Vol 1 Issue 27
عربيTUESDAY DECEMBER 03
Retail’s growth has always come from two sources: homegrown retailers and international franchisees. Think of Walmart and Amazon on the one hand, and on the other, regionally beloved retail powerhouses like Alhokair, BinDawood, Cenomi, Al Othaim, Nahdi, Manuel, and Jarir here in Saudi Arabia.
It’s fascinating to see how each country leans on its homegrown brands to represent its unique cultural fabric. In Japan, they are seen as cultural custodians, driving over 65% of retail sales. Similarly, in the United States, it is estimated that over 70% of total retail sales are driven by homegrown retailers, highlighting the significant role domestic brands play in shaping their respective retail industries. While, in India, homegrown retailers make up 70% of the market. Saudi Arabia truly stands at a fascinating crossroads. On one side, we have a flourishing homegrown retail ecosystem, with regional brands becoming national champions. On the other, tried-and-tested international franchisees like IKEA, Zara, and H&M continue to draw consumers. In fact, Saudi homegrown retailers account for 70% of retail employment and are projected to grow by 5% annually, thanks to the Kingdom’s support for local entrepreneurship through Vision 2030. As more Saudis take the helm of retail innovation, the narrative is shifting—toward empowerment, resilience, and self-reliance.
With Saudi Retail Forum scheduled for the 10th of December 2024, we are curating a special ‘Voices of retail’ series here to gauge what the retail ecosystem looks like and how it is shaping up in the Kingdom.
MAKING IT FASHIONABLE
Our business thrives on the transformative goals of Saudi Vision 2030. By promoting culture, entrepreneurship, and women empowerment, Vision 2030 paves the way for modest fashion to shine on a global stage, aligning with our mission to celebrate identity through elegance and innovation. By 2025, we aim to display in international store, starting in the GCC region, followed by Europe. The brand will focus on enhancing its digital presence with personalized online shopping experiences and AI-powered styling tools. Expanding the ready- to-wear collection to include sustainable fashion lines and Collaborations with global influencers and participation in prestigious fashion weeks will establish its presence in the global fashion market.”
Nabila Nazer
Owner, Nabila Nazer Establishment
GROWING WITH FOCUS
Our company’s objectives and strategies are fully aligned with Vision 2030, particularly in the perfume and beauty retail sector, where it stands as a leading Saudi enterprise. Guided by dynamic Saudi leadership, the company is dedicated to fostering localization and creating employment opportunities for Saudi youth. We aim to enhance the sector’s contribution to the economy by advancing digital sales, achieving comprehensive digital transformation, expanding its presence both within and beyond the Kingdom, and transitioning to the capital market (IPO)”.
Ali bin Awad Al Hadi
Saudi Retail Forum (SRF) 2024 Launch Video | December 10, 2024 | JW Marriott Hotel, Riyadh
Half Million opens a new outlet in Mayan Yard in Makkah. This takes up the brand’s outlet count to 24+ in the Kingdom.
Circle K opens a new store at Tahlia Street, Riyadh. This takes up the store count of the brand to 40+ in the region.
Nike store in Riyadh Park has just reopened post renovation. The brand has over 14 stores in the region and is progressively looking to expand with newer concepts and stores.
Refers to a network of interconnected devices that collect, exchange, and act on data through the internet. These devices, equipped with sensors, software, and connectivity, range from everyday objects like smart home appliances and wearable fitness trackers to industrial machines and healthcare equipment. IoT enables seamless automation, real-time insights, and enhanced efficiency across various domains, transforming how we interact with technology and the world around us.
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