Trade Talk Today EuroShop Day 3

00:00:03: Welcome to Trade Talk Today, your daily inside.

00:00:09: This show is brought you by... The Global Retail Festival is on full four zero shop.

00:00:25: Two thousand and twenty six is on here in Düsseldorf, And I hope you are having a good time.

00:00:30: We're having great time Here In the studios of trade talk today and i welcome You all and wish you A Good Day!

00:00:36: I also Wish our first guest On the show a wonderful day.

00:00:39: mini contractor who Are managing director Of Mesa Düsseldov India.

00:00:43: it Is Wonderful to have you hear Today so we get some perspective What is happening?

00:00:47: In terms of retail in india right now.

00:00:49: i hope he doing well.

00:00:50: I mean, very well.

00:00:51: Thank you Emily for having me here!

00:00:52: Yeah it's great to have you here.

00:00:53: we're going get warmed up a little bit and talk about some things that you have just spontaneously answered.

00:01:00: let see how this goes.

00:01:02: yeah starting with street market vibes or luxury male atmosphere mall atmosphere?

00:01:08: We took both one Street

00:01:10: more.

00:01:10: Okay, I love that too.

00:01:12: Heels or trainers at Europe?

00:01:13: Trainers of course!

00:01:15: Of course...I'm

00:01:16: so short and always like to wear really high heels but i don't have to walk around as much if you do a big launch event or soft opening

00:01:24: A Big Launch Event

00:01:25: And why is That?

00:01:26: Well it sets the mood because the tone It sets the hype also.

00:01:30: So yes

00:01:31: Startup Energy Or Established Powerhouse.

00:01:35: well startups..i would say You know, they do a bit more.

00:01:39: They get the on the edge.

00:01:41: it's always more interesting to have a startup idea More than a free-fledged company

00:01:47: shopping festival or quiet browsing

00:01:50: Shopping Festival.

00:01:51: okay Instagram inspiration or word of mouth

00:01:54: Instagram.

00:01:55: Oh, yeah Fast expansion or steady growth.

00:02:00: Steady growth that would say

00:02:01: at local design our international look

00:02:04: Local Design

00:02:06: early bird meetings or late networking dinners, and one word to describe retail in India.

00:02:13: While it's booming the market is upscaled.

00:02:19: That was more than one word, but I'll step it up.

00:02:22: Thank you so much for that.

00:02:23: let's get into the nitty gritty of the questions we have to ask them and i want to ask because It is such a fast-growing industry in India.

00:02:31: regarding retail markets globally what do You think fueling growth right now?

00:02:37: There are three factors that are fueling the growth Right Now.

00:02:40: first is demographics.

00:02:41: In india the median age is twenty eight years which means there is a very young earning aspirational consumer base.

00:02:49: The private consumption is sixty percent of the GDP, second is retail expansion.

00:02:55: There's prediction by JLL that forty-five million square feet space will be added in India next five years.

00:03:01: That means demand for lighting fixtures fit out to increase.

00:03:05: and thirdly direct-to-consume acceleration.

00:03:08: India booming A lot from physical stores are going online accelerates the growth of retail in India.

00:03:16: And it also changes everything as well?

00:03:18: Yes, yes!

00:03:19: Is India a mobile first demographic?

00:03:24: Would you say that way and how radically has the digital behavior changed the way Indians shop and maybe actually how the world shops would put that into perspective?

00:03:33: Well completely

00:03:34: I would say India is totally mobile-first.

00:03:37: we have nearly eight hundred million people using the internet and smartphone is the primary device.

00:03:43: You have apps like Amazon, Flipkart which are normalized app-based buying.

00:03:48: people are buying online.

00:03:49: they're comparing prices on line.

00:03:52: your payments are frictionless through UPI yeah.

00:03:56: so I think this phase of going online from offline it's totally welcome.

00:04:01: both are sustaining at same time.

00:04:04: nothing is replacing but we need to be together

00:04:06: Absolutely and I think that's not an easy task to master.

00:04:09: Yes,

00:04:10: it is highly because of the influences led mainstream commerce these days.

00:04:14: you know they are one phase in India following very rigidly.

00:04:18: Instagram is king right now.

