Over the past 10 days, the Dream Tree has been on display at the cross maidan in Mumbai. A part of the Indo-German Urban Mela, the Dream Tree was housed in the Deutsche Bank Pavilion that featured innovative projects from across the country, DREAM:IN being one of them.
Shagun Singh from Designwala had written about DREAM:IN in 2011. She has been following the project over the past year and when she heard about the Indo-German Urban Mela, she thought DREAM:IN was a perfect fit! She then introduced us to the team at Ogilvy & Mather in Mumbai who were handling the Deutsche Bank Pavilion there.
The Dream tree has been very well received in Mumbai, where people were asked to share their dream for the city. Over 2000 people visited the Dream tree exhibit and tagged their dream on the tree.
Anthony Padayachi, a former DreamCatcher that went on the journey had this to say about the exhibit “Loved it! The Dream:In tree without any doubt had the maximum people engagement. Was great to see people from all walks of life dreaming big for Mumbai, more importantly believing in it! ”
Jyotika Purwar, a part of the Mumbai team had this to say “The dream tree was the biggest hit. everyone loved the project. see you in Bangalore.”
The Dream Tree will be at the following cities on the dates given below –
Bangalore: June 22nd to July 1st, 2012
Chennai: August 24th to September 2nd, 2012
New Delhi: October 26th to November 4th, 2012
Pune: Jan 11th to Jan 20th, 2013.
We hope you can make it to all these cities. In any case, follow our twitter account @The_Dream_Tree to read all the dreams that have been tagged so far and keep watching this space for more news on the Dream Tree
See you in Bangalore!
Given below is a summary of the first session that took place on Saturday, the 21st of April in the DREAM:IN Center
Special Interest Group – Founded by Hemu
New Age Retail – comprises of
- Data Analysis – Analaysis + Data mining + CRM
- Online + Offline businesses in Retail
- Ecommerce + Mobile
- Technology as a tool for focus to promote entrepreneurship in retail
Key Note Address : Dr. Gibson, CEO of Retail Asso. Of India
He spoke about the evolution of retail from the barter systems to trading on ports under colonization to development of organised logistics in India and back under unorganised logistics and retail in today’s India.
He says that through the times the buying behaviour of Indians and family roles that determine collective buying patterns have changed. So it’s impact on buyer/User roles in modern India have be modified, keeping retailers and business men on their toes all the time.
He insists that the success and focus of Indian retail and therefore all trading and logistics should be profitability and viable business models.
Mr. Mehdi had the perspective that for the prosperity of Indian Retail the following aspects must be addressed
- Potential of online retail
- Identifying new niches of consumers
- Following the line of though- discomfort for retail reduced
- Greater options and addressing greater entry barriers for new retail businesses
- Recognising increased removal of pain points continually
- Recognising and removals of myths on cash on delivery models
- Security of online payment gateway
- Addressing solvable issues on logistics in the long term
- Its easier to solve trading and logistics issues in the long term than change consumer mindset
Ms. Arti Ganesh addressed consumer insecurity of online transactions and how tie ups with nationalised banks has helped restore faith in online buying
She says that opportunities as a consumer and an investor lay in creating disruptive retail models on account of Indian retail reaching an ‘investor inflection point’. The opportunities for consumers, however, were as follows
- Standard issue merchandise, online buying
- Online identity creation
- Services, online
- Feeder and support services, online
- India specific online business models – modified to ally to Indian consumer mindset
- Increased reach to be greatest focus of Indian Retail, online as well as offline
- Solving challenges in execution – ERetail Consulting
The Challenges in Indian Retail as agreed by the panel, to be confronted in the next 5 years are
- Western hemisphere models cannot be copied and applied in India – This Mentality needs to change
- Many retail models are incomplete business plans.
- Retail in India is still capital intensive. This should not only change as a mindset, but also that business men should apply commercial intellect to resolve this problem by business partnership and sourcing.
- Retail still suffers from long term lack of profitability as most companies struggle to break even.
- Many Business models are scalable but are not well founded and therefore make chronic losses
- Value creation is severely underestimated.
- Completion and big players scare away or defeat entry levels
- The mentality of spoiling consumers must change.
value proposition Vs. freebies/discounts
- The belief that in India, businesses need scale for profitability
- Most retailers and logistics partners ignore the convenience of consumers which will turn the retail industry in India into a conducive environment to businesses. They tend to work on supplying technology than convenience to consumers.
- Dependency on erratic Consumer behaviour is high. Consumer dependency Vs. awareness of retailers in the minds of users/consumers.
Opportunities in retail without online transactions:
Panel: Kabir Lumba, Lifestyle Retail
Kiran Natkarni, Investor, Kaati Zone