RETAIL PEOPLE MAGAZINE ISSUE 40 - HORIZONS AWAKEN: CHARTING RETAIL'S TOMORROW

Featuring: AYMAN AL BURTI CEO AZAD PROPERTIES

“I

ALIAT MALL EXPANSION IN NUMBERS:

WELCOME

“The future belongs to those who believe in the beauty of their dreams.” – Eleanor Roosevelt

Welcome to the 40th edition of Retail People Magazine (RPM), a milestone that not only celebrates our journey but also looks ahead to the exciting horizons awaiting the retail world. Our theme for this issue, “Horizons Awaken: Charting Retail’s Tomorrow,” perfectly encapsulates the dynamic and evolving landscape of our industry. As we navigate through unprecedented changes and innovations, it is clear that the future of retail holds limitless potential and promise.

We are thrilled to feature Ayman Al Burti, CEO of Azad Properties, on our cover and as the focal point of our cover story. A visionary leader, Ayman has been at the forefront of transforming retail spaces into vibrant, community-centric environments. His insights into the future of retail, particularly in how physical spaces can adapt and thrive in an increasingly digital world, are both inspiring and enlightening. In this issue, you will find a wealth of articles that delve into various aspects of retail’s future:

DR. YOUNIS AL MULLA

MECS+R Board Chairman

Senior Vice President

Business Devt. - Corporate HO

Majid Al Futtaim Retail Dubai, United Arab Emirates

DUAIJ AL RUMAIHI

Board President | MECS+R

Mall Director, City Centre Bahrain

Majid Al Futtaim Properties Manama, Bahrain

LIZELLE FITOUSSI

MECS+R Board Vice President Director - Marketing

City Walk, The Beach JBR, J1 Beach Merex Investment Group Dubai, United Arab Emirates

DAVID HUESSER

MECS+R Board Treasurer

The Outlet Resource Group (TORG) Managing Director Dubai, United Arab Emirates

MOHAMMAD AL QAED

MECS+R Board Member

Acting Chief Commercial Officer Seef Properties Manama, Bahrain

SAAD ZUBERI

MECS+R Board Member

Executive Director

Lucky Landmark (Pvt.) Limited Karachi, Pakistan

Innovative Trends Shaping Retail: Discover the latest trends that are redefining the shopping experience, from AI-driven personalization to sustainable practices.

The Digital Transformation: Explore how technology is revolutionizing the retail sector, with a focus on e-commerce growth, omnichannel strategies, and the integration of augmented reality.

Customer Experience Redefined: Learn about new approaches to enhancing customer engagement and satisfaction, including experiential retail and the importance of human connection in a digital age.

Sustainability in Retail: Understand the growing emphasis on sustainability and how retailers are adopting eco-friendly practices to meet the demands of conscientious consumers.

Leadership in Times of Change: Gain insights from industry leaders on navigating challenges, fostering innovation, and leading teams through transformative periods.

Our events gallery in this issue highlights the vibrant activities that continue to foster growth and collaboration within our community. We feature the GVS Training event, which spanned three days and provided invaluable learning and networking opportunities.

Additionally, our mall tour at City Walk offered a firsthand look at the latest retail innovations, while the Springboard Networking Event facilitated meaningful connections and idea exchanges among industry professionals. As we chart the future of retail, we are reminded of the resilience, creativity, and adaptability that define our industry. Each article in this issue serves as a testament to the collective effort of retailers, developers, and leaders who are driving change and embracing new opportunities. Brace yourself into latest MENA and International news update regarding the retail landscape. Don’t miss our RECON MENA 30th Anniversary Conference, Exhibition, Networking, Gala Dinner & Awards on 4-5 November at Mandarin Oriental Al Faisaliah Riyadh. Connect with our team and we will be happy to assist and welcome you.

We extend our gratitude to our esteemed sponsors for making this edition possible –AZAD PROPERTIES, HAMAT, KINAN, ALANDALUS PROPERTY, AL OTHAIM INVESTMENT and CENOMI CENTERS.

We hope that “Horizons Awaken: Charting Retail’s Tomorrow” inspires you to think boldly and act decisively as you navigate the evolving landscape of retail. Thank you for being a part of our journey and for your continued support.

Thank you for joining us on this journey.

DAVID MACADAM Chief Executive Officer MECS+R

DUAIJ AL RUMAIHI

Board President | MECS+R Mall Director, City Centre Bahrain

Ayman Al Burti, CEO

Azad Properties

David Macadam Chief Executive Officer david@mecsr.org

Khaye Comanda Finance Director khaye@mecsr.org

Karishma Lakhwani Events & Marketing Manager kari@mecsr.org

Rufaidh Rismin Digital Content and Innovation Executive ruf@mecsr.org

Ace Leonard Marcos

Digital Content & Innovation Junior Executive ace@mecsr.org

Christian Baldonanza Director ian@mecsr.org

Mariz Matocdo Communication & Sponsorship Manager mariz@mecsr.org

Sandhya Rajan Business Development Database Executive sandy@mecsr.org

Marjorie Villo Administrative Support Associate marjorie@mecsr.org

Irene Oximina Membership Executive membership@mecsr.org

MENA RETAIL ROUND UP

52 89% of UAE Retail Shoppers Leverage Digital Tools in Physical Stores

Alandalus Starts Work on $221 million Makkah Retail Development

53 BLACK+DECKER Opens its First Brand Store in the World in Dubai

Dubai to get Dh210 million New Community Shopping Mall

54 Etoile Group Expands Luxury Retail Presence with 11 Openings Across the GCC Region in the First Semester

Mastercard, LuLu Group Partner to Foster Sustainability in Retail Payments

55 Riyadh Set for ‘Phenomenal’ Shopping Boom as Retail Stock to Increase 28% by 2026

Saudi Arabia’s Grocery Retail SectorA Market in Transition

RETAIL AROUND THE GLOBE

56 Africa is Leapfrogging into The Future of Retail

Amazon’s Blueprint for Frictionless Shopping is the Future of Retail

Intelligent

Can We Reframe ‘Retail Therapy’ to Make Shopping a Healthy Experience?

the GCC with Artificial

Best Buy’s New Strategy Includes AI, Holograms, Reimagined Stores and More Circana Value-Driven Consumers Spending On ‘Little Luxuries.’

Miniso Opens Paris Flagship; Eyes 1,000 New Stores in 2024

New Refund Platform Offers Instant Refunds for Online Purchases

57 Ollie’s to Launch its First-Ever Credit Card — With No Late Fees Hike

Retailers Adapt to New Business Models and Changing Shopper Trends

Scent To Château De Versailles How Dior Weaves Culture into Retail

Trent Plans Global Retail Push After Acing It in India

Turkish Lifestyle Retailer Plans GCC Foray

WHSmith Partners With Xiatech to Revolutionize Retail Operations Worldwide

AZAD PROPERTIES INNOVATION APPROACH

TO REDEFINING RETAIL’S FUTURE

Contemplating the perpetually changing retail landscape, I’m filled with a sense of eager anticipation for what the future holds. My experience with Azad Properties and Souq7 has been profoundly transformative, and I’m grateful for the opportunity to recount our journey as we chart the course of this dynamic industry.

Assuming the role of CEO at Azad Properties, I was motivated by a vision to redefine the retail real estate paradigm. Our objective was to craft spaces that harmonized tradition and modernity, sustainability, and innovation,

AYMAN AL BURTI CEO AZAD PROPERTIES

Ayman has 20+ years of experience in asset management, sales, and business development in commercial and residential sectors. Prior to joining AZAD in 20I7, he was the Chief Commercial Officer at AWJ Holding and the COO of Anan Holding. He worked at Kinan International Real Estate Company and Savola Group for IO years.

TRANSFORMATIVE RETAIL ENVIRONMENTS

At Azad Properties, we view retail as more than just a transactional experience – a holistic, immersive journey. This philosophy is the foundation of our work. In conceiving Souq7, we aimed to cultivate a marketplace that seamlessly blends traditional souqs’ allure with modern retail conveniences. Upon traversing Souq7, shoppers can discover a distinctive amalgamation of cultural legacy and contemporary commerce.

We have reimagined our store formats to offer captivating, experiential environments. For instance, our flagship projects feature state-of-the-art malls and integrated market spaces designed to captivate and engage visitors. These spaces transcend the role of mere shopping destinations, serving as vibrant community hubs where people can gather, socialize,

THIS UNWAVERING FOCUS ON CREATING DYNAMIC, ENGAGING RETAIL ENVIRONMENTS IS THE HALLMARK OF OUR WORK AND THE DRIVING FORCE BEHIND

and partake in a rich tapestry of experiences. This unwavering focus on creating dynamic, engaging retail environments is the hallmark of our work and the driving force behind our vision.

Additionally, Souq7 hosts regular events and activities focused on social responsibility and sustainability. The marketplace features open spaces with seating areas and greenery in each zone, providing a pleasant environment for visitors. The hosted events are tailored to the specific zones, ensuring the programming is well-suited to the surrounding shops and atmosphere.