00:04:22: Organized retail is extending rapidly but traditional Karana stores remain strong.

00:04:26: so competition or is it a co-existence?

00:04:30: What would you say

00:04:31: I would say coexistence completely.

00:04:33: Well, the Kirana stores mainly are hybrid stores all hypermarkets and these have been in India for decades on their nearly about twelve to thirteen million stores.

00:04:44: And they run in India because of firstly They're close by there very close to come where the consumers are staying.

00:04:50: Secondly, Thirdly, they have great relationship.

00:04:54: That means people can buy stuff and pay later on.

00:04:57: that facility is there.

00:04:59: This is the main reason.

00:05:00: you also have big players like reliance retail And demand that are scaling rapidly.

00:05:05: what hypermarkets are doing or Kirana stores?

00:05:08: Are doing their hybridizing credit or hybridising to market.

00:05:11: that means People are going more into Buy online and that is a sustainable growth industry.

00:05:17: so online offline co-create and core extremely in India.

00:05:21: yeah

00:05:22: India is incredibly diverse.

00:05:24: You just said the demographics.

00:05:26: regarding on twenty eight year olds and but I mean as a fifty-year old, I think I shopped differently But maybe I don't actually.

00:05:31: yes How does that change?

00:05:33: The perspective?

00:05:34: And how does how do you think they import this localization versus standardization for retail success?

00:05:39: Regarding demographics or we're guarding, you know where things are

00:05:43: Completely again India is not one market now it is multiple its cultural It's diverse.

00:05:49: We have climatic differences And because of that, the store people or rather the retail people have to adapt and they need a lot support.

00:05:58: back end with terms of lighting.

00:06:00: With terms of fixtures keeping climate in mind as well.

00:06:04: That's where European fit outs come into play Because they localize things for the local retailer.

00:06:11: So again co-create codependent?

00:06:13: This is a question I don't know you might but it has someone from India areas to adhere to.

00:06:21: looking at Europe that's so much smaller, but there of course are all different.

00:06:24: Yes look good as well.

00:06:25: But do you think sometimes ah this it's so easy to work with Europe compared?

00:06:28: To us because we have so much more to worry about?

00:06:31: Well either I think the complexity is at both places.

00:06:34: India a little bit more Because logistic wise we're not very best, but yeah We adapting we are getting their slowly and they were lot to learn an improve

00:06:43: from.

00:06:44: So let's look ahead.

00:06:45: in the next five years What do you thing will be the biggest change?

00:06:47: or what define this new time we're in.

00:06:52: The next five years definitely will be smarter stores, you'll have more smart shelving and analytics.

00:06:57: the store's not just a store to sell into but an experience get-into.

00:07:02: I think that is going.

00:07:08: Create the balance, you know make most of it.

00:07:11: Yeah

00:07:11: Thank You so much for being here today.

00:07:13: I wish you a wonderful year in shop to this and twenty six And really looking forward to hearing or seeing what happens into terms of retail In the next years at India because i think we have A lot not only look At but also learn from From The Indian market.

00:07:26: So thank you so much.

00:07:26: Thank

00:07:27: you very much for having me.

00:07:27: Thankyou so

00:07:28: much and We are going To be Seeing new guests on the show in just a few minutes.

00:07:34: So Fraser Neil's chief sales officer at custom-made is gonna Be Here.

00:07:38: Before that, we're going to take a look at some things happening in the hall.

00:07:42: So...take.

00:08:37: As you can see, there is so much going on in the halls at EuroSupp!

00:08:43: So many new innovations and it's gonna be a lot of fun with our next guest.

00:08:49: His name is Frazier Neal Chief Sales Officer at Customate and I'm really happy to have him here.

00:08:54: I'm gonna tell you to your face again, and really happy to have you here.

00:08:57: Thank you so much for being here!

00:08:58: I hope we're doing well.

00:08:59: I am thank-you very much.

00:09:00: How's the first couple of days at Euroshop been?

00:09:01: It has been

00:09:02: frantic which is good.

00:09:03: We've had lots of visitors by our booths Which were really enjoying doing perfect.

00:09:07: So i think are going get warmed up as Well with some quick fire questions.

00:09:10: They're Really difficult to answer so You're Gonna Have To Concentrate.

