$2 TRILLION INDIAN RETAIL INDUSTRY
The Phygital Retail Convention (PRC) 2025, held on May 7-8 at the Jio World Convention Centre in Mumbai, was India’s largest retail intelligence event, attracting over 1000 participating brands and companies. With a focus on the theme “Infinite India – The World’s Fastest Growing Retail Market,” the convention served as a hub for innovation, ideation, and networking opportunities.
Presented by Inorbit Malls and powered by Mufti, PRC 2025 featured over 3000 top retail professionals, making it an essential platform for knowledge exchange and business development. The 1-lakh-plus sq.ft venue housed a spectacular showcase of cutting-edge solutions and transformative strategies redefining retail in India and beyond.
Key highlights of the event included participation from prominent business leaders and thought leaders shaping the future of retail, as well as influential voices from various sectors. Over 300 speakers shared their insights on retail tech, design, real estate, logistics, and omnichannel solutions, with attendees gaining valuable knowledge to stay ahead in the rapidly evolving retail landscape.
The Phygital Retail Convention (PRC) 2025 showcased hundreds of top brands from sectors like fashion, food, lifestyle, real estate, and technology, both from India and abroad. The event featured over 300 influential retail, business, and management leaders, including prominent names such as:
BS Nagesh (Chairman, Shoppers Stop Ltd.)
Damodar Mall (CEO, Grocery, Reliance Retail)
Harish Bhat (Former Brand Custodian, Tata Sons)
Mukesh Bansal (Founder, Myntra, Cure.fit)
These industry experts shared their insights and experiences, fostering a rich exchange of ideas and knowledge among attendees. The convention served as a platform for collaboration, enabling professionals to explore innovative solutions and strategies that are shaping the future of retail in India and beyond.
Bhavesh Pitroda’s welcome address at PRC 2025 emphasized the theme “Infinite India,” highlighting the nation’s tremendous growth and transformation as the world’s fastest-growing retail market.
Key Insights from the Address
PRC Suite Introduction: A new feature for PRC 2025, these are exclusive boardroom-style discussions for CXOs from retail companies, segmented by categories like food, apparel, fashion, footwear, and jewelry. This initiative arose from industry feedback, aiming to foster focused, high-value conversations among leadership.
Event Scale and Engagement: Pitroda stressed the event’s role as a platform for learning, networking, and exchanging ideas, encouraging attendees to maximize interactions across the two days.
Content Strength: The convention features around 150 live presentations and jury-led sessions involving 35 jury members, culminating in awards recognizing industry excellence. On
Bhavesh Pitroda, Group CEO & Director, IMAGES Group said “India today stands at the cusp of a bold new chapter in its economic growth. PRC 2025 reflects the power of this new ‘Infinite India’, through not just its theme, but also via the vast and versatile line-up of speakers, exhibitors and attendees from across the country.”.
Retail Mantras for 2025:
Innovation & Freshness: Speakers echoed the need for constant product innovation and freshness, both in stores and online, to meet rapidly changing customer expectations.
Convenience: Post-pandemic, consumer demand for convenience and omnichannel presence has intensified—brands must meet customers wherever they are.
Real-time Adaptability: Industry experts noted that quick adaptation to shifting consumer needs is crucial to staying competitive—those lagging behind risk losing relevance.
Sticking to Basics: Some leaders emphasized that fundamental retail principles remain as important as ever, regardless of evolving trends.
Role of Technology: AI, data analytics, and assisted decision-making are becoming core tools for efficiency and for staying ahead in the fast-evolving retail space.
Pitroda’s address captured a collaborative vision—uniting brands, mall developers, consultants, and tech providers to leverage innovation and technology while focusing on customer centricity and operational fundamentals.
The “RETAIL LEVEL-UP: THE ENTERTAINMENT EDITION” report was officially launched at PRC Summit 2025 in Mumbai by Images Group and CBRE, featuring leadership from Nikhil Bhatia (MD & Co-Head, Capital Markets & Residential Business, CBRE India), Amitabh Taneja (CMD, Images Group), and Manas Prakash (Asst VP & Tourism Sector Head, Invest India). The event segment included an in-depth research presentation following the launch.
Nikhil Bhatia’s presentation for the CBRE “Retail Level-up: The Entertainment Edition” report at PRC 2025 emphasized how entertainment has become the foundation of the modern experiential retail economy, not just a value-add.
Key Presentation Highlights
Customer Experience: Bhatia noted the shift from satisfying to truly entertaining customers, positioning immersive experiences as critical for retail success today. Customers now seek memorable outings, not just purchases, driving retailers to innovate with augmented and virtual reality features within malls.
Entertainment as a Growth Driver: The entertainment segment in Indian malls has grown by 150% and is expanding 1.4 times faster than other product categories. This signals a clear demand for experience-led offerings, according to both quantitative and qualitative findings in the report.
Family Entertainment Centers (FECs): Modern FECs go beyond standard arcade offerings—examples include optic golf, paddle courts, and gourmet dining—all integrated into the retail environment. Such destinations are now pivotal in driving footfall and extended dwell time within malls.
City-wise Growth: Data cited by Bhatia highlights remarkable increases in entertainment space:
Bangalore: 83% increase
Mumbai: 82% increase
These growth trends underscore India’s boom in entertainment-led retail.
Top Mall Experiences: After FECs and theme parks, upscale bowling alleys have emerged as highly desired experiences, reflecting evolving mall-goer preferences.