EMBRACING THE POWER OF TECHNOLOGY

At Azad Properties, we are committed to integrating cutting-edge technology into our retail properties. As pioneers in this digital revolution, we leverage innovative solutions to redefine the shopping journey. Our properties

feature AI-powered analytics that provide personalized recommendations, and we utilize augmented reality (AR) to enhance in-store navigation and product visualization.

Beyond the customer experience, our smart building systems optimize energy consumption, and our digital platforms streamline tenant interactions. By blending physical and digital elements, we create immersive experiences that elevate the customer journey and optimize our workflows, setting a new standard for the retail environment. This is why we chose Yardi as our property management technology provider.

The decision to partner with Yardi was influenced by several key factors. Yardi is a specialized ERP solution that aligns with our needs as a property management company, with a reliable track record among major players in the Gulf region. Their direct involvement in the implementation process and global presence made them a suitable choice that ensures compatibility with regional industry standards.

The challenges we faced prior to Yardi centered around effective management practices and reporting capabilities. Yardi’s best practices and flexible reporting features have helped us address these issues, providing better visibility into our operations and enabling more informed decision-making. By adopting Yardi’s proven methods, we have been able to achieve significant business growth, placing us among the top property developers and operators in the region within a short time frame of 5 years.

SUSTAINABILITY AND COMMUNITY FOCUS

Sustainability is a fundamental tenet of our development philosophy at Azad Properties. We recognize the growing imperative of environmental stewardship and are committed to integrating eco-friendly practices across all our projects, including the use of sustainable materials in construction. Our

retail properties feature a reduced volume of buildings and smart systems that optimize energy consumption. Importantly, we also prioritize well-distributed greenery in the outdoor spaces, creating environmentally friendly places that promote sustainability. This holistic approach to green development sets us apart and aligns with our vision of creating vibrant community hubs.

Souq7 stands as a prime example of how we cultivate these thriving community spaces that support local artisans and businesses. These areas are designed to foster meaningful social interactions and cultural exchange, transforming them into more than just shopping destinations. By prioritizing both sustainability and community engagement, we are not only contributing to environmental preservation but also strengthening the social fabric of the communities we serve.

ENVISIONING THE EVOLVING RETAIL LANDSCAPE

Looking ahead, the future of retail brims with boundless possibilities. While the pandemic has accelerated many existing trends, it has also opened up new avenues for innovation and growth. One key trend we observe is the rise of hyper-personalization, where data-driven insights enable us to anticipate and fulfil customer desires with unprecedented accuracy.

The retail landscape is also witnessing an intriguing convergence of various sectors, leading to innovative collaborations and strategic partnerships. At Azad Properties, we are keen to explore these new pathways for growth and diversification. We are embracing the concept of hybrid retail models that seamlessly blend the best of physical and digital worlds, ensuring our spaces remain relevant and engaging.

COVER EXCLUSIVE

Furthermore, as we expand into emerging markets, we are excited about the potential to connect with new consumer bases. These markets, characterized by rapidly growing middle classes and surging consumer demand, present immense opportunities for expansion. By navigating cultural nuances and adapting our strategies, we aim to leverage these opportunities and propel the next phase of our growth.

CONCLUSION:

The evolution of Souq7 continues to be a driving force behind Azad Properties’ transformative approach to retail. As we look to the future, the marketplace remains a shining example of our commitment to blending rich cultural heritage with innovative, sustainable design. Through the integration of cuttingedge technology and an unwavering focus on community engagement, Souq7 has elevated the retail experience, serving as a vibrant hub where people can gather, discover, and connect.

Building upon the success of our initial vision, we are continually enhancing Souq 7 to meet the evolving needs of our customers. New events, activities, and partnerships have breathed fresh life into the marketplace, further solidifying its role as a destination that celebrates local artisans, promotes sustainability, and fosters meaningful social interactions.

As an acclaimed property management company, that fits our requirements as a specialized property management company, we have selected Yardi’s robust ERP system due to its proven reliability, direct implementation support, and compatibility with Gulf region standards. Azad’s commitment to innovation and community guides their exploration of seamless physicaldigital retail experiences tailored to evolving consumer needs,

THROUGH THE INTEGRATION OF CUTTING-EDGE TECHNOLOGY AND AN UNWAVERING FOCUS ON COMMUNITY ENGAGEMENT, SOUQ 7 HAS ELEVATED THE RETAIL EXPERIENCE, SERVING AS A VIBRANT HUB WHERE PEOPLE CAN GATHER, DISCOVER, AND CONNECT.

As we navigate the rapidly changing retail landscape, Azad Properties remains steadfast in our mission to redefine the industry. With Souq7 as a shining example, we are poised to continue leading the charge, crafting innovative, communitycentric retail environments that captivate and inspire. The future of retail is ours to shape, and we are thrilled to be at the forefront of this exciting transformation.

guided by traditional and heritage values, and a commitment to charitable causes.

THE SUSTAINABLE OASIS:

IMALL OF MUSCAT’S COMMITMENT TO ENVIRONMENTAL RESPONSIBILITY

n the city of Muscat, Oman, where the retail landscape is ever-changing, one mall stands out for its steadfast dedication to sustainability: the Mall of Muscat. As traditional marketplaces transition to modern shopping centres, the Mall of Muscat has emerged as a leader in environmental responsibility, setting a new standard for sustainable practices in the region.

At the heart of Mall of Muscat’s philosophy lies a deep commitment to environmental sustainability. Every decision and every initiative is driven by the goal of minimizing its ecological footprint. From the moment shoppers’ step through its doors, they are met with an environment designed not only for commerce but also for conservation.

One of the key pillars of Mall of Muscat’s sustainability efforts is its focus on energy efficiency. The mall has installed state-ofthe-art LED lighting systems, smart HVAC technology, and is on the verge of integrating solar panels throughout its premises. These measures not only reduce the mall’s reliance on nonrenewable energy sources but also contribute to the reduction of greenhouse gas emissions, thus mitigating its environmental impact and also contributing in reducing operating expenses.

In line with its commitment to waste reduction, Mall of Muscat has adopted a Zero to Landfill Waste Management policy. Through this initiative, the mall aims to divert as much waste

HUSSAIN K. JAMAL Acting

MUSCAT

General Manager MALL OF

Hussain K. Jamal is a seasoned shopping centre industry professional who understands the fine nuances of the retail business coupled with practical hands-on knowledge and experience in Shopping Centre Management and Operations. Currently, he heads one of the biggest and most exciting shopping & leisure destinations in the Sultanate of Oman, “Mall of Muscat,” which not only houses many notable international brands but is also home to the Only Public Aquarium in the Country, “Oman Aquarium.”

as possible away from landfills, instead focusing on recycling, composting, and other sustainable disposal methods. Robust recycling programs further reinforce the mall’s dedication to minimizing its environmental footprint and promoting a circular economy.

Given Oman’s arid climate and limited water resources, Mall of Muscat recognizes the importance of water conservation. The mall has implemented innovative water management systems designed to minimize water consumption without compromising on quality or service. By utilizing water-saving fixtures and implementing an efficient Ozone based grey water treatment plant, Mall of Muscat plays a crucial role in preserving this vital resource for future generations.

Beyond its operational practices, Mall of Muscat actively engages with the local community to foster awareness and participation in sustainable practices. Through educational programs, workshops, and community events, the mall seeks to empower individuals to make environmentally conscious choices in their daily lives. Additionally, Mall of Muscat prioritizes ethical and environmentally responsible sourcing, ensuring that the products available align with sustainable principles and support local artisans and businesses.

MALL OF MUSCAT OFFERS A GLIMMER OF HOPE IN OMAN’S RETAIL LANDSCAPE, DEMONSTRATING THAT ENVIRONMENTAL RESPONSIBILITY AND ECONOMIC PROSPERITY ARE NOT MUTUALLY EXCLUSIVE.

As Mall of Muscat continues to expand its sustainable initiatives, the anticipated impact is profound. Not only does the mall expect to see a reduction in operational costs and an increase in customer loyalty, but it also aims to make a positive contribution to the environment and the community at large. Through leading by example and demonstrating that sustainability and profitability can coexist, Mall of Muscat paves the way for a greener, more sustainable future for Oman’s retail sector.

As a final note, Mall of Muscat offers a glimmer of hope in Oman’s retail landscape, demonstrating that environmental responsibility and economic prosperity are not mutually exclusive. Through its unwavering commitment to sustainability, the mall inspires individuals, businesses, and communities to embrace a more sustainable way of life. As Mall of Muscat continues to lead by example, it sets a precedent for the retail industry, proving that sustainability isn’t just a choice—it’s a necessity for the future of our planet.

