Update KSA Dec 28, 2023

Vol 1 Issue 7

عربي THURSDAY, DECEMBER 28

RETAIL ENABLES ENTERTAINMENT INDUSTRY GROWTH

75% of consumers attending an event or local happening want to wear something new and appropriate for the event they are going to.

“There has been a 46% increase in queries when it comes to clothing and dressing up for occasions, football games, concerts, and other such entertaining events. The idea of entertainment is fast changing and the consumer’s appetite for celebration is increasing, which is also pushing retail by manifolds,” Basel Hijazi, Retail Marketing Lead at Google mentioned when sharing his insights at Saudi Retail Forum 2023 at Riyadh

RETAIL IS TRENDING

The Kingdom’s 2030 vision has a special section etched out to empower retail and fuel its growth.

When we entered KSA with our growth plans, we saw that the organised retail market dominated only 30% of the Kingdom’s entire retail ecosystem. However, as we started growing in the region, we are happy to report that today the organized retail sector compared to unorganized retail shares a 50-50 market share. Retail is growing at a serious pace in KSA, and it is a very positive sign”

Shehim Muhammed

Director, LuLu Saudi Hypermarkets

SHOPPER BEHAVIOUR UNDERSTANDING IS IMPORTANT

Agility and data analysis for customer understanding helps brands stay customer ready

The retail ecosystem is evolving and there is no denying that we all need to be ready for the change and stay on track to embrace the new trends to retain customers. Customer acquisition is no more a thing to worry about and all retailers can acquire the right customer base through campaigns and efforts they undertake. However, what takes a backseat is retention. That’s why we need to think retention from a data point of view, analyse customer behaviour trends and bring to the front the right approaches that helps with retention in the long run”.

Majed M. Al Tahan
Founder & CEO, AYM Commerce
Co-founder & MD Danube online
Founder of International Apps Company

“Given the government’s VISION 2030 initiative and its powerful agenda, the best and most heartening thing that we observe is the growing confidence of the local community to incept and grow their business. The same is helping increase the confidence level of the brands outside to start their business here and get a cohesive environment to grow in the Kingdom. Overall it is a very comforting business environment”

Karam Rajab
CEO & Co-founder
Baytonia

Cole Haan opens new store in Tabuk Park, taking the brand’s total store count in the Kingdom to 15+.

Leading French cosmetics brand Yves Rocher opens its new store in the Village Mall KSA. The brand already has a robust presence across the Kingdom and this new store pushes its store count to 30+.

Al Zain Jewellery opened its new boutique store in Panorama Mall in KSA. This new store pushes the brand to take its store count in the Kingdom to 4 and helps it increase its reach. A homegrown brand from Bahrain, Al Zain has stood for its legacy and heritage since 1930.

DROP-SHIPPING verb

/drɒpˈʃɪp.ɪŋ/

The concept actually describes a clever way for retailers to operate without stocking inventory. Instead, they forward orders directly to suppliers or manufacturers, who then ship the products straight to the customers. It can be a great option for businesses looking to minimize upfront costs and storage space while still offering a wide range of products.

10 Sep

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