The digital shift led by Covid is changing consumer demands as people prefer to go online with their shopping lists.
Business Office, Gulf today
Dubai e-commerce sales are expected to jump 23% to $ 27 billion in 2022, driven by the digital shift led by Covid and evolving consumer demands, which level the playing field, Hamad Buamim, President and CEO of the Dubai Chamber of Commerce. and Industry said Tuesday during their opening remarks at the Retail Summit 2021.
The forecast, based on new market analysis, reflects a major opportunity for retailers across the Middle East and around the world to transform their business models, accelerate digital transformation, and find new ways to innovate and connect. connect with their customers.
The summit, organized in cooperation with the Dubai Chamber of Commerce and Industry and Meydan One, took a closer look at the key trends reshaping the global retail landscape, as well as existing challenges and emerging opportunities. looming on the horizon.
Organized under the theme, Retail’s New and Resilient Future, the summit highlighted e-commerce as a fundamental pillar of the future of global retail. The high-level summit brought together 1,000 participants representing regional and global industry leaders including Amazon, Manolo Blahnik, Mercedes-Benz, Huda Beauty, New Balance, Jimmy Choo, Burger King, L’Azurde, Lulu Group International Mulberry and Fawaz Alhokair. Group Fashion Retail, among others.
In total, 30 stimulating discussions during the two-day event touched on a wide range of topical topics and issues, such as the evolution of luxury in times of crisis, the role of innovation and startups. in the creation of a new retail ecosystem, the dynamic evolution of customer loyalty, sustainable fashion, store design of the future, successes and lessons from market leaders operating in the Middle East, Europe, Asia , in North America and Latin America.
“As we look into the rest of 2021, the deployment of Covid-19 vaccines will be crucial in paving the way for global retail recovery and undoubtedly shaping the economic landscape in the near term. One thing is certain is that the old playbook and the old rules no longer apply, and bold and differentiated actions will be required by retailers if they are to stand out from the competition, ”said Buamim .
The president and CEO of the Dubai Chamber highlighted an improved outlook for the sector for the remainder of 2021, supported by remarkable progress in vaccination campaigns in the United Arab Emirates and other countries, the transformation digital technology, an increase in the production of innovation and an increasing competitiveness of industry players. Referring to the GCC in particular, the region’s retail market is expected to more than double, from $ 24 billion in 2020 to $ 50 billion by 2025, Buamim said.
Further, he noted that the Dubai Chamber’s support for the Retail Summit is part of its efforts to attract international events to Dubai and promote Dubai as a preferred destination for global retailers, adding that the whole thing First Retail Summit held in Dubai two years ago raised the city’s global profile and generated considerable interest among regional and global retailers.
Meanwhile, the Dubai Chamber Sustainability Network’s Road Safety Working Group recently hosted a webinar joined by member companies and industry experts, which raised awareness in the local business community about road safety.
The virtual event, attended by more than 90 participants representing 27 companies from the United Arab Emirates, focused on tips for avoiding distracted driving, identifying and avoiding road hazards and the importance of safety and traffic. ” tire maintenance to prevent road accidents.
The webinar included presentations from Thomas Edelmann, Founder and Managing Director of Road Safety UAE; MS Sridhar, Group HSEQ & Sustainability Manager, Tristar Group; and Khalid Al-Ramahi, Customer Technical Support, Michelin AIM.
Dr Belaid Rettab, Senior Director, Economic Research and Business Sustainability Sector, Dubai Chamber, stressed the importance of keeping the business community informed about road safety issues. He noted that according to the World Health Organization (WHO), around 1.35 million people die each year worldwide as a result of road accidents.
Established in 1965, the Dubai Chamber of Commerce and Industry is a public not-for-profit entity, whose mission is to represent, support and protect the interests of the business community in Dubai by creating a favorable business environment, by supporting business development, and promoting Dubai as a hub for international business.