Retail is a highly attractive and lucrative business. But it’s a difficult sector to be in because success doesn’t come easy. The recipe requires a range of ingredients – huge capital, vigilant and focused management, detailed strategy and plans to map expansion in different locations. That’s not all. Deciding a location itself requires pre-planning and in-depth research. Then you need the right product mix, offered by efficient and friendly staff. You’ve got to get all this right if you wish to taste success and make retail a lucrative business.
Abdul Jabbar Al Sayegh, group chairman, Al Sayegh Group.