavi is Professor of Retail Marketing and Strategy at Manchester Business School (MBS), UK. Nitin joined MBS in 1985, after spending several years holding senior positions in buying, merchandising, operations and commercial areas for a number major retail and retail-related organisations in the UK and overseas. He has since taught on and directed a range of executive education programmes for retail, retail-related, financial services, various B-2-B and B-2-C organisations including FMCG organisations, as well as teaching on Full-time and Executive MBA programmes. Nitin has also held / currently holds a number of visiting appointments at universities around the world, including, Professor of Retailing at Kobe University (Japan); Visiting Fellow at Monash University (Australia); Visiting Professor at University of Texas (USA) , Visiting Speaker at both University of Georgia (USA) and University of St Gallen (Switzerland), Visiting Professor at University of Rennés (France), Visiting Scholar/Professor at Harvard Business School (USA) , Visiting Professor at ESADE (Spain),Visiting Professor at SDA Bocconi (Italy), Distinguished Visiting Professor of Retail Management at Great Lakes Institute of Management (India), Visiting Professor at Indian Institute of Management at Ahmedabad (IIMA) (India), Distinguished Visiting Professor at Flame University, India.
Nitin, ranked as one of the world’s top retail professors and a foremost expert on retail franchising, has published over 110 academic and other articles, conference papers chapters, books, case-studies on retail strategy, franchising, internationalisation, international marketing , consumer marketing and impact of social media especially on branding and is a frequent speaker at several national and international conferences. He is/has been elected Life Fellow of the Royal Society of Arts, Commerce and Manufacturing, a member of the International Society of Franchising and American Collegiate Retail Association, special advisor to the British Council and Commonwealth Secretariat, and special advisor on retailing to the World Bank. Nitin also acts as a non-executive director for several retail and retail-related organisations in Europe and India (including both the largest department store and one of the leading Hypermarket chains in India), is strategy advisor to the boards of several blue-chip retail and service organisations in Europe and India, and was the founder and director of the MBS Retail Centre –one of the largest provider of retail executive education in the world, operating across five continents and in more than 40 countries. He was Associated Editor of The Journal of Global Business and Economic Development and is member of the Editorial Boards of The Great Lakes Herald (Yale -Great Lakes initiative) and International Journal of Consumer & Business Analytics (Kotler-SRC initiative). He has been appointed Senior Editor of International Journal of Emerging Markets, published by Emerald Publishing with a high impact factor.
Nitin was given the Retail Leadership Award and an award for Retail Excellence by the Asia Retail Congress in 2008 and 2009 and now sits on the Council of the Asia Retail Congress. He was presented in 2010 with the “Glory of India Award” by Indo-British Society for his outstanding contribution in relation to knowledge creation and knowledge dissemination to both countries. He was given the “Bharat Gaurav” Award in 2015 for outstanding contribution in his specialised field and glorifying India.