At the Knowledge Seminar at Goafest 2024, presented by Google in collaboration with the ISA and themed "Evolving Market Landscape: Navigating The New Normal," a panel of distinguished figures convened. Among them were Sunil Kataria, Chief Executive Officer of Raymond Lifestyle (India & International) and Shashank Srivastava, a Member of the Executive Committee at Maruti Suzuki. The discussion, moderated by Anuradha SenGupta, founder of @anuradhasays, highlighted the complexities of the evolving market amidst unprecedented change, driven by digitisation.
Shashank emphasised the necessity for agility in comprehending consumer behaviour. "We have to be on our toes to keep up with the constant changes in consumer behaviour," he stressed. He also emphasised the importance of gathering interactional data from all touchpoints and integrating it.
Adding to this, Sunil highlighted the diverse ways consumers engage with different platforms. "Listening analytically to data is very important," he observed, adding that in-store observations are also crucial. He emphasised the value of utilising first-party data to swiftly and effectively gain insights.
The conversation underscored the critical role of comprehensive data analysis in adapting to evolving consumer preferences. With their expertise, the panelists explored strategies for navigating the 'new normal,' shedding light on the shifting dynamics of consumer preferences and market trends. Attendees gained insights into the opportunities presented by evolving consumer behaviour across various touchpoints, particularly data, to inform their strategies in a rapidly transforming landscape.
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