While experience and innovation are often seen as separate concepts in the business world, combining them can lead to tremendous growth and success for companies. As the retail industry continues to evolve, the ability to adapt and innovate is becoming increasingly important. But how can businesses balance the need for innovation with the benefits of experience and established practices?
Let us provide you with an insightful discussion on the topic through PRA’s Let’s Talk Retail 34th episode, which features Neelam Gopwani, the Managing Director of House of Branded Lifestyle, Inc. (HOBLI). In this episode, we delve into the ways that businesses can harness the power of experience and innovation to achieve success and drive growth in the dynamic retail landscape.
Also, Neelam shared her insights on the post-pandemic retail landscape, highlighting the need for businesses to adjust and adapt to the new reality.
According to Neelam, the pandemic has blurred the lines between online and offline retail, creating a new business model where both channels are intertwined. As businesses continue to navigate the challenges of the post-pandemic era, it is crucial to embrace digital transformation as a key driver of success.
When asked if online will replace the brick and mortar stores, she said “online will not replace the brick and mortar. When it comes to the culture of the Philippines, it’s not a shopping experience… you don’t go just to buy a certain thing, you are in the mall to experience a lot of things – whether it is a movie or dining out. That shopping experience is very important, you just need to make a way to merge the both of them, to make it one business model instead of two.”
On the other hand, to learn about Neelam’s insights on using influencers to reach your market and achieve sustainability goals, check out the PRA’s Let’s Talk Retail 34th episode on their YouTube channel and Spotify account. By tuning in, you can gain valuable knowledge on how to effectively adjust and adapt to thrive in the constantly evolving retail landscape.