00:09:13: all right.

00:09:14: First One Is Online Shopping or in Store shopping

00:09:17: and store shopping.

00:09:18: okay

00:09:19: self Checkout Or Assisted Check out Self

00:09:22: Check Out?

00:09:23: oh really Okay.

00:09:24: Coffee or tea?

00:09:25: Definitely coffee.

00:09:27: Planning, or spontaneous decisions?

00:09:30: That's a tough one!

00:09:32: I like things to be planned but i do enjoy our spontaneous decision every now and again.

00:09:36: So it is good mixture that makes it work well.

00:09:39: okay Book or e-reader?

00:09:41: Book

00:09:43: Data driven decisions are gut feeling.

00:09:47: So yeah, that has another tough one.

00:09:50: I would go with data-driven decisions.

00:09:52: Okay

00:09:52: Maybe it's always a mixture of everything and then you know Yeah It is.

00:09:55: i think there are some times You have to trust your gut but if he can back up with the data than all the better.

00:10:00: Absolutely.

00:10:01: busy flag ship shore Busy flagship store or small neighborhood?

00:10:06: Store what would you say busy

00:10:08: flagship

00:10:09: speed Or experience?

00:10:11: oh right so I enjoy doing things fast, but you want to remember the experience that you've had.

00:10:19: so... You need try and find a way.

00:10:21: balance both.

00:10:21: Absolutely!

00:10:22: Hardware innovation or software intelligence?

00:10:27: Software intelligent….

00:10:28: I knew your gonna say it!

00:10:29: And one word to describe future of retail.. I'm kinda putting on this spot here But maybe some may think this is what i wanna say.

00:10:38: Revolutionary.

00:10:39: Oh very good

00:10:39: It's going.

00:10:40: continue change

00:10:41: Wonderful.

00:10:42: OK, we are now getting to the questions of the nitty-gritty ones that are really important especially regarding Customate and the A to Z. Customate is best known for its smart cart solutions that transform the in store shopping experience And um...for our EuroShop audience who might not know what it means What exactly does it do?

00:11:01: Okay so

00:11:01: Customate effectively has Smart Carts.

00:11:05: We believe that RIA powered Smart Cards connect the retailers the brands and shoppers.

00:11:12: Retailers first have a way to unlock new monetisable retail media, they can influence or understand more about their store journey.

00:11:22: for the brand's they're able to interact with customers at most influential point when in the aisle ready make your decision.

00:11:29: For the shopper there will be frictionless experience from start-to finish a personalised experience through the retail media advertising and hopefully, much more enjoyable experience long-term in shopping.

00:11:42: So

00:11:42: maybe we can come back to questions of quick or experience.

00:11:46: so you have something that works well quickly but it's good experience when you bring out your own product?

00:11:51: Absolutely

00:11:51: yeah!

00:11:52: And then retail is really important because customers want to interact with their customer as best possible.

00:11:58: they want things optimized for themselves And if you could influence that journey, then all the better and hopefully our smart carts are doing it for customers.

00:12:09: So seamless and frictionless shopping is a major theme at EuroShop?

00:12:13: How do custom-made Smart Carts help retailers improve customer convenience while also increasing operational efficiency which is really important of course?

00:12:22: Yeah

00:12:23: I think retailers often feel they have to make choice between optimized for themselves an experience for their customer... ...and i don't actually believe that's right.

00:12:33: Think of it all, I think with a smart cart you can give the customer The best experience possible.

00:12:39: You make it frictionless self-checkout on the cart itself and influence their journey All at same time optimising what your doing in stores.

00:12:47: So from the retailer's perspective they Can reduce requirement for checkout lanes.

00:12:53: They can monetise the retail media aspect so that they can drive revenue and deliver a better ROI.

00:13:03: And at the same time they're creating space in the store where check-outs used to be for more retail selling space, as I said from customer experience their getting this frictionless point.

00:13:13: when entering the store accessing your cart you can start joining queues.

00:13:18: if there is queue butchery or the bakery, they can do that on a car.

00:13:22: They have all their couponing there and it can be influenced into new purchasing auctions as well And like I said is self-checkout auction at end of the car itself.

