Advertisement
The Retailers Association of India (RAI) convened the first Visakhapatnam Retail Summit at Novotel to highlight Andhra Pradesh's fast-evolving retail sector. The event gathered top industry leaders and brands such as Neeru's, CMR, Kankatala, and BigBasket to discuss profitability beyond metro markets, tech integration, and customer shifts in Tier-2 and Tier-3 cities. Speakers explored how Andhra's pro-business policies and rising consumer aspirations are transforming Visakhapatnam into a strategic retail hub. Key themes included localisation, digital access, and the balance between tradition and modernisation.
The Retailers Association of India (RAI) hosted its inaugural Visakhapatnam Retail Summit (VRS) at Novotel, drawing participation from leading retail voices across Andhra Pradesh. Designed to explore regional retail innovation and expansion beyond metro cities, the summit featured key discussions centred around technology, consumer trends, and the policy landscape influencing retail growth in the state. Advertisement
During the welcome address, Kumar Rajagopalan, CEO of RAI, stated that retail remains a major contributor to India's GDP and plays a critical role in employment generation. He remarked that momentum is building in Tier-2 and Tier-3 cities, which are now central to India's next phase of retail expansion. He noted Andhra Pradesh's emergence as a favourable destination for retail, attributing this growth to infrastructure development, new malls, and a policy environment that encourages business growth. He also acknowledged the role of the state government in ensuring ease of doing business and positioning retail as a catalyst for both economic and societal progress.
The summit's sessions included themes such as 'Retailing in Andhra - Profitability Beyond the Metro' and 'The Smart Store Revolution.' Business leaders representing firms like Neeru's, BigBasket, Kankatala, CMR Group, Creamstone, and Vishal Peripherals contributed their experiences and outlined how they are responding to shifting consumer expectations.
Avnish Anand, Director at Neeru's and Chairman of RAI Hyderabad Chapter, emphasised Andhra Pradesh's unique position in the national retail map, stating that the state blends local market sensibilities with global aspirations. He highlighted Visakhapatnam as an emerging centre for both retail talent and transformation.
Mavuri Venkatramana, Chairman and Managing Director of CMR Textiles and Jewellers Pvt Ltd, observed that consumers in Andhra Pradesh are becoming increasingly value-conscious while maintaining aspirational buying behaviours. He noted that shoppers seek quality and variety in both online and offline experiences, and that the growth of local brands, alongside interest in global trends, reflects a dual consumer mindset. According to him, cities like Visakhapatnam are demonstrating a rising appetite for both tradition and innovation.
Kankatala Mallikharjuna Rao, Managing Director of Kankatala Textiles Pvt Ltd, added that while consumers retain a strong respect for heritage and craftsmanship, the current generation also demands digital access, personalisation, and premium quality. He pointed to an increase in style awareness among Tier-2 city residents, which in his view marks a broader evolution in India's regional retail landscape.
The event concluded with an extensive networking session, offering attendees a chance to forge new business relationships and explore collaborative opportunities within the Andhra Pradesh retail market.
As retailers navigate shifts in consumer expectations and embrace digital strategies, regional cities like Visakhapatnam are stepping forward as vibrant growth centres. The emphasis on hyperlocal strategies, state-level policy support, and digital-savvy customer bases offers a clear signal that India's next phase of retail leadership will likely emerge from beyond the traditional metros. The summit also demonstrated RAI's commitment to expanding the national retail conversation into newer, opportunity-rich geographies.
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