SHOMOUL HOLDING: A COLLABORATIVE VISION SHAPING THE FUTURE OF RETAIL IN SAUDI ARABIA

Shomoul Holding, established in 2014, stands as a testament to the power of collaboration in shaping the retail landscape of Saudi Arabia. This joint venture, formed by Mabanee, a Kuwaiti real estate leader, Al Fozan, a prominent Saudi retail player, and Alshaya Group, a wellestablished Kuwaiti retail powerhouse, embodies a shared vision for the Kingdom’s retail sector.

Driven by a belief in Saudi Arabia’s potential for retail growth and public-private partnerships, Shomoul Holding is committed to developing innovative retail destinations that cater to the evolving needs of Saudi consumers. This commitment continues the legacy of The Avenues – Kuwait and The Avenues – Bahrain, and is shown in Shomoul’s main projects The Avenues – Riyadh and The Avenues – Khobar.

The Avenues – Riyadh and The Avenues – Khobar projects envision the creation of immersive retail experiences that transcend mere shopping. With a focus on luxury retail seamlessly integrated with world-class entertainment offerings, The Avenues promises to be a landmark development.

The Avenues - Riyadh is set to open in Riyadh, the heart of Saudi Arabia, by the first quarter of 2026. The Avenues - Riyadh location boasts a sprawling footprint exceeding 390,000 square meters, with a dedicated retail area exceeding 370,000 square meters. This expansive space will be meticulously curated into nine distinct retail and entertainment districts, catering to a diverse range of consumer preferences.

Beyond retail therapy, The Avenues - Riyadh offers a holistic lifestyle experience. Luxury hotel towers, including the Waldorf Astoria, Canopy and Conrad by Hilton, provide accommodation for discerning guests. A dedicated residential tower caters to those seeking an urban living experience, while

SHOMOUL HOLDING IS COMMITTED TO DEVELOPING INNOVATIVE RETAIL DESTINATIONS THAT CATER TO THE EVOLVING NEEDS OF SAUDI CONSUMERS.

a state-of-the-art office tower offers a convenient blend of work and leisure for professionals.

The architectural design of The Avenues - Riyadh reflects a thoughtful consideration of its geographic context. The project incorporates elements of the majestic Salmaniya style, a subtle homage to its location in the heart of Najd. This approach ensures a harmonious blend of historical references and modern design sensibilities. Sustainability is also a key consideration, with eco-friendly practices woven into the very fabric of the complex, aligning with the Kingdom’s commitment to environmental responsibility.

The Eastern Province of Saudi Arabia will witness the unveiling of The Avenues - Khobar project in Khobar City, with an anticipated opening in the first quarter of 2027. The Avenues - Khobar will occupy a prominent location exceeding 198,000 square meters and offer a retail area exceeding 167,000 square meters. Eight distinct retail and entertainment districts will provide a captivating experience for visitors. Luxury hotels like the Four Seasons and Canopy by Hilton will cater to guests

The Avenues - Riyadh

CENTRE STAGE BUZZ

seeking a luxurious respite, while office spaces and ample parking ensure a convenient experience for all.

The design of The Avenues - Khobar embraces a modern aesthetic that celebrates the unique character of the Eastern Province. Similar to the Riyadh location, sustainability remains a core principle, with the project incorporating eco-friendly practices that align with Saudi Arabia’s Vision 2030.

Shomoul Holding’s vision, as manifested in The Avenues project, signifies a new chapter in Saudi Arabia’s retail sector. Through strategic collaboration and a commitment to innovation, Shomoul Holding is poised to redefine the retail landscape, creating not just shopping destinations but vibrant experiences that will captivate and engage the Saudi consumer for years to come.

The Avenues - Riyadh

The Avenues - Khobar

The Avenues - Khobar The Avenues - Khobar

ILLUMINATING BEAUTY:

SARA ALRASHID’S JOURNEY TO ASTERI’S ENCHANTED REALMS

Asteri Beauty, the renowned global beauty brand, proudly announces the grand opening of its flagship store in Mall of Dhahran, Al Khobar followed by AlRashid Mall in Abha, Saudi Arabia in the month of May 2024. This momentous occasion marks another milestone for Asteri Beauty as it expands its footprint to four stores in the vibrant and burgeoning beauty market of the Kingdom. Asteri Beauty has already opened their stores in Al Nakheel Mall in Riyadh and the Red Sea Mall in Jeddah.

The visionary behind Asteri Beauty, Sara AlRashid, brings a wealth of expertise and creativity to the brand. With a background in interior architecture and spatial design, Sara honed her skills at prestigious institutions, earning two master’s degrees in spatial and interior design.

Inspired by a passion for beauty and design, Sara envisioned Asteri Beauty as a manifestation of elegance, sophistication, and innovation. Drawing inspiration from the enchanting allure of a fallen star in the desert, all Asteri Beauty stores embody a captivating spirit that transcends conventional beauty retail. Each store is meticulously crafted to evoke a sense of wonder and discovery, inviting customers into a realm where beauty becomes a transformative experience.

SARA ALRASHID CEO Asteri Group

The visionary behind Asteri Beauty, Sara AlRashid, brings a wealth of expertise and creativity to the brand. With a background in interior architecture and spatial design, Sara honed her skills at prestigious institutions, earning two master’s degrees in spatial and interior design.

Asteri Beauty is one of the fastest-growing brands in the Middle East. In the Jeddah store, this vision comes to life through the meticulously crafted facade and light features, which pay homage to the shards of the fallen star. The interior design seamlessly blends elements inspired by the Saudi desert landscape and the vibrant colors from the ASTERI brand. Notably, a striking pop of vibrant blue, inspired by the

ALL ASTERI BEAUTY STORES EMBODY A CAPTIVATING SPIRIT THAT TRANSCENDS CONVENTIONAL BEAUTY RETAIL.

marine life of the Red Sea, adds a captivating dimension to the store’s aesthetic.

For the Riyadh flagship store, Sara found inspiration in the majestic desert landscape and its juxtaposition with the modern metropolis of Riyadh. The store’s design reflects this harmony between nature and

urbanity, with earthy tones and organic textures creating an ambiance reminiscent of a desert oasis of beauty.

The ethereal glow of Arabian pearls traditionally fished in the eastern province, is woven into every detail of the store design, offering a mesmerizing experience that transcends time and tradition. The shimmering essence of pearls blends harmoniously with the desert tones.

Abha store draws inspiration from the vibrant bloom of Jacarandas against the city mountainous landscape. Lush emerald tones, bright amethyst hues and organic textures create an ambiance reminiscent of a peaceful haven of beauty. A lounge area, inspired by the mesmerizing spectacle of stargazing in the desert, provides a serene retreat for customers to indulge in moments of relaxation and sisterhood.

As Asteri Beauty continues to expand its global presence, the opening of its flagship stores over the kingdom underscores the brand’s dedication to empowering individuals to embrace their unique beauty journey and express themselves authentically.

EMBRACING CUSTOMER TRENDS IN THE MIDDLE EAST

As customer confidence returns in the Middle East, GDP is expected to grow more than the global average. Our vision as an international franchise retailer with over 70 brands with stores across all markets in the region is to ensure we keep pace with the changing needs of our customers, with the right brands, stores and people in the right places, and the right online offer as technology advances impact on our business like never before.

The Middle East has always been at the forefront of global retail and for the next few years will continue this trend. The retail sector is developing at a pace. For example, major destinations in KSA – The Avenues Riyadh (2026) and the Avenues Khobar (2027) – are multi-billion-dollar investments in leisure and retail that will redefine the market in the region.

Customer Experience is becoming more destination led and retailers need to continue to change and align themselves to what customers expect, at a pace that is being driven by technology and the expectations of a younger consumer.

We recently opened Alo in Dubai Mall, an amazing store designed to engage customers seamlessly through digital tools. Shoppers can check out on mobile devices or order online with assistance from our team, even for items not in stock. Additionally, the coffee bar adds a warm touch, fostering connections and enriching the overall shopping experience.

The concept of adding experiences into retail is not new, but

JOHN HADDEN CEO Alshaya Group

John Hadden is the CEO of Alshaya Group, one of the world’s leading brand franchise operators. With extensive experience in the retail sector, John has been part of Alshaya’s leadership team for many years. He supported major expansion plans for the Alshaya Group as the business opened new stores, new brands and new operating countries.

with more choices for their leisure time and so limited time to engage with brands, we need to go where customers go – with pop ups, brand experiences, and brand partnerships.

Traditional malls with only stores will see footfall decline, that’s why you’ll see major hotel and leisure destinations in new malls – not just as an add-on, but as part of the appeal of the destination, with world famous leisure brands building relationships with consumers.

With 1 in 3 Gen Z preferring to connect digitally, brands will increasingly need to develop the online experience past a ‘click and order’ model - the changing face of the modern consumer will demand more convenience and

WHEN CUSTOMERS CAN EFFORTLESSLY SWITCH BETWEEN CHANNELS WITHOUT LOSING CONTEXT, THEY FEEL VALUED AND UNDERSTOOD.

flexibility. Online shopping channels will co-exist with traditional locations but become increasingly aligned to give a seamless experience.

