Sagar Daryani, co-founder and CEO of Wow! Momo Foods Pvt Ltd, said he is looking forward to the Phygital Retail Convention (PRC) and hopes India’s largest retail convention should highlight the real issues faced by the retail sector, including the ongoing slowdown in the industry. “I think from what I’m hearing from my industry peers in the QSR space, in the FMCG space, and also many of whom I know in the retail sector, there is a silent slowdown that is happening, which is fair; business has its cycle,” he said. “Platforms like the Phygital Retail Convention are a great place to be where you can share knowledge, exchange ideas, and communicate. So yeah, I am looking forward to PRC,” he said.
Daryani, however, added that he expects to gain momentum in the later part of 2024-25. He said that the current lacklustre show in retail cannot be compared to 2021-22 and 2022-23 when Indians splurge on everything from food to fashion and from homewares to holidays in a revenge consumption pattern post-pandemic. “It’s a revenge consumption year that you’re comparing to a normal year and maybe the new normal is slightly slow for this year,” he said. The initial year (2024) may see a slight slowdown, Daryani said, but the second half will be fast.
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