Update KSA English Jan 14 2024 – Future of retail business in Middle East

Vol 1 Issue 8

عربي SUNDAY, JANUARY 14

GIGAPROJECTS ARE OPENING PATHS OF PROSPECT

The government in the kingdom is helping build a conducive environment for the society to grow and prosper.

“A good section of the society is likely to feel threatened and pressurised by the government’s initiatives and what they are undertaking in the Kingdom for its growth. However, we should not feel powerless by these gigantic projects, rather treat them as our backbone for growth. This is the platform that the government is giving us and it’s our turn to embrace and leap forward by getting inspired. We all have to contribute in our meaningful ways to embrace the good,” Faisal Abdulrahman Alnasser, CEO, Alandulus Property mentioned when sharing his insights at Saudi Retail Forum 2023 at Riyadh.

WOMEN POWER

Women in the region is starting to lead from the front and is slowly breaking away from the age-old norms.

There is a wide-spread notion that grocery as a segment does not attract many women and normally women stay away from this sector. However, such is not true when it comes to Carrefour and it is really heartwarming to see that women are not only employed in key positions within the team but they also lead and take over the role of a store manager wholeheartedly. In the Kingdom the concept of women workforce is getting a big facelift and we are happy to see that more women are coming and taking over ranks and positions that were earlier thought to be men-centric”.

Mohamed Naji Al Assaf

Country CEO, Carrefour Saudi Arabia

TELLING THE RIGHT STORY IS IMPORTANT

Just selling some products with a ‘Made in KSA’ tag is not enough; it is important to weave a right story.

There is no manual of how one can do right or what way they can do business which appeals to a global audience. Rather, it is important to be true to what we do and work with a narrative that is weaved with honesty and built with the right intent. We curate homegrown brands, handpick them based on their intent. We have heard our international audience come to us and tell us that they couldn’t believe their eyes when they saw the products. This is because the world has a different perception about Saudi Arabia and that’s what we try to break away from and build the homegrown universe’s story with uniqueness”.

Tamara Abukhadra
Founder, Homegrown Market

“Saudi Arabia is changing very rapidly and the whole landscape is undergoing massive change at every juncture, across segments. But walking towards Vision 2030 one of the massive changes that we have witnessed in the Kingdom is the changing dynamics of the workforce. Women have started to confidently lead from the front at every segment, and job role. Women in the Kingdom are now taking over entrepreneurship roles also without any reservations and going forward to rule with power. This is a big shift and will continue in the future. But what becomes relevant here is the role of retail in supporting women and helping them grow through the ranks”.

Frederic
Levy-Perrault
CEO, Al Raya Supermarkets

Blooming, a leading Saudi homegrown fashion brand founded to always stand by women, providing them with the comfort and confidence they need in their daily lives, has opened its newest store in Jeddah at the village mall.

Arabian Oud re-opened the first store with the new concept in Riyadh Park. Arabian Oud is the largest fragrance manufacturer and retailer around the world specializing in incense, oriental perfumes and oil perfumes.

Cole Haan in a short span of a month has opened 2 new stores in KSA. Taking the store count up to 15+ in the Kingdom the new stores have come up at Tabuk Park and The Park in Taif.

ENDLESS AISLE noun

/drɒpˈʃɪp.ɪŋ/

The Endless Aisle refers to new method retailers are using to showcase their entire range of product offerings using digital tools like smartphones and mobile devices. This method connects both worlds: Offline & Online and helps the customer order for products that’s not on the shelf at the moment. This helps retain the customer and continue serving them without having to disappoint them in case of unavailability of a product.

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