No longer is the relationship between online and offline linear - consumers don’t just want to research products online and make purchases in-store. This is more than an omnichannel approach. The future is about meeting the expectations of customers by providing a unified experience when they need it, not when the retailer can provide it.

When customers can effortlessly switch between channels without losing context, they feel valued and understood.

Data is key to delivering this future of retail, and through initiatives such as AURA, our award-winning loyalty programme which has become the largest retail programme in the region with over 8M members, data is the language of this future.

The real value lies in how we utilize the data. Relevant insights help us refine our location strategy, uncover opportunities to introduce new brands, and guide our retail partners in product development, which are vital for driving success.

The debate around the impact of AI continues, but the vast majority of customers will always want to engage with a person - physical stores are still responsible for the majority of sales in our categories. AI can help in customer experience of a brand such as virtual shopping assistants, but automation of complex tasks can be a challenge.

Embracing technologies in the right way will empower businesses to enhance customer experiences in the everevolving digital landscape.

ENHANCING RETAIL OPERATIONS WITH YARDI’S RETAIL MANAGER

IIn the dynamic and competitive world of retail, effective management is key to maintaining an edge. Yardi Retail Manager provides a robust solution that simplifies and streamlines retail property management. Here’s how it can enhance your retail operations:

Comprehensive Lease Administration

Managing leases can be complex, but Yardi Retail Manager makes it straightforward. The platform allows for easy tracking of lease terms, renewals and amendments, including short-term and speciality leases, ensuring you have complete visibility. With a 360-degree view of all leasing activity, you can shorten lead-to-lease lifecycle times. This is particularly beneficial for retail managers handling multiple properties and tenants as it centralises all lease-related information in one accessible location.

Integrated Accounting Features

Financial management is a cornerstone of retail operations. Yardi Retail Manager connects with Yardi Voyager, so you can manage everything from one platform. These integrated accounting features support general ledger, accounts payable and accounts receivable functionalities. This integration ensures that financial data is always up to date, reducing the risk of errors and enhancing financial reporting accuracy. 1

SAID HAIDER Senior Director of Middle East Sales

Yardi

A seasoned executive with over 17-year record of achievement – 11 of which were spent with Yardi – successfully driving multimillion-dollar revenue growth. Leading the sales and business development efforts for the company, his visionary leadership, extensive knowledge of the real estate industry, and passion for technology has helped drive Yardi’s growth across the region.

Advanced Data Analysis and Reporting

Making informed decisions is crucial in retail management. Yardi’s platform offers advanced data analysis and reporting tools that provide insights into tenant performance, space utilisation and financial health. These tools enable proactive risk management as managers gain early identification of potential issues, track and analyse sales data, and identify trends and anomalies. For example, in the tenant dashboard, you can view each tenant’s risk level, if leases are expiring or if a tenant is struggling, and be proactive with managing risk. With these insights, retail managers can make strategic decisions that drive growth and efficiency and reduce risk.

Tenant Management and Communication

Effective tenant management goes beyond collecting rent. Retail Manager facilitates better communication and relationship management with tenants. The solution includes tools for managing tenant requests, processing work orders and tracking interactions, ensuring that tenant needs are met promptly and efficiently.

Space Optimisation

Optimising retail space is essential for maximising revenue. Yardi’s solution helps retail managers analyse and optimise space usage, ensuring that every square foot is used effectively. This can lead to increased tenant satisfaction and higher rental income.

Scalability and Flexibility

Whether managing a small portfolio or a large one, the Retail Manager scales to meet your needs. The platform is designed to grow with your business, providing the flexibility to adapt to changing market conditions and business requirements.

Discover Yardi Retail Manager

Yardi Retail Manager optimises shopping centre revenue by automating key retail metrics and leasing activities. You can improve the customer experience and attract prospects with a solution designed for retail mall operators. By integrating lease administration, accounting, data analysis, tenant management and space optimisation into a single platform, it simplifies operations and enhances efficiency. Retail managers can benefit from streamlined processes, better insights and improved tenant relationships, ultimately driving business success

OPTIMIZATION STRATEGIES FOR RETAIL 4.0

KEY TRENDS SHAPING THE FUTURE

The rapid advancement of new technologies, shifting consumer behaviours, and the global pandemic have collectively driven a seismic transformation for retail 4.0. In this dynamic environment, identifying and prioritizing the key trends and innovations that will define retail’s future is essential for retailers to thrive. Here we identify four key elements that we think will be crucial for sustained growth in the coming decade.

1

The Digital Evolution: More Than Just E-Commerce

One of the most significant and talked about developments in retail is the explosive growth of digital commerce creating a seamless integration of ‘phygital’ experiences driven by advanced technologies and personalized customer interactions. Together they provide customers with a consistent and personalized experience, whether they are shopping in a physical store, on a website, or through a mobile app.

Successful retailers are increasingly leveraging advanced technologies to predict consumer preferences and behaviors more accurately. These technologies enable personalized recommendations and targeted marketing strategies to enhance customer experience and drive increases in sales. Augmented Reality (AR) and Virtual Reality (VR) are increasingly being used to create immersive shopping experiences, allowing customers to visualize new shoes, clothes, furniture or flooring from the comfort of their own home.

The integration of technology is also on the rise in the shopfloor. Innovations like smart mirrors that let customers see how clothes look on them without trying them on, or interactive displays and mobile apps that offer additional product information, reviews, and personalized suggestions.

Sustainability: A Core Business Strategy

Sustainability is becoming an increasingly core business strategy for retailers. Consumers are aware of the

SCOTT RONALDSON Managing Director GORDON BROTHERS

Scott Ronaldson is Managing Director of the Italian and Middle Eastern regions at Gordon Brothers and is responsible for identifying and managing investments across retail, brands, commercial and industrial sectors in Italy and the Middle East, overseeing projects from their inception through to completion.

environmental impact of their purchases (be it raw materials, manufacturing or transportation) and are looking to make more sustainable choices.

In response, many suppliers and retailers are adopting practices that minimize environmental footprints, such as using more eco-friendly materials, reducing waste, and optimizing supply chains to lower carbon emissions. Communicating these initiatives is crucial for retailers to demonstrate a level of responsibility that resonates with their customers and helps build and retain brand loyalty.

A Deeper Experience: The Rise of Experiential Retail

Experiential retail is poised to transform traditional brick-andmortar stores into spaces where customers can engage with brands on a deeper level - creating unique and memorable experiences that go beyond a sales transaction.

Retailers are creating personalized in-store experiences to encourage customers to spend more time in the store and build a stronger connection with the brand. This includes hosting VIP events and workshops and using technology to better understand customer needs and preferences. By doing so, retailers can more effectively target campaigns to the right audience, making the shopping experience more engaging and informative.

Inventory Optimization:

The Heart of Retail Profitability and Growth

Effective inventory management remains the cornerstone for maintaining and growing a thriving retail business. In today’s complex multichannel, multi-territory operations, where retailers strive to be fast and dynamic, achieving this balance has become increasingly challenging to protect margins.

While it may not be an exciting initiative, generating liquidity from slow-moving and obsolete inventory is strategically crucial. This process frees up capital for reinvestment, whether for acquiring new products to drive faster growth and profitability or for funding long-term plans such as new technological initiatives or operational improvements.

Conversely, ignoring slow-moving inventory ties up capital reduces liquidity and occupies valuable space. That ultimately

EMBRACING NEW TECHNOLOGIES, PRIORITIZING SUSTAINABILITY, CREATING DEEPER CUSTOMER CONNECTIONS AND OPTIMIZING INVENTORY AND LIQUIDITY WILL BE KEY.

incurs additional costs for storage, insurance, and potential obsolescence stifling growth and operational efficiency.

Conclusion

As we look to the horizon, the future of retail is full of potential and promise. Embracing new technologies, prioritizing sustainability, creating deeper customer connections and optimizing inventory and liquidity will be key. Retailers have an opportunity to create engaging experiences, respond to consumer expectations, and better navigate the challenges and opportunities that lie ahead. The retail landscape of tomorrow needs to be one that is more interconnected and efficient, innovative, responsible and customer-centric.

ARTIFICIAL INTELLIGENCE (AI): BUZZWORD OR BUSINESS OPPORTUNITY?

Artificial Intelligence (AI) is revolutionizing industries by enhancing innovation, optimizing processes, and improving customer experiences. Despite its potential, many businesses are hesitant to fully embrace AI due to concerns about job losses, costs, and the unknown implications of advanced technology. This hesitance is often rooted in a lack of education and understanding.

To bridge this gap, businesses should benefit from educational AI services that demystify AI and help them harness its potential for success. AI simulates human intelligence processes like learning, reasoning, problem-solving, perception, and language understanding, with the goal of enhancing businesses through technology rather than replacing humans with robots.

