UAE-based Home Box has opened its 20th retail outlet in the Kingdom of Saudi Arabia (KSA) and 32nd in the GCC as part of its expansion strategy.
Strategically located at Riyadh’s Khalid Bin Walid Street, exit 8, Al Hamra district, the new expansive store is among the largest outlets in KSA covering over 30,000 sq.ft of prime space.
The new store was designed with the evolved customer in mind and their desire for an expertly laid out one-stop-shop that offers an extensive range of modern and classic furniture and premium home accessories at affordable prices.
“KSA is a special market for us mostly due to its cultural vibrancy and our customers’ sense of style and fashion. Driven by their thirst for affordable modern furniture, we have now opened a new store to complement our existing outlets in the region. This new store, which will also cover all of Riyadh, will feature our best-selling pieces as well as a new range of designer home,” said Ajay.
Bringing its total GCC store count to 32 and a combined floor space spanning over 915,000sq ft, the new outlet will feature a collection of over 5,000 home furniture and accessories including a new line of nine different styles of premium quality mattresses.
As part of its long-term expansion strategy, Home Box, which also has 12 franchise stores in Africa, is also planning to open three additional stores in various regions this year with plans at an advanced stage to enter new markets in the GCC.
Home Box expansion spree comes against the backdrop of pandemic-related movement restrictions. Despite the restrictions affecting footfall in stores, KSA has experienced significant eCommerce growth with market volume expected to reach US$8.2 billion by 2024. This is largely driven by retailers shifting most of their operations online.
“As the region experiences the gradual easing of Covid-19 restrictions, we are slowly seeing a steady increase of walk-in customers at our outlets, which is part of the reason why we have decided to soldier on with our expansion plan. However, with consumers adopting new digital buying patterns, we are also heavily investing in a robust and convenience-focused eCommerce infrastructure to cater to our growing online customers as well,” he added.
Words by Farimah Moeini, Snapchat Head of Industry – Retail and Travel TheJuly 5, 2021 | By RetailME Bureau
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