Many organizations in the retail sector remain reactive to change, especially when it comes to government regulations. They wait for policies to be finalized before adapting, missing the critical opportunity to shape these decisions during their development. The reality is businesses can play a significant role in influencing regulations that directly impact growth, costs, and ease of doing business. For instance, upcoming changes in employment, taxation, and cross-border e-commerce policies present both challenges and opportunities. By coming together as a united industry, we can collaborate with the government, provide informed recommendations, and ensure that policies align with the sector’s needs. This is not just about advocacy; it’s about creating predictability, fostering innovation, and securing the future of retail in Saudi Arabia. The time to act is now-standing shoulder to shoulder as an industry to shape our destiny rather than waiting for change to dictate our course.
Prince Waleed AlSaud, 𝐅𝐨𝐮𝐧𝐝𝐞𝐫 𝐚𝐧𝐝 𝐂𝐄𝐎 of Mukatafa Consulting Company