Educating employees on AI’s capabilities and applications is essential for unlocking its full potential. By partnering with AI experts and consultants like Heartatwork, businesses can develop strategies aligned with their goals and capabilities, requiring a shift in mindset but offering significant benefits. Embracing AI as a tool for innovation through automation, data analysis, and predictive modelling can provide a competitive edge.

WILL ODWARKA Founder & CEO Heartatwork Hospitality Consulting

Will has 30+ years’ experience in global F&B strategy and growth. With over 1000+ outlets opened for brands like McDonald’s and Starbucks and experience in over 40+ countries, he specializes in international market entry, brand scouting, AI in hospitality, and is also a lecturer and trainer in Dubai. Additionally, also operator of Mozart Hospitality overlooking concept operation and development.

AI’s strength lies in its ability to quickly and efficiently analyse vast amounts of data, enabling data-driven decision-making, process optimization, improved customer experiences, and predicting future trends. Industries like healthcare, finance, and retail can benefit from AI applications such as analysing medical images, detecting fraud, predicting consumer behaviour and optimizing spaces, and utilizing parking better.

By investing in a holistic approach, committing organizationally, embracing change, and being open to innovation, businesses can unlock AI’s full potential and lead the pack in an AI-driven future. It’s time to move beyond just acknowledging AI to taking action and seizing the endless opportunities it offers. Partnering with an educational AI service can help businesses understand how their data can enhance their bottom line and ensure

AI isn’t just a buzzword but a vital element of their future success.

THE FUTURE OF RETAIL IS INTELLIGENTLY ARTIFICIAL

NOT ARTIFICIALLY INTELLIGENT

Imagine Mohamed, a loyal customer at his favourite shopping centre, entering a well-known consumer electronics store with the excitement of purchasing a new TV. As he approaches the sales representative, he is greeted with the usual, “How can I help you?” Once Mohamed expresses his intent to buy a TV, the employee bombards him with a series of technical questions: “Would you prefer 4K or 8K? OLED or QLED? A curved screen perhaps?” Mohamed, feeling embarrassed and overwhelmed, realises he has no idea how to answer these questions and considers postponing the purchase or simply checking online as he’s having the same impersonal experience. This scenario, though common, highlights a significant gap in the retail experience—one that intelligent use of technology can bridge.

In our recently published book, “Redefining Retail: 10 Guiding Principles for a Post-Digital World”, Professor Philip Kotler and I argue that one of the most crucial guiding principles for modern retailers is to “Be Invisible.” This means that every interaction with customers should prioritise making their lives easier. It is not the customer’s job to know all the intricate details about the products or services they seek. Retailers should aim to

DR. GIUSEPPE STIGLIANO Professor of Marketing UCL School of Management

Giuseppe Stigliano is a marketing professor, global keynote speaker, and senior advisor on Corporate Innovation, Leadership, and Marketing. Recognised by Thinkers50 as a top global thought leader, he has co-authored three business books with Philip Kotler. As CEO of international marketing firms, he partnered with over 300 companies globally.

eliminate hassle, foster empathetic relationships, and adapt their interactions based on the customer’s level of familiarity with the product. Retail professionals should serve customers, not the other way around.

One might think this has always been the case, but our research, involving interviews with 165 CEOs across various industries, reveals that the principle of “Be Invisible” is especially critical today for two main reasons. First, the sheer number of alternative options available to consumers is overwhelming, leading to decision fatigue and the so-called paradox of choice. Second, the advent of Generative AI (GenAI) is poised to revolutionise the customer journey, adding new layers of information asymmetry between buyers and sellers, and potentially paving the way for more complexity—along with new opportunities. In this new landscape, the final step—the visit to a store or shopping centre—becomes an even more

critical touchpoint. Here, the balance between leveraging intelligent technology to augmenting the capabilities of sales representatives and the human ability to empathise, inspire, excite, and reassure customers will determine who wins and who loses in the retail arena. Winners will figure out how to intelligently leverage emerging technologies such as Generative AI in ways that empower employees, for example, by informing them about customer preferences or suggesting ideal cross-sell opportunities based on customer behaviour.

There is no such thing as true Artificial Intelligence. The concept is built on an oxymoron. The fact that computers or algorithms can perform tasks once solely done by humans does not make them intelligent; it makes them useful co-pilots. These technologies allow humans to delegate more tasks and focus on value-added activities such as distilling an organisation’s vision, inspiring colleagues with new ideas, establishing emotional connections, interpreting human behaviour, and adapting to the room’s dynamics.

Paradoxically, by freeing professionals from repetitive and sometimes alienating tasks, a powerful technology like Generative AI can make humans more empathetic, more authentic, and more human as they can fully

THE FACT THAT COMPUTERS OR ALGORITHMS CAN PERFORM TASKS ONCE SOLELY DONE BY HUMANS DOES NOT MAKE THEM INTELLIGENT; IT MAKES THEM USEFUL CO-PILOTS.

focus on what they do best. At the same time, it can enhance efficiency and productivity. Is this too good to be true? Well, yes and no. The outcome depends entirely on how today’s leaders and managers design the boundaries within which this powerful, invisible enabler operates and, on our ability, to strike an intelligent balance between high-tech and high-touch.

Retailers must understand that the future is not about being artificially intelligent but intelligently artificial. This means using technology not to replace human interaction but to enhance it. Generative AI and other emerging technologies can work behind the scenes to provide sales representatives with insights and suggestions tailored to each customer’s unique needs. This allows the human staff to focus on building rapport, understanding customer preferences, and offering personalised advice without overwhelming the customer with technical jargon.

As Mohamed stands bewildered in front of an amazing array of TVs, an intelligent system could quickly analyse his past purchases, preferences, and needs to suggest the best options. The sales representative, equipped with this information, can then guide Mohamed through the decision process with ease and confidence, making the shopping experience seamless and enjoyable, and making customers feel valued and understood.

The leaders who recognise and act on this fine but relevant line will define the future trajectory of our industry.

CAN WE REFRAME ‘RETAIL THERAPY’ TO MAKE SHOPPING A HEALTHY EXPERIENCE?

Our New Priorities of Health and Wellness Today, health and wellbeing have become a higher priority and a more significant part of people’s daily lives and we are increasingly using our downtime to engage in healthy practices.

Our evaluation of what health is has changed and we now have a more holistic view of what constitutes health. Factors such as diet and stress have never been more topical as people scramble to understand what builds their armoury to be healthy.

There is also a wider societal appreciation of good mental health and a greater understanding of the difficulties many face. These new values are another thread of human empathy and like other social issues, consumers will make health a brand affiliation that will drive future purchasing decisions.

A healthy retail experience

What about leaving a retail store healthier than when you entered it? Could shopping be re-framed as a healthy activity? Could we create a different incentive to shop? As health markers become more objectively measurable, imagine measuring your activity or step count as you shop. You leave a store with a new product you love, but also with an understanding of how many calories you’ve burned in the process and what this means for your health. How can stores promote a healthier shopping experience? Stores could be promoting ‘no escalators’ in stores, encouraging more customers to take the stairs. Perhaps brands

IAN JOHNSTON Founder & Creative Director Quinine Design

Ian Johnston is the Founder and Creative Director of Quinine, a leading strategic retail design consultancy devoted to the power of design to drive innovation and growth. The consultancy helps brands create world-class social, cultural and commercial experiences that enrich and delight their customers’ everyday lives.

could incentivise being healthy by providing discounts to people walking to the store rather than offering free parking. Stores commonly offer complimentary coffee and water, but what about vitamins or other health supplements? As a starting point, biophilia should be integrated into store design where possible; daylight, plants, and fresh air are all solutions to greater holistic health in retail. With a meditative state proven to have healing properties and lower stress, imagine future instore experiences that induce alpha-brain waves.

Many brands like Nike are offffering customers interactive transforming experiences as an extension of their brand values

Photo Credits: Hovercraft & Nike

Self-development through retail

We’ve already seen a rise in transformative experiences in stores - both mental and physical, but usually, they exist in the domain of education or skill development. For example, a customer can leave an Apple store with improved drawing skills or product expertise. Customers’ understanding of what can be experienced in a retail store will continue to expand. They will increasingly want to get the most out of their products and enjoy brand benefits from interactions and activities embedded in the store experience.

Can we view shopping as meditative?

We understand the health benefits of a walk in the park. So, if we can design the shopping experience well, we can reframe the way we think about it. How can we bring ‘Retail Therapy’ to life so we can understand and value the emotional rewards of shopping? What is the value of discovery? Or of an ephemeral sensory experience? Somewhere between functional convenience and frictionless retail, we have lost sight of the value and benefits that shopping can add to our daily lives. Shopping can be such a rich experience, we can socialise,

RETAIL WILL NEED TO PROVIDE TRANSFORMATIVE EXPERIENCES MORE THAN EVER IF WE WANT TO IMPROVE OURSELVES WHILE SHOPPING.

learn, discover, or escape. Currently, retail-marketing focuses on value and price – it’s never about healthy experiences. Retail will need to provide transformative experiences more than ever if we want to improve ourselves while shopping. Brands have the power to change the way people view their store experiences, and retail designers have an opportunity (perhaps an obligation) to change the way we perceive shopping.

