The retail landscape is undergoing a radical transformation, moving beyond simple transactions to the creation of immersive customer experiences. A recent industry session at IntimAsia 2025 highlighted the critical role of design, customer engagement, and innovative strategies in redefining brand-consumer interactions.

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The power of design: More than just decor

The session opened with Speaker _1 introducing the topic of store experience and the role of design in enhancing customer engagement. A key take away from this introduction was the profound impact of store design on customer perception and sales.

Speaker 4, who shared data on Jockey's retail presence, emphasized, Jockey reaches out to around 100,000 outlets, but 56 per cent of the brand’s total general trade business is generated from only 5,733 of these outlets. That’s how profound the good multi-brand outlet clout is. This statistic underscores the importance of strategic outlet selection and design to maximize impact, he added.

Speaker 4 also shared a compelling anecdote about a retailer named Deepak, who prioritized store decor over brand display requirements. He said, my decor is is a proven reason for consumers to walk into my space. If you want to keep your brand here, your brand has to blend into my décor. This illustrates how a well-curated environment can be a significant driver of foot traffic and sales.

The evolution of multi-brand outlets (MBOs)

Speaker 2 discussed strategies brands can adopt to leverage Multi-Brand Outlets (MBOs) as effective distribution channels for profitability. Providing insights into this shift form traditional retail stores to modern MBOs, Speaker_3 emphasized on the need to offer a different customer experience.

Things are moving away from traditional retail stores to the new-age MBOs who are offering customers a completed different experience, he noted.

These new-age MBOs, like Balaji, are transforming from simple stores to experiential retail spaces. They're meeting the demands of modern consumers by offering more than just products.

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Fast fashion and market disruption

Focusing on the disruptive nature of brands like Zudio, Speaker 5 addressed the impact of fast fashion on the retail landscape   Offering fast fashion at a lower price means lower margins, However now, steps in Zudio which disrupts the entire market, Speaker 5 stated.

A hallmark of this trend is the rapid introduction of new styles. Introducing 130,000 patterns per year is unimaginable for an Indian fashion house in a lifetime, let alone in a year, SPK_5 added. This rapid turnover forces traditional retailers to adapt quickly to changing consumer preferences.

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The future: Experience-driven retail

As the retail landscape continues to evolve, the emphasis on customer experience will only intensify. To remain competitive, retailers need to invest in design, technology, and innovation, speakers at the session noted. Understanding consumer behavior and preferences is crucial for driving profitability in this new era, they emphasized.  

The session concluded with a clear message: the transformation of retail is driven by a blend of thoughtful design, strategic outlet selection, and a relentless focus on customer experience. Brands that prioritize these elements are poised to lead the retail revolution, creating lasting connections with consumers worldwide.

(Speakers at this event included Steve Milner, Vice President-Healthcare, Noble Biomaterials; Atul Chitre, Hyosung; Aparna J Walters, Chief Design Officer, Modenik Lifestyle; Swati Sharma, Head Design, Van Heusen Innerwear and Ritesh Sharma, Head-Brand & Retail, RElan)   

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India's retail sector is experiencing a slowdown, with major players significantly curbing new store openings in 2024. This reflects a broader trend of tepid consumer demand, particularly in discretionary categories like apparel and footwear, forcing retailers to prioritize cost management and profits.

Slowdown indicators

Reduced store expansion: An ET Analysis of Investor Presentations of leading retailers like Reliance Retail, Aditya Birla Fashion & Retail (ABFRL), DMart, Trent, Titan, and McDonald's, reveals a drop in new store additions. In 2024, these companies collectively added an average of only three new stores per day, compared to approximately 10 in 2023.  The total store count for these companies increased just 3 per cent to 34,839 outlets in 2024, a significant decrease from the 12 per cent growth observed in 2023.

Muted revenue growth: Company reports and Emkay Research analysis reveals, ABFRL reported 3.3 per cent year-over-year (Y-o-Y) consolidated revenue growth in the December quarter (Q3FY25), lagging behind competitors who achieved high single-digit or double-digit growth. Key segments like Madura and Pantaloons, which make up 72 per cent of ABFRL's consolidated sales, saw flat to -2 per cent growth.

Weak consumer sentiment: Retailers too cite persistently weak consumer sentiment, particularly in cities, as a major factor. Demand has been inconsistent, with spikes during festive and wedding seasons followed by periods of tapering. As per the Retailers Association of India (RAI) sales growth in organized retail segments like apparel, footwear, beauty and QSR slowed to a mid-single digit last calendar year, compared to 15 per cent in 2022.

Financial pressures:  High food inflation, low salary hikes, increased consumer debt, a slowdown in job creation, and rising housing costs are all contributing to the decline in discretionary spending. Moreover rising real estate costs have forced retailers to be more careful with new store leases.

Short to mid-term future outlook

There is cautious optimism among retailers. While retailers acknowledge the current challenges, they express optimism about future growth. Many are focusing on consolidating their existing operations, closing unprofitable stores, and preparing for renewed expansion. ABFRL for example is undergoing a restructuring, including the demerger of its Madura lifestyle business and a focus on its ethnic and direct-to-consumer (D2C) segments. The company's recent capital raise is intended to reduce debt and fuel growth in these areas.

