Bangladesh Retail Congress 2024 has called for innovation to address the transformative changes being driven by technological advancements, evolving consumer preferences, and the increasing emphasis on sustainability.
“Retail Renaissance: Inspiring Innovation” was the theme of the seventh annual gathering of the country’s big retail companies, organised by the Bangladesh Retail Forum at a city hotel today.
“In today’s market, retailers must adapt to the trends like the rise of e-commerce, personalised customer experiences, and the demand for sustainability, ” said Bangladesh Retail Forum Founder Shariful Islam.
“Innovation and agility are essential to staying competitive, as businesses balance digital transformation with traditional in-store experiences. Those who embrace change and focus on evolving consumer needs will thrive in this rapidly transforming retail era,” he added.
“Emerging markets, like Bangladesh, are presenting significant opportunities, particularly with the country’s growing economy and the rise of a stronger consumer class,” MHM Fairoz, managing director (MD) and CEO of Singer Bangladesh, said in his keynote.
Sabbir Hasan Nasir, MD of the country’s largest supermarket chain Shwapno, said, “Modern retail is now more about societal impact and influence rather than just financial equity. The contemporary trading system benefits a wide range of stakeholders, including the government, farmers, communities, and consumers.”
The government should support the growth of modern retail, he said, adding that retailers should adapt to eco-friendly initiatives like eliminating plastic bags.
The panel discussions by retail professionals, experts highlighted the importance of understanding both consumer usage and product attributes alongside factors like product display, educating customers, omnichannel retailing, leveraging technology and coming up with innovative concepts to attract and satisfy customers.
In a leaders’ dialogue session, titled “Future-proofing Retail: Strategies for Resilience in a Changing Market,” moderated by BRAC University Vice Chancellor Professor Syed Ferhat Anwar, was participated by Dhaka University Institute of Business Administration Professor Mohammad Abdul Momen, PRAN-RFL Group Chairman and CEO Ahsan Khan Chowdhury.
The first panel discussion titled “The Role of Experience-Driven Retail: Creating Memorable, Multi-sensory Shopping,” moderated by RTS Enterprise Founder Zeeshan Kingshuk Huq, got panel discussants including Grameen Danone Foods Sales and Marketing Director Surayya Siddiqua, AkijBashir Group Head of Marketing Shahriar Zaman, Unilever Bangladesh Emerging Business Lead Zakeea Nowrin Husain, Domino’s Pizza Bangladesh Country Head of Marketing Abu Obaida Imon.
The second panel discussion, titled, “The Omnichannel Imperative: Integrating Digital and Physical Retail for a Seamless Customer Journey” moderated by Asia Marketing Federation General Secretary Ashraf Bin Taj, had Bengal Meat Processing Industries CEO Ahmad Ferdous Md Asif, Sailor Chief Operating Officer Rezaul Kabir, Remark HB Director for Home and Personal Care Sami Ashraf, Transcom Group Head of Strategy and Transformation Zaraif Hossain as panellists.
