Building with commitment

Navigating the retail landscape through a dual strategy of offline and online touchpoints has been instrumental in propelling NICE Homeware’s growth. 2023 marked a transformative year for this Saudi Arabia-based home furnishing business. In a conversation with IMAGES RetailME Sanjeev Sharma, Chief Executive Officer, United Homeware Company – NICE spoke about how the brand is approaching growth through a strong omnichannel strategy.

Recap 2023

NICE successfully grew from brick-and-mortar to e-commerce last year, adapting to evolving consumer behaviour. Catering to affordability, the brand addressed the rising demand for value-conscious options without compromising quality.

An omnichannel approach

“Our omnichannel approach strategically engages with the dynamic consumer landscape, enabling us to reach a broader and diverse customer base. Simultaneously, our brick-and-mortar stores continue to offer a distinctive and personalised shopping journey. Our unwavering commitment to adapting retail strategies in response to dynamic market shifts ensures that we not only meet but exceed customer expectations, delivering exceptional and memorable experiences,” Sharma summarised the brand’s strong footing across touchpoints.

Homegrown surge

The thriving e-commerce landscape in the MENA region, particularly within the dynamic KSA market, is showcasing substantial growth. The KSA market adeptly manages this surge by making strategic investments in robust infrastructure, dedicated localisation efforts and meticulous customisation to align with diverse consumer preferences. Balancing this growth, at NICE Homeware, the team not only acknowledges the vast potential within this space but also proactively engages in this transformative wave.

“By expanding our online footprint and curating bespoke offerings, we ensure our active participation in the evolving e-commerce landscape, aligning seamlessly with the discerning tastes and preferences of consumers in the region,” Sharma highlighted. “Anticipating significant growth, the homegrown segment in KSA is poised to expand, driven by a strategic move towards accommodating ‘Buy Now, Pay Later’ options,” he added.

Trends to watch out for

Sharma noted thatin the forthcoming 12 months, several pivotal factors will shape the transformative landscape of regional retail. Here are some key elements to keenly observe:

• Continued surge of e-commerce: The growth trajectory of e-commerce is set to endure. Retailers must channel investments into fortifying their online presence, optimizing the digital shopping journey, and elevating logistics and delivery capabilities to seamlessly meet the escalating demand.
• Omnichannel synergy: The convergence of offline and online retail channels remains imperative. Retailers will intensify efforts to provide an interconnected and harmonious shopping experience across various touchpoints, ensuring a cohesive journey for the modern consumer.
• Personalisation and elevated CX: The differentiation factor lies in personalised shopping experiences. Retailers, leveraging customer data and cutting-edge technologies such as artificial intelligence and machine learning will craft tailored recommendations, targeted promotions and unique encounters. This bespoke approach caters precisely to individual preferences and evolving needs, setting the stage for an unparalleled customer experience.
• Integration of sustainability: The integration of sustainability practices in businesses will continue to gain prominence. Consumers increasingly value environmentally conscious choices, making it essential for retailers to align with eco-friendly initiatives, thus contributing to a more sustainable future.

In navigating these trends, retailers must remain agile, adaptive and forward-thinking to thrive in the evolving retail landscape over the next year.

Anurima Das