Vol 1 Issue 16
عربيMONDAY, July 15
According to recent Bain & Company reports e-commerce in Saudi Arabia is now accounting for 14% of retail sales.
This is higher than the previous estimates made by Bain & Company because this time around the research included almost SAR20Bn of GMV from SME merchants on platforms like Salla. Note that SAMA reports that MADA for ecommerce account for 12% of total consumer spend but the scope differs as SAMA considers all consumer expenditures, not only retail. But the most interesting insight is the fact that e-commerce accounted for 85% of total retail growth. Considering the large pipeline of shopping malls under development in the Kingdom, the researchers are trying to understand whether this will bring down the growth of the online courtesy the start of a new infux of retail stores or will it help the parallel growth of both sectors?
INFLUENCING THE TASTEBUDS
Food retail is diverse and dynamic, and the customer is equally varied and wants a taste of unadulterated goodness.
Over the years, we’ve learned that experience and content are imperative to selling coffee. Each of our coffee is designed locally highlighting culturally important aspects. Today, we grow around 1,000 tons of coffee annually in Saudi Arabia. Our coffee is organically grown, a variety that’s registered in the United Nations as an intangible asset. And we’ve taken this to another level with our new range of fruit-infused coffee.
INCLINED TO PERFECTION
Whether it is an upcoming restaurant chain or an established name in the ecosystem the concept of running business should always start with the people. Both internal and external people management helps fuel retail growth.
We’re not in the restaurant business. We’re in the people business. Having worked with Starbucks and now working with one of the largest F&B operators in Saudi Arabia with more than 500 restaurants alone in the Kingdom, the principle remains the same – a people-frst approach. Starting from the head offce, it cascades down to the restaurants that we operate. That’s our secret recipe
Faisal Younes
Chief Executive Offcer – F&B, Cenomi Retail
Acqua di Parma a leading Italian retail jewellery and luxury brand, which stands as a symbol of Italian sophistication, discreet luxury, and craftsmanship inspired by its heritage has recently opened its frst store in KSA at Riyadh Park.
With 13+ stores in Saudi, Kiko Milano has recently launched its new store in the Kingdom at the Tabuk Park Mall.
Whites, the leading beauty and lifestyle retailer in the Kingdom of Saudi Arabia with over 20 stores in the region, has recently opened the doors for its new Lavanda Park store.
/leɪəˈweɪ/
This service, also known as “payments in installments,” enables customers to reserve a product with a retailer until it is fully paid for. Customers can make payments in installments over a period of time and collect the product once the full payment has been completed.
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