Suman Guha, Chief Product and Technology Officer at Reliance Retail, spills the beans on the retailer’s tech playground, where investments flow faster than a retail discount on a Sunday.
New Delhi: With more than 17 years tucked under his fashionable belt, Suman Guha is not just a tech leader; he’s a wizard who can conjure up B2B and B2C magic. As the CPTO (because we love acronyms) of Reliance Retail, he leads the charge in fast fashion—because who doesn’t want their clothes to be as trendy as their Facebook feed?
Guha’s talents shine in product design, tech strategy, management, and basically anything that involves the word “growth.” He’s transformed tech into a multi-billion-dollar ticket to success, achieving adoption rates that make the latest iPhone look like last season’s sandals.
His retail saga began with Tesco, the British giant that taught him the sacred arts of customer-centricity and tech-driven innovation—think self-checkouts and loyalty programs. “Working at Tesco was my retail rite of passage. It was like Hogwarts for shopping,” quips Guha, as he mentions the loyalty platform now powering Reliance Retail.
Reliance Retail, part of the Reliance Industries empire, boasts brands like Reliance Trends and Azorte. They’re not just poking at fashion; they’ve partnered with over 50 international brands. With 18,650 stores and digital platforms, they’re practically a retail army, ready to take on the grocery and pharma sectors like heroes in disguise.
In the ‘making money moves’ department, Reliance Retail saw a 17.8% revenue boost, happily resting at Rs 3.06 lakh crore for FY 2024. In Q4, they posted a revenue surge of 10.62%—clearly, the retail gods smiled upon them.
The Mission of Seamless Shopping
Guha’s mission? Integrate physical and digital retail channels to create the ultimate shopper’s paradise. “We’re on a quest to blend tech with a shopping spree itself, making it as riveting as your favorite Netflix show,” he asserts. Utilizing cutting-edge tech, they’re optimizing supply chains like skilled jugglers, ensuring every store feels like a shopping utopia.
AI: Not Just for Sci-Fi Movies
Currently, they’re wielding Artificial Intelligence and Machine Learning like a superhero and sidekick duo. Whether it’s personalized recommendations or otherworldly AR/VR experiences for virtual try-ons—because who doesn’t want to try on clothes while sitting on their couch?—the tech is in full swing. “Our inventory management is so smart, it probably knows what you want before you do,” Guha jokes.
Investment: A Bottomless Pit of Tech
A tantalizing secret? How much does Reliance Retail invest in technology? “Oh, we can’t spill those beans,” Guha chuckles, “but let’s just say our pockets are deep, and we’re throwing in more funds than a misguided teenager on shopping sprees.” Their investments include everything from AI/ML to the magical realms of AR/VR, paving the way for tomorrow’s shopping.
Brands with Unique Needs: The Retail Balancing Act
Adopting different tech strategies for each brand? That’s like trying to uniquely customize every item at a potluck dinner. “We treat the challenges as platform problems. While basics are foundational, we sprinkle a bit of customization magic for each brand, whether fashion or beauty,” he explains.
The Future: Breathing Technology
When asked about future-proofing their business, Guha paints a picture of blockchain wizardry and 5G connectivity—because who doesn’t want super-speed in their shopping? They aim to stay ahead of consumer trends, like the savvy retail ninjas they are.
Tomorrow’s Transformation: AR and GenAI
“AR and Generative AI will change the shopping game,” Guha beams, envisioning a sci-fi world where customers can virtually try on clothes while contemplating life decisions in the aisles. “Generative AI could let individuals craft unique product designs tailored just for them—like designing a jacket that screams ‘I’m fabulous!’”
Decision-Making: Data vs. Gut
When it comes to tech decisions, Guha is clear: “Data is the big boss here. While intuition has its place, we’re all about evidence-based choices. It’s not about gut feelings but about analytics saying, ‘This is the way!’”
Reliance Retail’s Tech Basket
Personalized Experiences: Reliance has cracked the code on tailor-made shopping. They analyze data to predict preferences like fortune tellers at fairs.
Unified Inventory Management: Real-time tracking is their secret sauce, letting customers check availability faster than they can say ‘what’s in stock?’
Click-and-Collect Services: Customers order online and eagerly sprint to collect—because who doesn’t love a good retail run?
In-Store Engagement: With AR, customers can virtually try on clothes, making shopping an engaging experience rather than a chore.