Bhatia credited Invest India and partnerships with IMAGES Group for establishing a strong platform—stating this collaborative ecosystem is essential for elevating India’s retail environment and keeping pace with evolving consumer expectations.
The Phygital Retail Convention (PRC) 2025 featured the highly anticipated return of India’s quiz legend, Siddhartha Basu, who hosted the India Retail Brain Game at the event. The engaging quiz session added an interactive element to the summit, providing attendees with an enjoyable and competitive experience while testing their knowledge of the retail industry.
Siddhartha Basu’s involvement in the convention ensured that participants were not only exposed to innovative ideas and insightful discussions but also enjoyed a fun and memorable experience. His presence at PRC 2025 further solidified the event as a dynamic platform for learning, networking, and collaboration among retail professionals in India.
Key takeaways from Sandeep Varaganti, CEO of JioMart, regarding the company’s quick commerce strategy are as follows:
JioMart’s Profit-Driven Approach
JioMart is focused on creating a profitable model for quick commerce, intentionally avoiding the loss-making patterns seen in several other start-ups in the space.
The company is evaluating a “dark store” model as a way to efficiently fill delivery gaps that exist even after leveraging its extensive kirana store network.
Operational Insights
JioMart’s current reach spans over 1,000 cities, but there remain under-served areas which dark stores could address.
The company refuses to “burn money” for market share gains, instead aiming for immediate and long-term profitability as guided by Reliance Retail’s cash flow-driven culture.
Customer Behavior and Delivery Model
Customer expectations for delivery speed are evolving:
JioMart notes that most customers are comfortable with a 30-minute delivery window, and a slight increase in wait time is seen as acceptable.
The average basket value on JioMart currently stands at around Rs 700, which is lower than before, reflecting changing shopping behavior.
Broader Ecosystem and Integration
JioMart’s strategy is deeply integrated within Reliance Retail’s massive footprint, leveraging synergies from its 18,000 stores across different retail formats.
The kirana network, while robust, is recognized as part of a broader, evolving retail ecosystem impacted by digital transformation and customer preferences.
These points summarize Sandeep Varaganti’s latest views on scaling JioMart with an emphasis on data-driven growth, sustainable profitability, and adapting to India’s dynamic retail environment.
The PRC Summit 2025 panel “The New Theatre of Physical Retail” in Mumbai, Panel: Juhi Santani, Founder & Director, Retale Designs Kavita Tiwari, VP, Head – Business Expansion & New Projects, IRHPL Group of Companies Nishant Poddar, CMO & Head Retail Experience, WROGN Rajesh Sharma, CEO, Kalatmak Spatial Systems Rakesh Ajila, Sr Director – Real Estate & Brand Expansion, cure.fit (cult.fit) Sahil Kansal, Head Of Property Development & Design, Infiniti Retail – Croma Dhaval Raja, Chief General Manager, Senco Gold and Diamonds, Anchor: Anand Dutta, Associate Executive Director, CBRE, highlighted how the rise of sensory design, technology, and phygital strategies is transforming brick-and-mortar stores into immersive, emotionally compelling environments.
Sensory Design: Multi-Sensory Engagement
Retailers are moving beyond visual design, focusing on smell, touch, sound, and lighting to create memorable in-store experiences that evoke emotion and foster loyalty.
Modern stores are crafted as environments that tell a story, using sensory cues strategically for deeper psychological impact.
Elements like signature scents, dynamic lighting, curated music, and textured materials actively contribute to the overall brand narrative.
Technology: Intelligence and Interactivity
The “phygital” approach blends the strengths of physical retail with the intelligence of digital, using AR, AI, and smart devices to personalize experiences and streamline journeys.
Technologies such as interactive displays, virtual try-ons, and QR-powered product information enhance engagement and bridge online-offline worlds.
Tools like heat mapping and real-time analytics enable retailers to adapt layouts and promotions instantly, responding to customer behavior as it happens.
Phygital Strategies: Infinite Stages for Experience
“Phygital” means using digital overlays—such as AR in displays or mobile-enabled interactivity—to transform shopping into a theatrical, emotional event.
The emerging trend involves reimagining stores as flexible, stage-like platforms where each visit can feel new, personalized, and highly engaging.
Modular fixtures, adaptable layouts, and omnichannel touchpoints empower retailers to update displays dynamically and blend e-commerce with in-person storytelling.
Emotional Connection and Personalization
Technology now allows true personalization: using customer data to tailor merchandising, promotions, and even environmental elements to fit individual preferences.
The future of physical retail lies in merging intuitive tech with sensory richness—turning every store into an “infinite stage” for expression and emotional resonance.
This session at PRC 2025 made it clear: stores must now be immersive, intelligent, and emotionally engaging—where physical space serves as both an experiential platform and a dynamic, data-powered environment.
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At the heart of Mufti lies the desire to empower men to express their personal style and embrace their individuality. By continuously pushing boundaries and reimagining menswear, Mufti has become synonymous with fashion that is both aspirational and attainable. As a testament to Kamal Khushlani’s unwavering commitment to self-expression through style, Mufti continues to inspire and innovate in the world of men’s fashion.
The brand caters to men who appreciate refined style and seek clothing that not only enhances their appearance but also complements their individuality. By staying true to its roots and channeling the vibrant energy of Mumbai, Mufti consistently delivers distinctive fashion that resonates with its customers. Through its unwavering commitment to quality and innovation, Mufti continues to forge new paths in men’s fashion, inspired by the city that has shaped its identity.
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