00:13:32: So let's say in the topic of profitability What major or measurable benefits you see regarding basket sized well time labour efficiency?

00:13:41: There are lots of data out here about how the basket size increases.

00:13:44: It absolutely does.

00:13:47: That happens for a couple of reasons.

00:13:48: When customers come to store, they often come with budget in mind without the ability see what their spending.

00:13:56: through their own memories They're trying to work it.

00:13:57: okay I've spent this amount and that's about With the cart.

00:14:01: you can see exactly what your spendings.

00:14:02: so The basket spend is going up one because people are spending two there budgets more often if our budget conscious customer.

00:14:09: And but then you also influencing what we're choosing So push deals towards customers that they may not have seen to make sure their buying the right products.

00:14:20: if there on a buy one, get one or if theres a fifty percent off whatever.

00:14:24: But also If a customer can't find the product you're looking for You could influence your choice as replacement.

00:14:30: so if your favourite shampoo is not available at this point in time but you are desperately needing the shampoo.

00:14:35: then you can influence which product the customer buys as a replacement.

00:14:39: I think i need a cart like that too because, and don't tend to spend not enough.

00:14:43: Always spent much too much.

00:14:44: so maybe it would be good for me but that wouldn't be as good with the store.

00:14:47: if people start spending less?

00:14:48: Because they're not just going to go and spend whatever.

00:14:51: yeah...I don't think generally happens.

00:14:53: we dont see any indication of what's happening.

00:14:56: um..i think its more for budget conscious customers who are really keen on tracking exactly their spending.

00:15:02: They work within fixed income or amount in which they can spend each day and then it's important for them that they can see.

00:15:10: As I said, the basket spend obviously goes up.

00:15:12: there is also operational benefits that retailer gets in terms of cost savings or being able to apportion their staff into other areas of store to also enhance customer experience?

00:15:24: I imagine you have a store owner who has been around the thirty years and says, I don't really know if i can integrate this into my store.

00:15:32: How easy is it?

00:15:34: What can you tell retailers who think ah...I don't know about this.

00:15:37: Yeah so we have a turnkey integration method.

00:15:41: We integrate directly to the retailer's POS systems.

00:15:44: We integrate to loyalty cards If they're already using loyalty card system.

00:15:50: But actually more importantly from customer perspective we retrofit the carts that they're used to using every day of the week anyway.

00:15:56: So if you think about integration for customers, it's seamless.

00:16:01: They walk into store.

00:16:02: We are not asking them do anything dramatic.

00:16:05: We scan bar codes There is security within this scale to ensure everything scanned in the cart and also there has nothing being placed on a car That shouldn't be.

00:16:15: And at same time so their customer experiencing this Seamless way of transitioning from Traditional shopping as we know it today to the new world shopping that will see tomorrow

00:16:27: and It all sounds very, very easy.

00:16:29: And I think it is actually.

00:16:31: i do want To ask you one personal question Is your job always easy?

00:16:33: Do have a way to kind of make yourself feel A bit more i don't know energized or happy Or just

00:16:39: yeah?

00:16:40: so um i Actually brought something from home about this because i like to carry with me.

00:16:44: So when things get tough sometimes You Just need a little smile on Your face and Something.

00:16:49: so i Have uh a couple Of pictures at home.

00:16:52: And this one here is very simple.

00:16:54: It reads, the best thing about my job Is that my chair spins So sometimes you just need a little bit of light in your day.

00:17:01: That puts a smile on your face Absolutely

00:17:03: and I'm sure to put lots of smiles on people's faces Here at The EuroShop with team talking About your innovations.

00:17:08: it great To have you hear on show.

00:17:09: Thankyou so much for joining us today.

00:17:11: All the best For next couple days.

00:17:13: We look forward to all the innovations You're going be coming up within Next year.

00:17:16: we Look forward to the chairs spinning and being At stand All of you, of course at the EuroShop.

00:17:25: We wish you a wonderful time in the next couple days!

00:17:27: It is a festival.

00:17:28: there's so much going on not only wonderful exhibitors from all over the world but also wonderful presentations and lots of talking going on.

00:17:37: So have a good time, all the best.

00:17:39: This was TradeHawk today.

00:17:40: for Today Take care And see you

00:17:46: soon.