Bhubaneswar, Sept 25: The retail enterprise sector has to deal with the drastic change of the digital period. The retail sector has to alter its phenomenon together with the technology-driven youths, who share a giant market place and businessmen ought to comply with Retail 4.0, mentioned Manu Seth, Founder, and CEO of Speaking Mindz Inc.

He was addressing the Retail Icon Award ceremony – 2023 as Chief Speaker in Bhubaneswar, hosted by Summa Real Media Pvt. Ltd.

(The time period ‘Retail 4.0’ refers back to the newest digital transformation and know-how being applied and adopted in enterprise retail.)

“Retail businessmen know the sentiment of local customers. They can track customer performances and purchase history in order to provide tailored promotions and discounts according to their preferences,” added Seth.

Saswati Das, Vice-President of Siksha ‘O’ Anusandhan (SOA) University and Director of Summa Real Media Pvt. Ltd.,  gracing the event as Chief Guest mentioned, “With the altering mindset of youths, the usage of know-how within the retail sector helps businessmen to cater to their goal clients in accordance with their wants.”  There is a need to use technology vividly in the retail sector according to customer sentiment, she added. 

The use of Artificial Intelligence (AI) and Data Analysis in the business sector has been on the rise as technology is working as a facilitator. The retail sector is also using technology that is the need of the hour for the growth of any business, said Police Commissioner Saumendra Priyadarshi attending the event as a Special Guest.

The retail sector businessmen have a greater contribution towards the development of society. It is a small initiative by us to honour the contribution of the retail sector to the economic development of the nation, said Summa Real Media Group Editor Gopal Krishna Mohapatra.

Among others, Sunil Das, CEO of Summa Real Media Pvt. Ltd., and Prameya News7 Group Director (Sales & Marketing) Himanshu Hota opined on the altering retail sector and its future.