In an increasingly challenging market, retailers must seize new opportunities and offer unmatched experience, stresses Virgin Group founder Sir Richard Branson during his keynote address at the National Retail Federations (NRF) Big Show 2017.
“Retail is tough,” he emphasises, having seen how tough retail can be.
Back in the 1990s Virgin Megastores was present in numerous locations globally, which dwindled with the rise of digital music. Branson had to shit most location except in the Middle East and North Africa.
The brand reinvented itself and launched new businesses.
“When we saw the writing was on the wall for music retailing, we looked at what was selling well in stores… It was mobile phones…so we said ‘Let’s get out there and start a mobile phone company’. Video games were doing well, so we started a gaming company. Those products became much bigger than our retail stores ever could have been,” Branson recounts.
In the face of digital onslaught, retail brands should consider a similar approach, he opines. “People who own retail stores should not think of themselves as retailers forever…Be entrepreneurial, and spin off businesses to survive.”
Watch this space for more updates from NRF’s Big Show 2017
Watsons to open 20 new stores in the GCC
In 2020, global health & beauty retailer AS Watson Group signed its
April 29, 2024 | By Rupkatha B / 
Mahalle began its operations in 2022 as an “Authentic Turkish Grocery in
“Retail is a people’s business. When building a retail brand or the
From being one of the first retailers in Dubai to ban single-use
For starters, Rabbit is a growing e-commerce grocery platform in Egypt always
In 2024 grocery retail major Choithrams has achieved several milestones underscoring its
Industry pioneers are embracing a comprehensive strategy that integrates consumer insights, digital
The regional grocery retail market is evolving fast keeping pace with constantly
From ethical and local sourcing to adopting cutting-edge technologies to curb food
The regional grocery retail market is becoming more and more diverse, offering
Spinneys, the leading premium fresh food retailer, has announced the opening of
Spinneys has announced the launch of The Kitchen by Spinneys, its first-ever
/ 
In what comes as a significant announcement, Middle East based eyewear majors
Emirati Gen Z women are seeking collaborative, culturally diverse and creatively enriching
GMG’s Everyday Goods – Retail division celebrates expansion milestone hitting 60 stores
Among several others, three key factors have fuelled the growth of homegrown
Empowering women, transforming communities: The rise of female-led businesses in Times Square Center
In its central Dubai location, Times Square Center stands not just as
One of UAE’s leading fresh food retailers, Spinneys has announced its intention
Acting as a bridge between Brazil and GCC markets offering a compelling
Commonly cited statistics indicate that around 20% of new businesses fail during
Louis Philippe, renowned for its premium merchandise spanning apparel, footwear and accessories,
Previous Article
