On 31st August, 2024 Creador Club of Jagan Institute Of Management Studies in Sector 5, Rohini organized an event titled “Exploring Retail Events”, bringing together passionate and innovative minds to tackle the challenges faced by the struggling companies. The event aimed to explore the reasons behind the downfall of various retail brands and, more importantly, to brainstorm and propose strategies for their revival using multiple retail pricing methodologies, data analysis and also redesign the logos of the given brands.
The event started at 10:00 am with Dr. R.K. Singh, Dean PGDM-Retail Management, welcoming the esteemed judges of the event. The judges for event were Dr. Navneet Joshi, Professor and Innovation Head IIC-JIMS and Miss Rachna Agarwal, Retail Trainer and a successful Entrepreneur.
Participants from various backgrounds came together, each were assigned a company. Each team was assigned 12 Minutes to give their Presentation in front of the judges. They analysed the factors leading to the company’s decline and then presented innovative strategies to turn the brand around. The event emphasized on creative thinking, business acumen, and the ability to reimagine a company’s future.
Key Highlights of the event included:
· Strategic Proposals: Participants showcased in-depth research and understanding of the retail industry, offering concrete solutions to revitalize the assigned companies from rebranding and restructuring to market repositioning and digital transformation, the ideas were both practical and forward-thinking.
· New Ideas and Logos: Alongside their strategic proposals, participants also presented fresh ideas and redesigned logos that reflected the renewed vision for the companies. The creativity displayed in these visual representations was remarkable, adding a vibrant and hopeful outlook to the future of the brands.
· Collaborative Environment: The event fostered a spirit of collaboration with participants engaging in discussions, providing feedback, and refining each other’s ideas. It was a true testament to the power of collective intelligence and the importance of peer learning in tackling real-world business challenges.
The event concluded with a deep sense of accomplishment and inspiration as participants reflected on the valuable insights gained throughout the day. The judges were thoroughly impressed by the creativity, depth of analysis, and strategic thinking displayed in the presentations. The sampling session allowed the judges to experience the participants’ ideas in a more tangible way, reinforcing the feasibility and impact of the proposed strategies.
Awards were given to the most innovative and actionable proposals, recognizing the hard work and ingenuity of the participants. As participants and judges alike departed, there was a shared understanding that the ideas generated during “Exploring Retail Failure” could one day help in shaping the future of the retail industry. The event was a resounding success, leaving everyone motivated to continue exploring new avenues for growth and transformation in the retail sector.