As per Emkay Research retailers are focusing on profits over rapid expansion. The focus is on optimizing store networks, improving margins, and adapting to changing consumer preferences. At ABFRL for example, the focus is on brand re-imaging for Pantaloons, shifting its focus from value to the mid-market segment. This transition may impact growth in the short term.

Also as rental prices are starting to taper, companies are looking for better lease deals, which will help future expansion.

Impact on consumer buying, retail, and store opening

Consumers on the other hand are prioritizing essential goods and services, leading to a decline in spending on discretionary items like apparel, footwear, and accessories. With falling footfalls and profits, retailers are closing underperforming stores to improve profits. This trend is expected to continue in the short term. New store opening has reduced significantly as retailers adopt a more cautious approach to expansion. No wonder Bata India’s focus is on closing unprofitable stores, a clear example of how retail companies are attempting to raise profits during a slow down.

Companies like ABFRL have noted that sales are stronger in the lower price points and rural/Tier-II, III markets, and in the premium segment. This indicates a polarization of consumer spending. In fact, ABFRL's experience with Pantaloons highlights the challenges in the mid-market apparel segment. The company's shift reflects the need for retailers to adapt to evolving consumer preferences and market conditions. The rise of D2C and ethnic wear segments indicates a growing demand for specialized and culturally relevant fashion.

The bottomline is, retail sector's future will depend on the broader economic recovery and the ability of retailers to adapt to changing consumer behavior.

Prime real estate is the key to retail success, opines Nilesh Ved, Owner, Apparel Group and Chairman of AppCorp Holding. Speaking at The Economic Times Great India Retail Summit 2025, Ved said location is just as critical as product selection in the retail industry, particularly in India’s competitive market.

The summit, held in Mumbai, provided a platform for industry leaders to discuss the evolving landscape of Indian retail.

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“Retail success isn’t just about what you sell—it’s about where you sell,” Ved said, underscoring the importance of securing prime locations to drive growth. Apparel Group, which currently operates 2,300 stores across 14 countries, has been aggressively expanding in India. With 14 brands and nearly 290 stores already established in the country, Ved expressed confidence in scaling further. “If the right opportunities come along, we can add 500 more stores in India,” he revealed.

The retail giant is also set to make a strategic move into India’s grocery segment by bringing Carrefour to the country, marking a significant diversification. However, Ved highlighted the biggest challenge remains acquiring quality retail space, especially in India. “Good locations are hard to come by. In the Gulf, we take what we get and make it work, but in India, securing the right space is critical for growth.”

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Consumer Behavior: India vs. Dubai

Ved also drew comparisons between Indian and Dubai retail markets, highlighting key differences in consumer behavior. While Dubai malls serve a mix of residents and international tourists, Indian consumers show more predictable shopping habits. “Consumer preferences vary by city, which helps us tailor offerings more effectively,” he noted. He cited Skechers’ performance as an example, stating that per-sq-foot sales are significantly higher in Dubai Mall than in India’s Time Square.

As consumer expectations evolve, Apparel Group is strengthening its omnichannel presence by integrating online, offline, and marketplace strategies. “Quick commerce has changed consumer expectations in India. While it’s great for essentials, it may not work for fashion. We plan to use it selectively for a limited range of SKUs,” Ved explained.

Apparel Group’s partnership with Nykaa in Dubai is another key strategic move. “We’ve opened two stores, and six more are in the pipeline, along with a dedicated app for the Gulf region. Beauty is a space we’re keen on, and Nykaa’s expertise makes this partnership ideal,” he said.

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Data-driven customer engagement

Loyalty programs are no longer just about physical cards, Ved emphasized. Instead, data-driven insights are the future of customer retention. “Our app helps us track shopping patterns across our 12 million customers, allowing us to personalize experiences and drive repeat engagement.”

As Indian retail undergoes rapid transformation in an increasingly connected world, Ved reinforced the importance of securing prime retail spaces, embracing omnichannel strategies, and leveraging consumer data to stay ahead. “It’s not just about retail—it’s about knowing where the consumer is and how to be there first,” he concluded.

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As consumer behavior rapidly evolves, the retail industry finds itself at a pivotal moment. The shift from unorganized to organized retail is more than just a passing trend - it marks a fundamental change in how businesses operate and engage with their customers.

At the recent session titled, ‘Transforming Retail: Solutions for the Modern Shopping Experience, industry experts agreed, the potential for growth is immense, but so are the challenges that come with this transformation. Eminent speakers at this event included Harinaryan Madhavan, Co-founder and CEO, Underlinen; Raj kumar Jain, Managing Director, Bonjour Socks; Sachin Gupta, Director, Bodycare International and Milind Agarwal, Director, Balaji Hosiery XLU.

