“In the current times, people should learn to co-exist” says Nitin Nagrale

The pandemic seems to have affected consumer behaviour a lot across all industries. In a recent report published by Facebook India in association with Boston Consulting Group titled ‘Turn the Tide’ highlighted how consumer behaviour has shifted and outlined the opportunities businesses will have in the changing times. ’80 per cent plus consumers will continue to practice social distancing and are bringing outside inside, over 40 per cent of consumers have already advanced by 2-3 years,’ the report concluded.

Nitin Nagrale, Founder & General Secretary, HPMF and CEO, QualityNZ shared, “There is an influx – a literal flow of people producing just about anything. It suggests how everyone is looking for opportunities grabs and willingness to do anything in times like these.” The critical nature of the current pandemic has been reiterated multiple times by experts from every sector. Pointing at the major general issue of payments being delayed, Nagrale stated: “People must learn to co-exist in these times.” “It is necessary to understand what has happened and what will happen, and then be prepared,” said Nagrale.

Nagrale was moderating a panel discussion webinar on ‘Procurement – the Big Changer’ organized by BW Hotelier. Nagrale has wide experience in opening five-star hotels in India and abroad. He was involved in setting up The Regent Mumbai (Taj Lands End), Grand Hyatt Mumbai, The Westin Mumbai Garden City, among many others. In the panel, Nagrale shared his expert views on what needs to be done to revive the hospitality sector.

An important point shared by Nagrale is in the post-pandemic scenario, the sourcing by hotels need to be done very intelligently. Only this way, Nagrale argued, there is a possibility for leveraging maximum revenue with good quality services. According to Nagrale, who also holds an honorary doctorate in Supply Chain Management, the supply partners are going to be very important in the future and have to be navigated properly. Looking forward, he shared that optimization and retention will be the way forward in ferrying past the present stress of pandemic.