Vol 1 Issue 11
عربي SUNDAY, FEBRUARY 11
Red Sea Mall, a subsidiary of Red Sea Markets Company, hosted the Red Sea Star Gala on 31st January 2024 at the Joudyan Hotel to honour and celebrate its steadfast success partners.
This event was an expression of appreciation for their efforts in sustaining and advancing the programs, businesses, and services offered at the mall. Red Sea Mall awarded 49 prizes across various categories, including Best Customer Service, Best Store, Best New Store Opening, as well as top performers in the fields of Fashion, Beauty, Jewellery, Entertainment, and the Best in the Dining category. Additionally, awards were given for the Best Customer Experience in activating International Days and community services.
GROWING SOCIAL SPACES
Shopping malls are no more just a place to shop and go, they are emerging as hotspots for social mingling and thus are the ‘social spaces’ of tomorrow.
We operate more than 1000 stores in the region and have a presence of 42+ brands from our portfolio, here in the region. What is interesting to notice is the power of transformation and the speed with which the infrastructure and development are happening in this region. The growing social spaces or shopping malls are an investment, and it hints at building long-term bonds that give rise to steady retail relationships.”
Vice President, KSA, Alshaya Grou
THE CHANGING FACE OF RETAIL
Cinema is a new addition to the entertainment space of KSA, but it is fast growing and contributing significantly to the growing retail narrative of the Kingdom.
Cinema is a recent phenomenon, and it is picking up very fast. We started just 4 and half years back and within this short period, have been able to grow our presence massively to touch 60 screens. Cinema as a business has had to suffer its share of lags owing to several contributing global factors. However, the growth in KSA for cinema is phenomenal and the local cinema industry is fuelling the prospect of the theatre business. We aim to support this growth by making strategic choices of locations when it comes to expanding across the region”
“Localisation is a big factor for growth for VISION 2030 and homegrown brands have now become real destinations in KSA, achieving commercial success. However, sometimes driving homegrown brands can be difficult in a crowded market. Having said that, if homegrown brands build a strong identity, create values, and meet the brand promise they surely have the potential for success. It is important to create a strong base within the landscape and retail ecosystem of the Kingdom to be able to venture out and win in the global market. That’s the focus which we need to determine for future.”
Geekay Group has recently announced its expansion plans for KSA. Geekay is expanding its presence in the Kingdom of Saudi Arabia, with plans to open additional stores, bringing the total to 10 by May 2024!
Jarir Marketing Company announced the estimated annual fnancial results ending 12-31-2023. Total revenues for the year 2023 amounted to 10.6 billion riyals , an increase of 12.8% over the previous year 2022, which amounted to a total revenue of 9.4 billion riyals.
/klaʊd ˌpi.əʊˈes
A simple concept Cloud POS refers to a point-of-sale system or a POS system that securely stores all of your business’s data on remote servers rather than on local computers and servers. This helps keep the data secure without occupying a significant space in the physical server.
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