Retail trade has taken Sri Lanka by storm
Retail trade has been visible across Sri Lanka during the past 30 years and during this period customers have been exposed to new trends in a sector that is growing rapidly in the country, said Chairman of the Sri Lanka Retail Association Hussain Sadique at the inauguration of the Sri Lanka Retail Forum 2017 held at the Cinnamon Grand Hotel in Colombo recently.
He said an academy has been set by the association to bring in professional standards to the industry with plans to host an international shopping festival in Colombo in the future. “We have received funds from the government for this purpose and plan to work with the Tourism Authority to implement this project.”
Referring to connectivity in Sri Lanka, he said any part of the country can be reached with a simple communication structure with one or two languages and with minimum barriers unlike in the neighbouring countries where such facilities do not still exist to promote rural, regional and national retail business. “We want to bring high profile international speakers to Sri Lanka every year and want to connect with Thailand and Singapore and Indian retailers within the next five years.”
Chief Guest at the event, Dr. Supachai Panitchpakdi, Honorary Chairperson, Central Pattana Thailand and the former Deputy Prime Minister of Thailand, said that the retail business was getting more complicated as consumers are becoming more demanding. “We need all the information in the world before arriving at making decisions. You are doing a wonderful job to Sri Lanka and want retailers to provide all the facilities including digital connectivity to consumers. We want to revive consumption expenditure and want consumers to spend wisely and enjoy shopping to be part of their lifestyle. ”
He said Sri Lanka is evolving into a hub economy in this part of the world together with retail business and ties between Thailand and Sri Lanka has been strong over the years as both share the same values.
The first-of-its-kind event was organized by the Sri Lanka Retailers Association in association with the Ceylon Chambers of Commerce.
Murali Prakash, Vice President of the Sri Lanka Retail Association said the association began its official business in October 2016 and was able to achieve a great deal within such a short span due to the hard work and interest shown by its members. “We hope to build consensus among us to push forward and develop retail trade in Sri Lanka and to withstand global competition,” he added.