The idea of ‘health’ will be at the forefront of brand benefits, and this will come to life within retail environments and experiences. Brands will be asking, how can shopping improve customers’ health and wellness? A key component will be viewing retail in a different light, focusing on the more positive, new-found aspects of retail therapy.

For more info, visit www.quininedesign.com

Biophilic design is becoming more common in retail stores and brands understand the value in experiences that promote psychological wellbeing. Brands such as Apple, Innisfree and Anthropology feature high ceilings, natural light and greenery in their stores.

Photo Credits: Apple

The best physical experiences evoke our senses. Stores that harness multisensory experiences allow us to escape. The Casper Dreamery allows customers to book in sessions of restorative sleeping.

Photo Credits: Casper

Photo Credits: Innisfree

CREATING LIFE-LED SHOPPING DESTINATIONS

RETHINKING THE ROLE OF RETAIL FOR TODAY’S CUSTOMER

In a rapidly changing world, the retail industry stands at a crossroads, compelled to explore deeper, more meaningful connections with consumers. The tide of e-commerce, coupled with shifting lifestyle priorities, demands a bold reimagination of urban spaces. Yet within this upheaval lies a golden opportunity: to breathe new life into retail destinations, transforming them into vibrant sanctuaries of experience, well-being, and community.

The following themes that we see developing are linked by a common thread: what really makes us human. In these new experiences we see a shift towards life-enrichment, transcending the mundane and embracing joy, wonder and authentic fulfilment.

At I-AM, we are aiming to bring wonder back into retail destinations by recapturing our innate human desire to transcend the norm. We want to create AI inspired dreamscapes that move the soul, indulging in pleasure for pleasure’s sake through new forms of artist creations, technological innovations and inspiring performance. The

JON BLAKENEY Group Partner & Managing Director I-AM

Jon is a serial entrepreneur, a foodie, a horseman and a designer of highly compelling brand experiences. Jon believes that customer experience lies at the heart of business success and great experiences drive brand advocacy.

work by Berlin based artist and designer, Anna Cwik typifies this approach. Her imaginary environments transport visitors to colourful, dreamy worlds using AI technology to create scenes of other worldly wonder that exemplify imagination and creativity. We say, it’s time to start Re-Wondering.

TO ENGAGE CONSUMERS EFFECTIVELY DOESN’T ALWAYS REQUIRE GRAND GESTURES AND LARGE-SCALE STRATEGIES.

Sustainability is more important than ever and brands are finding ways to create value from waste, promoting a circular economy. In itself this approach has potential to stimulate wonder, admiration and respect in ways. The new waterfront district in Jeddah also exemplifies this trend by taking a disused desalination plant and turning it into a new Thomas Heatherwick designed home for craft, ateliers, studios, public exhibitions and large-scale art commissions. The project will play a major role in the city’s transformation from its fossil fuel past to a new economy focused around creativity, helping to release the potential of its young population.

Another major trend that we are seeking to embrace within our design of retail spaces is the role of Integrity in celebrating originality, cultural individuality, and historical roots. The Diriyah project, located on the outskirts of Riyadh in Saudi Arabia, is a great example of the shift towards developments with more

integrity and local cultural relevance. This multifaceted retail and leisure initiative aims to sensitively revitalise this historic area, using traditional techniques, while simultaneously fostering economic growth and cultural development.

However, to engage consumers effectively doesn’t always require grand gestures and large-scale strategies. The trend we call MicroDosing of Joy emphasises the significance of small moments of delight in enhancing the customer experience. The integrating of these moments within a retail experience can foster exploration beyond typical preferences. At I-AM we see this trend as a great opportunity to spark creativity throughout the customer journey, prompting positive word-of-mouth and social surprises.

In conclusion, the overall approach that we always recommend is to consider people first when creating the shopping malls of the future, because the current one-dimensional mall model is failing to engage with large parts of people’s lives. By truly understanding how people are living their lives and what they want from retail locations, brands can start to build LifeLed destinations that can possibly include many of the key ingredients, mentioned above.

I-AM, is a global design agency with a presence in London, Istanbul, Dubai, Riyadh, and Jakarta. We are uniquely positioned to understand and cater to diverse customer preferences. Our knowledge spans continents, allowing us to draw insights from various cultures and industries. Our approach is holistic, focusing on creating strong brand identities and memorable physical and digital customer experiences.

Al Dawaa Pharmacies, KSA

AI - Innovation Nike Air 720 Installation - Istanbul / Türkiye

Turkcell Flagship Store, Istanbul, Turkey

TRANSFORMING THE GCC WITH ARTIFICIAL INTELLIGENCE

AI-POWERED BUSINESS INNOVATION FOR THE MIDDLE EAST AND BEYOND

SHAH KARIM CEO SafeRock

Shah Karim is the CEO of SafeRock. He was selected as a ‘Digital Transformation Thought Leader’ by IRI whose members include BASF, Boeing, Chevron, Dow, DuPont, Eastman, GE, and Henkel, among others. Shah has deep experience with strategic, M&A and digital transformation in the consumer, industrial, e-commerce, food, retail, education, chemical, and energy sectors. He advises companies ranging from Fortune 500 enterprises to Private Equity and innovative VC firms.

Artificial Intelligence is revolutionizing the way corporations operate by offering unprecedented opportunities to improve decision-making. AI has the potential to streamline operations and helping business leaders and policy-makers make more informed decisions. Corporations can use this approach to boost productivity, get closer to the customer, and increase company value.

The future of AI in the KSA’s mall and consumer sector looks incredibly promising, with the Kingdom making significant investments to become a global AI powerhouse. In the near future we are likely to see accelerated adoption of AI technologies in the retail sector, leading to more personalized shopping experiences, optimized inventory management, and enhanced operational efficiency. As the Kingdom continues to diversify its economy under the Vision 2030 initiative, we can expect to see more innovative AI applications across multiple sectors.

AI MARKET MIX

1. Broader Industry and Policy Insight:

The GCC and Saudi Arabia’s business landscape - including consumer, energy, and petrochemicals - is poised for a significant transformation, and I am confident that SafeRock’s hands on project experience and strategy vision can help the Kingdom emerge as a leader with AI-powered innovation for the Middle East and beyond. AI will accelerate growth for KSA and GCC’s mall and consumer sector. This also impacts real estate, industrial, energy, and petrochemical sectors

This looks incredibly promising, with the Kingdom and UAE making significant investments to become global AI powerhouses. There is agile national leadership in these countries and at their leading companies like Aramco and ADNOC. The sovereign funds like ADIA, Mubadala, and PIF are showing the way with investment insights. As we move closer to Vision 2030, we will see AI-driven demand forecasting, price optimization, and even fully automated warehouses. Management, shareholders, and Boards must be able to look around the corner and establish clarity on growth plans while keeping both the customer value proposition and the company’s financial runway in mind.

Climate risk is more pronounced than ever. AI can help us lower energy use and reduce carbon emissions with smarter systems that use better science and technology. This helps address today’s challenges of climate change and resource scarcity.

2. In Depth Analysis:

The role of AI can best be appreciated with real-life projects such as SafeRock has completed with Fortune 100 companies, oil and gas companies, and strategic growth for global consumer, brand, and electronics firms. We have reduced cost overruns and converted cost centers to profit centers. We have helped companies make more scientific, accurate decisions, reduce working capital, and increase profits.

Our projects helped with better capital allocation for oil and gas sector companies - useful for countries like KSA, UAE, Qatar, and Oman. These can be used to better predict oil and gas output in the GCC countries, especially energy and petrochem companies with more efficient production forecasts (76% more accurate than Wall Street) and reservoir estimation which is relevant for asset valuations and market cap.

3. Actionable Takeaways:

Management teams must be able to look around the corner and establish clarity on growth plans while keeping both the customer value proposition and the company’s financial runway in mind. As a strategic partner of Private Equity, Fortune 50 corporations, and private family companies, we along with leadership can help create greater value and make the most of the potential AI has for business operations and beyond.

As Artificial Intelligence transforms the GCC and KSA, MECS+R provides unyielding sector leadership for the region, its business leaders, brands, and malls. We are glad for MECS+R members to connect with us at SafeRock, and we invite you to discuss how we can enhance your results for this decade and after.

A JOURNEY OF INNOVATION AND ACHIEVEMENT IN SHOPPING CENTRE LEASING

My journey into the world of shopping centre leasing commenced in Egypt with Majid Al Futtaim, I then moved with MAF to Dubai, at a time when Dubai was rapidly transforming into a global hub for commerce and leisure. I found myself drawn to the world of retail, hospitality, and community that defines shopping centres.

