RETAILME PEOPLE – Future of retail business in Middle East

VOL 1 ISSUE 7

THURSDAY, SEPTEMBER 05

Saudi Arabia Accelerates Digital Transformation in Retail, with Purchases Projected to Reach $176 Billion by 2026.

PURCHASE POWER

Ministry of Commerce - Saudi Arabia is preparing a strategic study focused on the digital transformation of the retail sector to enhance the local market. According to a circular seen by “Al-Eqtisadiah,” Saudi Chambers of Commerce have been asked to support the study, which seeks to boost digital innovation and advance retail technology. The study highlights the region’s growth potential, driven by the tech-savvy Saudi consumer, who is increasingly adopting smart devices and e-commerce platforms. As one of the Saudi economy’s largest and most essential sectors, retail in Saudi Arabia plays a pivotal role in the Middle East and North Africa (MENA) region. Saudi Arabia is the largest consumer market in the region, with high purchasing power driving demand across various services and products. According to a report by “G World” on Saudi retail, this sector is expected to witness sustained growth.

Tashas Group announced the appointment of Andy Holman as its new Chief Operating Officer. With a remarkable track record in the hospitality industry and a passion for excellence, Andy brings a wealth of experience and fresh perspectives to the team.

Hyatt has announced the appointment of two General Managers for the Hyatt branded hotels at The Red Sea Development in the Kingdom of Saudi Arabia, both set to open by the end of 2025. Jean-Francois is a seasoned General Manager with over 30 years of experience with Hyatt. Throughout his illustrious career, he has held various positions at properties across several regions, garnering numerous awards and recognitions, particularly for his expertise in successfully opening hotels and resorts. Jean-Francois Durand will lead the 430-room Grand Hyatt The Red Sea and Juan Paolo Alfonso will oversee the operations and international launch of Miraval The Red Sea. Juan Paolo is an accomplished General Manager, who is tasked with bringing Miraval’s life in balance ethos to the Kingdom.

TREND

SPOTTING

THE POWER OF
COMMUNITY

“Customisation and community-building will remain at the top of every retailer’s mind. Fashion retailers, particularly, are embracing the concept of customisation and trying to offer personalised products and services to customers just to build a community of like-minded people. This trend is gathering a lot of momentum, alongside sustainable practices”.

Neeraj Teckchandani

Group Chief Executive Offcer
Apparel Group

TREND

SPOTTING

TIMELESS
APPROACH

“If you are building a ‘brand for tomorrow’ and portraying your brand as the ‘brand of choice’ for Gen Z then sustainability is not an option anymore, it is a must. In KSA pricing is a factor of consideration as customers don’t like to pay a premium or bear that extra cost when it comes to investing in a sustainable product. However, social responsibility is a big factor too and sustainability is a key trend to align with social causes and responsibly stand up to the situation to create a brand that will resonate with a youth-centric customer base”.

May Kanounji

Chief Executive Offcer
Blooming

TREND

SPOTTING

PURPOSE ORIENTED

“Our relentless pursuit towards achieving operational excellence, coupled with our unwavering dedication to not only meet but exceed customer expectations reflects our commitment to constantly uplift the regional leisure & entertainment landscape. In 2024- 25, our business is poised for strategic expansion, both within the UAE and internationally, curating an immersive experience that seamlessly blends entertainment and education. Locally, we are committed to establishing new venues in strategic locations across the UAE. Our goal is to become a go-to destination for families seeking a balance between leisure and enrichment.”

Shifa Yusuffali

Founder & CEO, IdeaCrate
Edutainment Company

TREND

SPOTTING

DETERMINED ATTITUDE

“My journey as an entrepreneur has been incredibly fulfilling. Starting SHREE from scratch required immense dedication, resilience, and a willingness to learn and adapt continuously. Building a brand that resonates with customers while maintaining authenticity has been a rewarding experience. Every day brings new opportunities for growth, innovation, and making a positive impact in the fashion industry and beyond. To all aspiring women entrepreneurs, I want to emphasize that your dreams are valid and achievable. Believe in yourself and your abilities. Surround yourself with mentors and a supportive network that believes in your vision. Stay resilient in the face of challenges, and don’t hesitate to take calculated risks.”

Sheetal Kapoor

the Managing Director of SHREE

The only way to do great work is to love what you do.

Steve Jobs

Tony Hsieh

Delivering Happiness: A Path to Profits, Passion, and Purpose

This book written by Zappos CEO Tony Hsieh s a business memoir that chronicles Hsieh’s entrepreneurial journey and the rise of Zappos. The book explores Hsieh’s unique approach to business, which emphasizes the importance of company culture and customer service. Hsieh argues that creating a happy, engaged workforce leads to better customer satisfaction, which in turn drives profits. He shares personal anecdotes and business insights, advocating for a values-driven approach to leadership. The book underscores the idea that by focusing on happiness— both for employees and customers—businesses can achieve long-term success and fulfilment.