RETAILME PEOPLE ENGLISH FEB 18 2024 – Future of retail business in Middle East

Vol 1 Issue 1

عربي MON, FEB 18

The outlook for retail in the Middle East remains optimistic in 2024 with anticipated moderation of inflation, tourist arrivals and stability despite ongoing geo-political tensions.

Now is a good time to
“cool down”

When we entered KSA with our growth plans, we saw that the organised retail market dominated only 30% of the Kingdom’s entire retail ecosystem. However, as we started growing in the region, we are happy to report that today the organized retail sector compared to unorganized retail shares a 50-50 market share. Retail is growing at a serious pace in KSA, and it is a very positive sign”.

Patrick Chalhoub

Group President, Chalhoub Group

The retail industry experienced a significant shift as Tony Spring ascended from ExecutiveVice President (EVP) to Chief Executive Officer (CEO) of Macy’s. Tony started his career in 1987 at Bloomingdale’s as an executive trainee.

Edible Arrangements has welcomed a new Chief Development Officer Mark Mele, CFE to the team!With a career spanning over 2 decades, Mark in his last role was working as a CDE for Paris Baguette America.

H&M recently surprised investors with the announcement that the brand head Daniel Ervér will take over from outgoing chief Helena Helmersson. Daniel Ervér took over with immediate effect, as the Swedish fashion retailer struggled to boost sales and profitability.

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

THE POWER OF
COMMUNITY

Neeraj Teckchandani

Group Chief Executive Offcer
Apparel Group

TREND

SPOTTING

TIMELESS
APPROACH

May Kanounji

Chief Executive Offcer
Blooming

When you’re surrounded by people who share a passionate commitment around a common purpose, anything is possible.

Howard Schultz

Founder & Chairman Emeritus, Starbucks

Sam Walton

Made in America I 1992

In an autobiographical account of his rise to the pinnacle of the American retail business, this book captures the personal reminiscences of the late billionaire retailer combined with dozens of interviews with Sam Walton’s family and friends. A must read, it traverses the journey of a retail hero and the makings of a giant retail name.

BUILDING AGILE STOREFRONT

A leading offine retailer from Central Asia wanted to relaunch their online store with a trustworthy, experienced technology provider. Yango Tech focused on building the right customer-centric approach for the retailer and paid meticulous attention to operational effciency and strategic commercial adjustments. What was on top of the team’s mind was delivering an agile approach that helps the retailer seamlessly offer their customers quick access to the inventory. With the business intelligence & new tech implementations from Yango Tech, the retailer brought down DATA INACCURACIES TO -15% & ACQUIRED 26% NEW USERS.

Learn more about how this was possible and deep dive into the world of possibilities.