Over the years, I witnessed firsthand the evolution of retail in Dubai—from two or three famous malls that are constantly changing to meet customers’ growing needs for shopping and entertainment to Malls that are not just places to shop, but destinations on their own. Each shopping centre I worked in became a reflection of its city’s diverse landscape, offering a variety of brands, cuisines, and experiences that cater to residents or tourists depending on the asset.

Of course, navigating the leasing landscape in GCC and MENA has not been without its challenges. Economic cycles, global trends, the pandemic and shifting consumer behaviours have all shaped the flow of the retail sector. Yet, it is precisely these challenges that have fueled innovation and creativity, pushing shopping centres to adapt and reinvent themselves continually.

One of the most enriching aspects of my experience has been embracing the diversity that Dubai embodies. Each shopping centre I’ve worked with has its own unique identity, reflecting the cultural mix of the city. From luxury boutiques at The

Alia Metwally is a seasoned retail leasing professional with over 15 years of experience in the GCC and MENA region. Currently, she serves as the CEO & Founder of Spark Management Consultancy. She has 15 years of experience in shopping centre leasing. Alia has worked with major landlords across Egypt and the GCC, specializing in retail, hospitality, and community spaces. She has navigated the evolving retail landscape, embracing technology and innovation to create vibrant, customer-centric destinations in the GCC and MENA region.

ALIA METWALLY CEO & Founder Spark Management Consultancy

Galleria in Abu Dhabi to bustling family-friendly malls such as Doha Festival City and Dubai Festival City, touristic and entertainment-focused malls like Nakheel Mall and a highend community of its own like DIFC, every leasing endeavour has allowed me to connect with different communities and understand their distinct needs and aspirations.

Technology has been a transformative force in the leasing landscape. Digital platforms, data analytics, and virtual reality have revolutionized how we showcase spaces and engage with prospective tenants. What was once a handshake, and a site visit has evolved into a sophisticated, data-driven process that ensures every square foot is optimized for maximum impact and return on investment.

I believe that a successful retail leasing professional should have an eye for emerging brands and can assess if a new to the market or a local brand is worth a chance between global brands. Each tenant brings a unique story and vision, and it is immensely gratifying to see their businesses thrive within the vibrant ecosystem of shopping centres.

As I reflect on the past 15 years, I am filled with excitement for the future of shopping centres in the region. The GCC and MENA continue to push boundaries with ambitious projects promising new opportunities for innovation and growth. The retail sector is evolving rapidly, and I am eager to embrace emerging trends such as experiential retail, sustainable practices, and seamless omnichannel experiences.

TECHNOLOGY HAS BEEN A TRANSFORMATIVE FORCE IN THE LEASING LANDSCAPE.

Leasing shopping centres in the GCC and MENA has been more than a profession; it has been a journey of discovery, growth, and resilience. As I look ahead to the next chapter, I am grateful for the experiences, relationships, and lessons learned along the way.

I believe any shopping centre can be successful if you understand your audience and put the consumer at the centre of the experience you are tailoring for them, understand their needs and what would make their lives easier and happier.

At Spark Management Consultancy, I aim to unlock each asset’s potential to make sure it offers customers the ultimate experience whether in shopping, entertainment, hospitality or innovative experiences.

INSPIRE & ACHIEVE

TURNING VISION INTO ACTION

For the first time in 28 years, I am sharing the story of how I began my journey in the retail industry. In 1996, I entered the retail industry full of ambition and armed with a diploma. My first project in Tehran taught me invaluable lessons that shaped my future. Realizing the need for further education, I returned to university after 15 years, driven by a professor’s encouragement. I had always dreamed of owning a shopping mall, but with limited funds and a background in IT, I pivoted to creating an online shopping mall with some of my classmates.

In my first 15 years in retail, I focused on electronic products, transitioning from employee to entrepreneur. I founded Nasser Shahverdi Trading Co. and several companies in food, audio, video, and decoration with friends. Travels to Turkey, UAE, and China introduced me to international markets, and I became a sales agent for various products between Iran and the UAE, including buying Panasonic products from Al Futtaim Group.

One key insight is that without implementation, an idea remains a dream. Initially, unsure about my online shopping mall concept, my passion for IT and online business drove me forward. We launched 7 Bazaar’s Instagram as a news portal, later transitioning to online sales, starting with books and adding various brands. Despite the challenges of building an online presence and shifting from face-to-face sales, we persevered.

Turning an idea into a successful business requires belief and perseverance. I transformed my university thesis into a thriving enterprise by collaborating with brands, attending

NASER SHAHVERDI Founder & CEO

With a dynamic career over three decades, Naser brings a wealth of experience from various industries. He is a visionary leader with a background in computer science and AI. He has leveraged his expertise to create Aria Mall, a revolutionary platform redefining the online shopping experience. His dedication to innovation and customer experience positions him as a key player in the future of retail.

industry events, and networking with successful individuals to understand the online business model’s benefits and challenges.

Even top physical shopping centres like Dubai Mall face limitations in hours and space. In contrast, online shopping centres, enhanced by AI, offer unmatched convenience. My studies in AI, MBA, and DBA retail programs expanded my industry vision. Continuous learning is crucial in today’s economy.

For Gen Z and Alpha, technology offers unprecedented opportunities. Transitioning from employee to entrepreneur is challenging but rewarding, requiring hard work and learning.

Aria Mall

INSPIRE & ACHIEVE

Motivation must pair with action, as both failure and success drive growth.

One memorable project was when Huawei in Iran asked me to provide the best audio and video accessories for their equipment renewal, which was successfully completed. Starting and maintaining an online platform comes with challenges, such as fluctuating prices and stock management. Unlike brick-and-mortar shops with fixed hours, online businesses require 24/7 customer service across multiple channels, maintaining consistent quality.

Understanding customer preferences and ensuring timely delivery are critical for online retail success. Social media channels facilitate direct customer connections, helping us meet their needs even if we don’t have a specific brand or product. Our business started as a family venture and continues to thrive in that model, a common practice in the MENA region.

Over the past decade, my friendship with Shahrokh Keshavarz, the regional representative of MECS+R in Iran, has significantly expanded my network. Attending the Retail Congress MENA 2023 in Dubai was a wonderful experience. Recently, my university professor and I established a general trading company in Dubai, focusing on the UAE market, starting with Aria Mall.

I BELIEVE ONLINE MALLS CAN EFFECTIVELY SERVE CONSUMERS WITH A WIDE RANGE OF GOODS AND SERVICES.

Reflecting on the past and looking towards the future, I believe online malls can effectively serve consumers with a wide range of goods and services, transcending geographical boundaries. Innovations like AI, the Metaverse, and new gadgets enhance the shopping experience, combining entertainment and convenience. Customer loyalty hinges on competitive pricing and exceptional service, necessitating constant engagement with their needs.

As we continue to navigate the ever-changing landscape of e-commerce, our unwavering dedication to putting people at the heart of our digital journey will guide us towards even greater achievements. Together, we will shape the future of online retail, one human connection at a time.

From the Frontlines

MARCELLO LARIZZA

MANAGING DIRECTOR

Pradera Vindico Real Estate

“Be bold, trust your skills, and learn something new daily.”

INTRODUCE YOURSELF AND YOUR ROLE IN THE RETAIL INDUSTRY.

As the Managing Director of Pradera Vindico, a Retail Real Estate Asset and Property Management Company, I’ve been immersed in the vibrant world of retail. My journey began with a profound fascination for its dynamic nature and constant evolution. Retail, to me, transcends mere commerce; it embodies art, innovation, and human interaction, making every day in this industry an exciting journey.

WHAT INSPIRED YOU TO PURSUE A CAREER IN THIS FIELD?

My Italian heritage instilled in me a deep appreciation for the artistry of retail, where culture, design, and lifestyle intersect. Italy’s rich legacy of craftsmanship and aesthetics profoundly influenced my perspective, igniting a passion to be part of this dynamic ecosystem.

WHAT IS THE MOST CHALLENGING OBSTACLE IN YOUR CAREER AND HOW DID YOU OVERCOME IT?

Navigating cultural differences while developing malls in different countries presented significant challenges. I relied on guidance from mentors and cultivated sensitivity to cultural nuances. Building diverse teams, employing flexible strategies, and effective communication were key to overcoming this obstacle.

WHAT RECENT TREND IN RETAIL EXCITES YOU, AND WHAT IMPACT DO YOU THINK IT WILL HAVE ON THE FUTURE?

The trend of reimagining malls as multifaceted destinations is particularly thrilling. Transforming these spaces into more than just shopping centres, they now offer immersive experiences in entertainment, dining, and culture. This trend not only enhances convenience and personalization through technology but also prioritizes sustainability and wellness, shaping the future of retail into dynamic lifestyle destinations.

WHAT PERSONAL QUALITIES HAVE DRIVEN YOUR SUCCESS, AND CAN YOU SHARE A SPECIFIC INSTANCE WHERE THEY MADE A DIFFERENCE?

