United Arab Emirates Tender

The outlook for Dubais growing e-commerce sector is looking bright as consumers in the emirate continue to turn to digital platforms to access services and products according to retail leaders and experts speaking on the first day of The Retail Summit 2019 in Dubai.The inaugural summit is being organised under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum Vice President and Prime Minister of the UAE and Ruler of Dubai in partnership with Dubai Chamber of Commerce and Industry and Meydan One.The high-level event taking place February 13th-14th is gathering more than 900 industry leaders and experts from around the world who are representing some of worlds most prominent retail brands. A total of 80 global and regional speakers at the summit are sharing their insights and perspectives on key challenges and opportunities facing retailers as well as their outlook for the future of the global retail sector.Addressing delegates at the two-day summit H.E. Hamad Buamim President and CEO of Dubai Chamber noted that the summit offered valuable insights into the realities of the global retail sector and a platform to share knowledge and best practices among prominent industry leaders. H.E. Buamim described Dubai as an ideal destination to host the international event given its reputation as one of the worlds most sought-after shopping destinations as well the strong presence of international retail brands that are present in the emirate.Wholesale and retail commerce are primary economic engines for Dubai contributing to nearly 27 of the emirates GDP while e-commerce stands out as a sector with massive potential for growth poised to expand at a CAGR of 12 in the 2018-2023 period to reach AED 9.7 billion in sales volume by 2023 H.E. Buamim added noting that e-commerce startups are a major source of innovation for Dubai as they are often the early adopters of disruptive technologies such as blockchain artificial intelligence and 3D printing.H.E. Buamim went on to highlight the competitive advantages that Dubai offers international retailers such as the emirates strategic geographic location world-class infrastructure and business-friendly environment. With more than a third of the worlds population only a four-hour flight away Dubai remains a preferred shopping destination for tourists from the Indian sub-continent China Africa and Europe he explained.For his part H.E. Majid Saif Al Ghurair Chairman of Dubai Chamber said The Retail Summit 2019 presents a prime opportunity to showcase the potential that Dubais retail market offers and attract more investment and international brands to the emirate adding that such efforts will help further diversify the economy.Hosting The Retail Summit 2019 reflects Dubais strengthening reputation as a world-class retail hub. By collaborating with our local and international partners at events like The Retail Summit we can create a conducive environment that caters to the needs and future growth requirements of global retailers added H.E. Al Ghurair.Other presentations and panel discussions examined several key trends and factors that are reshaping global retail including growing impact of digital technologies and shifting consumer expectations the role of advertising and social media as a key ingredient for successful marketing strategies the rapidly changing shopping culture and new solutions being adopted by the worlds leading e-commerce players.e-Commerce Balancing Customer Expectations with Technology The session titled New Retail Transform Grow brought together Chieh Huang CEO and Co-Founder of Boxed Bouchra Ezzahraoui Founder of Aurate and Cristina Scocchia CEO at Kiko Milano to discuss the future of retail around the world in light of developments that have shifted most transactions towards digital platforms. Panellists asserted that the customer experience is still the most important factor impacting sales and pointed out that customers who are satisfied will seek out products whether they sold online or in-store.Bouchra Ezzahraoui underlined the importance of identifying consumers needs and preferences to design products that meet their requirements and inspire brand loyalty calling for empowering employees and familiarising them with the companys message. You want to control your pricing strategy you want to control your promotional strategy you want to make sure that the promotions arent going to impact negatively the brand you are trying to create she asserted.The session underlined significant developments that have made same-day delivery possible noting however that this feature is only available for retail giants. Smaller retailers must prioritise the quality of their products to win over consumers who will then be more willing to accept longer wait periods the panellists explained.For his part Chieh Huang noted that delivery services must account for speed and the ability to include multiple shipments up to 10 in a single load which helps consumers save money and doubles sales volume while Cristina Scocchia emphasised that The issue for us is that the way to be successful as a direct consumer brand is to own the data on your customers and focus on that data so that you can give them what they want.Panellists at the session titled Service Experience and The Wow Factor Benchmarking against FB asserted that there is a golden opportunity to upgrade the quality of services by offering a personalised experience for each consumer. Such an objective would require a delicate balance between authenticity and modernity.