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A promising future

The retail sector is poised for significant expansion, with a projected compound annual growth rate (CAGR) of approximately 8 per cent by 2031. By then, the market is expected to be nearly 2.5 times larger than pre-COVID levels. This optimistic outlook is driven by the increasing participation of rural consumers in mainstream shopping and the rapid rise of online retail.

As Speaker 2 notes, possibilities for companies that create the right products with the right capabilities. are immense. With rural people coming into the mainstream of buying, the sudden volume growth is exponentially possible.

Echoeing this sentiment, Speaker 1 stated, the industry benefits from a hastening change from the unorganized to the organized. Better days are ahead, and it is a very promising sector to be in.

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Navigating complexity

Despite the positive outlook, this growth does not come without challenges. The retail landscape has become increasingly complex, with multiple channels such as traditional trade, modern trade, and e-commerce.

The rise of social media has further complicated matters, as consumers today are more informed and discerning than ever. Acknowledging this, Speaker 1 said, though the industry is growing rapidly, it faces certain challenges. Operating multiple channels makes the industry more complex. Consumers’ rising awareness also poses different kinds of challenges, he adds.

Embracing technology and collaboration

To thrive in this dynamic environment, retailers need to harness the power of technology, emphasized Speaker 1.  He added, the integration of artificial intelligence (AI), advanced enterprise resource planning (ERP) systems, and strategic collaborations with industry partners are keys to staying ahead.

There are a lot of opportunities available. Consumers need to be quite agile using technology, whether it is AI or ERP systems, or collaborations with different industry players,

Collaboration is essential—not just in technology, but also in product development and

customer experience. No single company can excel in every aspect of retail, making partnerships critical for innovation and growth, he added further.

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The role of design in retail

Though design plays a crucial role in shaping the retail experience, consumers’ expectations vary significantly across different regions, making tailored design interventions essential for engaging shopping experiences. Highlighting this, speaker 3, a design expert, said, taking into account the consumers’ interfaces or market expectations from a retail design perspective, his company performs design intervention required in every space or location.

By focusing on localized design, retailers can enhance customers’ satisfaction and foster brand loyalty. Understanding regional differences ensures that stores resonate with their target audiences, creating immersive and enjoyable shopping environments.

As the retail industry continues to evolve, the path forward is clear: embrace change, leverage technology, and prioritize collaboration. While challenges exist, those who can navigate this complex landscape will not only survive but thrive in the modern shopping era.

The future of retail is bright, and with the right strategies in place, businesses can look forward to a prosperous journey ahead.

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The 20^th edition of the Retail Leadership Summit (RLS) concluded with a stunning fashion showcase by Myntra’s Runway Icons. Titled, ‘Echoes of the Elements,’ the showcase presented an ethereal display inspired by the raw beauty of nature.

Hosted by the Retailers Association of India (RAI), India’s premier two-day retail event, RLS was held at the Bombay Exhibition Center on February 27-28, 2025. The event united industry leaders, innovators, and visionaries to shape the future of retail in the country.

Inspired by nature’s vibrant color palette, the Echoes of the Elements’ showcase featured earthy ochres, deep blues, fiery crimsons, ethereal ivories, and celestial golds shades with each of these paying a tribute to the five elements of nature and conveying a story of balance, power, and grace.

The show featured a curated ensemble from House of Pataudi, Koskii, Ambraee, Kisah, and Scakhi, each contributing to a collective vision of elegance, heritage, and modernity. The designs showcased a striking blend of intricate embroidery, structured silhouettes, and handcrafted embellishments, redefining occasion wear with a contemporary flair.

Siddhart Arya, Director- Design, Myntra, states, with Echoes of the Elements, Myntra aimed to create a narrative that transcends fashion, reflecting nature’s grandeur through exquisite artistry. A poetic fusion of traditional craftsmanship and modern expression, each piece of this collection is rooted in heritage while resonating with today’s evolving consumer tastes. Collaborating with RAI enabled the company to highlight Indian fashion as it remains committed to making ethnic wear timeless yet trend-forward.

Dr. Hitesh Bhatt, Director, Marketing and Communication, RAI, and Editorial Director STOrai, Retailers Association of India (RAI), adds, the Retail Leadership Summit serves as a vital platform for shaping the future of retail, fostering dialogue, innovation, and industry collaboration. The show was a testament to India’s rich cultural legacy, demonstrating how traditional craftsmanship evolves and remains relevant in today’s dynamic fashion scene.

The show culminated in a breathtaking tribute to Aether, the celestial force binding the universe. The ensembles, ornate lehengas, and regal sherwanis, were designed to embody a dreamlike aura, with opulent zari, gold Lurex, and tonal embroideries bringing the cosmos to life. This finale was a visual spectacle blending cultural depth with modern luxury.

With over 600,000 styles from 4,000+ brands, Myntra continues to make ethnic wear accessible, diverse, and relevant for the modern consumer. Runway Icons, a dedicated proposition for homegrown ethnic fashion, offers nearly 60,000 premium ethnic wear styles from 180+ brands, providing customers across 19,000 pin codes in India with access to trending occasion wear from Made-in-India brands and labels.