UST Global hosted its second annual Retail Razzmatazz with a week of concurrent events at its Trivandrum and Chennai centers in India. The event highlights UST’s strong expertise in the retail domain and brings some of the company’s leading retail industry clients together with their UST support teams. Retail Razzmatazz serves as a forum to share
industry experiences and build the thought leadership needed to succeed, grow, and retain customers. Arun Narayanan, COO, UST Global, said “UST’s Retail Week provides a robust platform for discussion and learning, on both strategic and tactical levels.”
This year’s theme was customer loyalty, and the event presented a comprehensive view of the 2010 consumer who shops, spends, and thinks differently than in the past. Retail Razzmatazz gave participants hard facts, inspiration and insights into how these changing customers can be reached through social networking channels by retailers who can continue to understand them, to connect, and to better tailor their offerings.
The event included a number of special speakers, such as Marsha Blakeslee, GM, Industry Practices, UST Global. She talked about opportunities for social media to enhance customer loyalty in retail and the opportunities for IT players like UST in emerging markets such as India. Harish Bijoor, brand expert and CEO, Harish Bijoor Consults Inc, Bangalore, spoke on the death of customer loyalty and introduced the concept of Cluster Loyalty. Arun Gupta, Group CIO, Shoppers Stop, spoke on customers and IT, saying that “IT should demystify itself and become more ubiquitous to make its presence felt for the customer. It should seep unassumingly into the daily lives of people so as to create its longevity.”
A panel discussion was held on how customer loyalty can be enhanced, influenced, and redefined by social media. Harish Bijoor, who also served on the panel, said, “Social sites are the future, since marketing has become very democratized. Therefore you have social sites becoming engines of information—decision-making sites where one gets to know about what to shop for, where to shop, and how to shop.” Fellow panelist Arun Gupta cited social networking sites as tool for reputation management, saying, “Through various social media, corporations can establish, protect, sustain and build their identity.” Other key speakers are K. Radhakrishnan, CEO, Hypermarkets, Reliance. Events at Retail Razzmatazz also included whitepaper presentations, an innovative product development contest, and the exchange of best practices.