How Brands For Less is setting new benchmarks

January 29, 2024 | By Anurima Das

Toufic Kreidieh, Founding Partner and Chief Executive Officer, Brands For Less

Keeping value at the heart of every decision, Brands For Less (BFL) Group hit significant milestones in 2023. From expanding to the Kingdom of Saudi Arabia (KSA) and fluently hitting new highs in a new territory to setting new standards on the backend and operations side of things, the brand has had phenomenal growth over the last year.

In an exclusive conversation with IMAGES RetailME Toufic Kreidieh, Founding Partner and Chief Executive Officer, Brands For Less said, “In 2024, the landscape of value retail is set to expand significantly, with customers increasingly seeking cost-effective yet quality-driven products. This inclination towards value-centric shopping is growing, reflecting a shift in consumer behaviour where customers are becoming more discerning about their purchases.”

Growth milestones

2023 has been an exciting year for Brands For Less, marked by significant milestones that have fortified the brand’s presence and operational excellence. One notable achievement was the inauguration of its Logistic Fulfillment Center in KSA, setting a new benchmark in the brand’s logistical capabilities. This fully automated centre, equipped with state-of-the-art IQ Robotics systems, has revolutionised operations, enhanced efficiency and enabled the team to better serve customers in the Kingdom.

“Additionally, our expansion across key markets has been transformative. We’ve successfully extended our footprint with new store openings in KSA, Bahrain, Kuwait and Qatar. As the year came to a close, we celebrated a major milestone, ending with a total of 27 stores in KSA. These expansions exemplify our commitment to reaching wider audiences and delivering unparalleled shopping experiences to diverse communities. Each new store represents our dedication to providing convenient access to quality products, further solidifying our position as a leading retailer in the region,” Kreidieh shared.

Looking at the future

In 2024, BFL Group is embarking on a path of innovation and expansion across the Middle East and Europe. The brand’s strategic plans are crafted to elevate customer experiences and cater to a global clientele.

“Our commitment to digital transformation is unwavering. We’re enhancing our online platforms, refining user interfaces and implementing innovative digital marketing strategies to boost brand visibility and accessibility. Additionally, we’re intensifying our focus on sustainability, emphasizing on eco-friendly practices and forming exciting collaborations and partnerships that align with our values. Further, our team remains our greatest asset. We’re dedicated to empowering our staff through comprehensive training and support, fostering a culture that celebrates innovation, diversity and inclusivity,” Kreidieh added.

Trends to watch out for

Asked about what will redefine the regional retail landscape in the near term, Kreidieh pointed out three prominent trends. These include conscious consumerism, the evolution of digital channels and the demand for personalised shopping experiences. Additionally, the trend towards personalised shopping experiences is shaping customer preferences, with tailored recommendations and immersive engagement driving brand loyalty and satisfaction.

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