Despite intense competition, retailers in New Zealand have opportunities to achieve higher levels of growth and profitability, two experts have said.
According to Raman Ranchhod, Managing Director of the Ranchhod Group of Companies, the retail sector is in the process of recovery from the adverse effects of recession and hence this is the ideal time for businesses to showcase the quality of their products and services.
“New Zealand’s retail trade is a specialised and highly competitive market, and many businesses have a competitive advantage over others. Being owners of properties which account for a number of retail and commercial tenants in New Zealand and Australia, we are confident that this sector will witness improvements in the current and ensuing years,” they said.
The Ranchhod Group is the Sponsor of the ‘Business Excellence in Retail Trade’ category of the Indian Newslink Indian Business Awards 2012, entries to which will close at 5 pm on August 31, 2012.
Mahesh Ranchhod, Director of the Group said that there was a pronounced need to recognise and reward the success of retailers, particularly under the current market conditions.
“Our retailers would make use of the existing competitive advantage in price, service and product quality. With a recovering economy, I am sure that the Retail category will be popular this year.
“We wish all the participants the best of luck,” he said.
Business acumen
Raman Ranchhod, who has several decades of experience in diverse business activities in Wellington and Auckland, said that Indians have earned worldwide acclaim as astute businesspersons.
“Whether it is the corner dairy or a high profile blue chip retail store, our strength lies in our determination to succeed, whether it is for our family, to achieve our personal goals, or for the community as a whole.
“This determination is often what puts us in advantage over other retailers. I am delighted that Indian Newslink instituted the Awards scheme, exclusively for businesses of Indian origin in New Zealand,” he said.
Robust Process
We launched our Awards Scheme in 2008 to recognise and reward successful businesses owned, operated, managed and franchised by people of Indian origin.
However, all businesses exporting their products and services would be eligible to compete in the Best Exporter to India category.
There are 12 categories this year, each of which is sponsored by companies that are multinationals or those with global partnership and reach. Winners in each category qualify for the Supreme Business of the Year Award.
A panel of experienced judges, independent of this newspaper, evaluates the entries and announces the finalists and winners at the annual Awards Night. This year’s ceremony will be held on November 19, 2012 at Sky City Convention Centre in Auckland City. Details will be published in due course.
The Ranchhod Group
The Ranchhod Group, comprising companies and trusts, is involved in investment and management of commercial properties in Australasia and beyond. The performance of each company is directly linked to the performance of the property portfolio.
Owned and managed by a syndicate of well-experienced investors in New Zealand, the Group has displayed a passion for property for generations.
“The vision of the Group is to invest and manage profitable commercial and residential property across the globe with a long term view to list the Group as a public company,” Mahesh Ranchhod said.
The Ranchhod Foundation
The Ranchhod Group has established a Foundation to inspire businesses in New Zealand to think about giving back to their community.
Raman Ranchhod said that the Foundation reflected corporate responsibility of the Group towards the society and the community.
“The Foundation strives to undertake a number of charitable causes in New Zealand and India with a focus on supporting adults and children in need. It is a registered charitable organisation involved in a number of projects in New Zealand and India,” he said.
Ignition Partner Limited Executive Director Chad Willkie, who heads the independent panel of judges, said that the current economic climate is the best time for businesses to review their activities and set a new course for the next few years.
“This is the ideal time to take active steps to ensure your survival in the recession, invest in innovation so that you have new products and services to take advantage of the upturn when it occurs and look around to take advantage of the many business opportunities that occur (during recession).
“The Indian Newslink Indian Business Awards Scheme is the best place to start,” he said.
Photo: Mahesh and Raman Ranchhod at their office in Auckland
Mahesh Ranchhod with inmates of the Arka Foundation in Mysore, India (File Photo from Indian Newslink, June 15, 2010 issue)
Indian Newslink Indian Business Awards 2012
Categories Sponsor
Business Excellence in Retail Trade The Ranchhod Group
Business Excellence in Restaurant Trade
Business Excellence in Innovation Singapore Airlines
Business Excellence in Marketing Radio Tarana
Business Excellence in Customer Service Kalamazoo Group
Business Excellence in ICT KPMG New Zealand
Best Small Business 2degrees Mobile Limited
Best Medium-Sized Business Unitec Institute of Technology
Best Large Business BNZ Partners
Business Excellence in Export to India New Zealand Career College
Additional Categories
Best Young Entrepreneur of the Year Patton Limited
Best Businesswoman of the Year Triangle Television
Supreme Business of the Year (All entries will be entered for this category)