Update KSA NOV 15 2023

Vol 1 Issue 2

عربي WEDNESDAY, NOVEMBER 15

BUILDING AN

EMPOWERED WORKFORCE

“The Kingdom of Saudi Arabia is evolving daily. Vision 2030 has created the roadmap for increased women’s participation in the workforce.”

Mae Al Mozaini, CEO & Founder

NUSF – The Arab Institute for Women’s Empowerment

“At every level, women are excelling – whether you’re entering the job market, whether you’re a startup founder, a female executive, or a minister. The Kingdom is investing heavily to make Saudi women resilient, agile, and able to take on the changing future, the glimpses of which are already apparent. If anything, it’s an exciting time to be a Saudi woman,” Mozaini explains when talking about how women empowerment can strengthen the growth of the Kingdom.

TECHNOLOGY WILL ENABLE KSA RETAILERS TO PROVIDE PERSONALIZED AND IMMERSIVE SHOPPING EXPERIENCES

In the coming years, technology is expected to significantly transform the retail industry, bringing about various changes that will shape the way businesses operate and how customers engage with brands.

The streak of technology-led growth in KSA will enable retailers to provide personalized and immersive shopping experiences. Chatbots, AI-powered assistants, AR, and other such advances will be key to retail growth in the region. The time is ripe for retailers to invest in online platforms, seamless payment systems, and efficient delivery mechanisms to meet customer expectations. Furthermore, the integration of physical and digital channels will become crucial, with retailers adopting omnichannel strategies that provide a consistent and seamless shopping experience across various touchpoints”.

Sunil Nair, CTIO, Cenomi Retail

KSA TECH CURVE IS GROWING

Large business houses and Funds like PIF are powering digital transformation to accomplish KSA’s business goals before 2030

Saudi Arabia’s breathtaking growth story critically pivots around a 360* digital transformation and layered tech deployment. Digital business ecosystems, powered by AI & ML, leveraging big data, deep tech, and immersive AR with fintech capabilities are likely to revolutionize mobile commerce, e-sports, health care, and service businesses. The ability to stay ahead of the tech innovation curve, with a clear eyesight on the Total Cost of Ownership over the lifetime, gives the market a sustainable advantage and an opportunity arbitrage”.

Kartik Bhatt, Chief Digital Officer, Sony MECL

In less than 18 months, Brands For Less has successfully opened the brand’s 25th store in Saudi Arabia, marking a significant milestone for the company.

KSA’s Cenomi Centers reports 64% growth in net profit. The company delivered a strong performance in the first nine months of 2023, achieving SAR1.7 billion in revenue, up 3.3% year-on-year (y-o-y), EBITDA of SAR1,244.1 million up 10% and increase in net profit by 64% y-o-y to SAR1,018.7 million.

Al Nahdi Medical Company announced the preliminary financial results for the period ending 30/09/2023 (nine months) at 212.8 million Riyals.

Phygital noun

/’fɪzɪtl/

The line between physical and online retail space has blurred. Today customers want to traverse across touchpoints seamlessly and interact with retail brands across channels. This gives birth to PHYGITAL spaces at the cross section of offline and online retail.

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