My ability to interact with diverse cultures has been paramount. Understanding cultural nuances enabled me to build trust with investors, fostering positive relationships that facilitated successful project delivery. This experience highlighted the significance of cultural competency and interpersonal skills in achieving success across diverse environments.

WHO HAS BEEN THE MOST INFLUENTIAL PERSON IN YOUR CAREER, AND WHAT VALUABLE LESSON DID YOU LEARN FROM THEM?

Throughout my journey, I’ve been fortunate to learn from various experienced professionals across different industries. Their diverse perspectives have shaped my approach to work and contributed significantly to my growth as a professional.

WHAT KEEPS YOU MOTIVATED AND HELPS MAINTAIN A POSITIVE OUTLOOK DURING TOUGH TIMES?

Remembering my goals, relying on the support of friends and family, and celebrating past achievements help me stay motivated and positive, even during challenging times.

WHAT LEGACY DO YOU HOPE TO LEAVE IN RETAIL AND WHAT ADVICE DO YOU HAVE FOR ASPIRING PROFESSIONALS?

My goal is to leave a legacy by mentoring the next generation of retail professionals, and imparting knowledge and expertise to pave the way for their success. My advice to aspiring professionals is to embrace cultural diversity, foster meaningful relationships, and stay resilient in the face of challenges, as these are essential ingredients for success in the dynamic world of retail.

From the Frontlines

SANTOSH BHATIA

DIRECTOR Aura Avenues LLC

“The true measure of leadership is not how you handle success, but how you manage adversity.”

BRIEFLY INTRODUCE YOURSELF AND YOUR ROLE. WHAT INITIALLY DREW YOU TO RETAIL?

I am Santosh Bhatia, Director at Aura Avenues, with over 26 years in retail. My journey began in 1998 with Alshaya and continued with the Apparel Group in 2004, where I rose to Vice President - UAE. My transition from hospitality to retail in 1997 with Alshaya marked the start of my career journey in this dynamic industry. I’ve thrived on strategic planning, operational execution, and customer engagement. Throughout my career, I have found immense satisfaction in driving growth, nurturing teams, and influencing the UAE retail landscape.

TELL US ABOUT A SIGNIFICANT TURNING POINT IN YOUR LIFE OR CAREER.

A major milestone in my career was moving from Retail Operations and Brand Management to Head of Property GCC, allowing me to apply my expertise more strategically. In this role, I led business development, negotiated leases, and enhanced our real estate portfolio. In 2021, I was promoted to Vice President - UAE, recognizing my contributions and providing the chance to lead with a strategic vision. These advancements have shaped my professional journey, offered new challenges and growth, and contributed to my success as a retail executive.

HOW HAVE YOU SEEN THE RETAIL LANDSCAPE CHANGE THROUGHOUT YOUR CAREER?

Throughout my career, I’ve witnessed profound changes in retail. In 1998, brickand-mortar stores dominated. With tourism and technology advancements, the UAE’s retail sector evolved, blending sophisticated malls with e-commerce. Online shopping reshaped consumer behavior, making technology essential for inventory, supply chain, and marketing. Sustainability and social responsibility have also become crucial to consumers.

WHAT VALUES GUIDE YOUR SUCCESS? SHARE AN EXAMPLE OF HOW THESE PRINCIPLES INFLUENCE YOUR DECISIONS IN BUSINESS AND LIFE.

The values that guide my success in both my professional and personal life are hard work, humility, loyalty, and integrity. These principles shape my decisions by emphasizing honesty, respect, and empathy, fostering trust and strong relationships with colleagues, partners, and customers, both in and outside of the workplace.

DID A MENTOR OR EXPERIENCE SHAPE YOUR LEADERSHIP STYLE?

My leadership style has been profoundly influenced by mentors and career experiences. Key mentors taught me strategic thinking, adaptability, and collaboration, leading me to set clear goals, empower teams, and embrace change. This blend of mentorship and experience has made my leadership strategic, collaborative, and customer-centric, driving effective results in the competitive retail landscape.

HOW DO YOU MAINTAIN A WORK-LIFE BALANCE AND FIND INSPIRATION OUTSIDE OF WORK? WHAT POSITIVE IMPACT DO YOU HOPE TO HAVE ON THE INDUSTRY’S FUTURE?

Balancing work and life as a retailer can be challenging, but I prioritize family, hobbies, and self-care to recharge and stay inspired. I find inspiration from traveling, reading, and community engagement. I am committed to fostering innovation, inclusivity, and supporting local businesses in the retail industry.

MARKETING EXCELLENCE AWARD

Celebrates strategic marketing initiatives that drive engagement, enhance brand awareness, and deliver measurable results for shopping centres and retailers.

RETAIL EXCELLENCE AWARD

Recognizes outstanding retailers across various sectors who demonstrate commercial success, innovation, and a commitment to exceptional customer experiences.

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NOVEMBER | SAUDI ARABIA

MANDARIN ORIENTAL AL FAISALIAH HOTEL

NOI ENHANCEMENT AWARD

Honors innovative programs that directly enhance the net operating income of a retail property or store through new revenue streams, cost control measures, or both.

RETAIL STORE DESIGN AWARD

Celebrates innovative and effective store designs that enhance customer experience, reinforce brand identity, and drive measurable results.

SERVICE EXCELLENCE AWARD

Honors service providers that offer innovative solutions across retail operations, technology, design, logistics, and other essential functions, demonstrating significant positive impact.

DESIGN & DEVELOPMENT AWARD

Recognizes excellence in the design and development of retail spaces, including new builds, renovations, and visionary concepts.

RETAIL PROFESSIONAL OF THE YEAR AWARD

Celebrates an individual whose outstanding leadership, innovation, and achievements have significantly impacted their company, customers, and the broader retail industry.

SUSTAINABILITY EXCELLENCE AWARD

Recognizes outstanding commitment to sustainability within retail projects, demonstrating environmentally conscious practices, resource efficiency, and/or positive social impact.

WE'VE DESIGNED OUR RETAIL CONGRESS MENA AWARDS TO CELEBRATE THE DIVERSE FACETS OF RETAIL EXCELLENCE IN OUR DYNAMIC INDUSTRY. EACH CATEGORY REPRESENTS A UNIQUE ASPECT OF RETAIL, REWARDING THE CREATIVITY, BUSINESS ACUMEN, AND EXCEPTIONAL PERFORMANCE THAT DRIVE SUCCESS IN THE MENA REGION.

THE GREGORY VOGT SCHOOL FOR RETAIL PROFESSIONALS

June 10-12, 2024 | The Ritz-Carlton DIFC, Dubai, UAE

Capturing the Highlights of GVS Training Program 2024!

Experience the highlights from our Gregory Vogt School for Retail Professionals Training Program, held on June 10-12, 2024. Industry experts gathered for insightful sessions and dynamic discussions, making it a memorable event.

Our sincere thanks to everyone who contributed to the success of the 2024 GVS Training. A special shout-out to our exceptional instructors for their motivating presentations, and congratulations to all our students for engaging in this enriching journey.

We look forward to seeing you next year! Mark your calendars for May 26-28, 2025.

GVS GRADUATION

GVS 2024 LEVEL 1 GRADUATES

GVS 2024 LEVEL 2 GRADUATES

GVS 2024 LEVEL 3 GRADUATES

GVS 2024 GRADUATES LEVEL 1 & 2

GVS GRADUATION

LEVEL 1

GVS GRADUATION

LEVEL 3

GVS GRADUATION

LEVEL 2 MOMENTS

SPRINGBOARD NETWORKING EVENT – DUBAI

June 11, 2024 | Ritz Carlton DIFC, Dubai, UAE

Connecting Minds, Building Future!

June 11th was a night to remember at the Centre Cut Restaurant - The Ritz-Carlton DIFC, as we hosted the SpringBoard Dubai Networking Event in conjunction with the Gregory Vogt School for Retail Professionals. Over 200 MECS+R members, GVS students, and esteemed guests gathered for an evening of valuable networking and camaraderie. The energy and connections made were truly inspiring. Thank you to all who attended and contributed to the success of this event!

89% of UAE Retail Shoppers Leverage Digital Tools in Physical Stores

Worldwide, when it comes to shopping, consumers no longer think in terms of channels such as instore or online. For an increasingly larger share, physical stores have become an extension of the digital shopping experience, and shopping is just shopping.

This is one prominent trend PYMNTS Intelligence identified in its extensive 2024 Global Digital Shopping Index series, which was commissioned by Visa Acceptance Solutions.

One essential component in this trend around the world is the rise of the Clickand-Mortar™ shopper: those consumers who leverage both digital tools and physical locations to maximize their shopping experience. It’s a pattern we identified in Mexico, Europe, the U.S. and elsewhere, but, as we reveal in the United Arab Emirates (UAE) Edition of our Global Shopping Index, Clickand-Mortar™ shoppers are especially prevalent in the UAE.

Eighty-nine percent of UAE retail shoppers leverage digital tools while browsing in physical stores. Meanwhile, 45% of UAE grocery shoppers do the same. And, when surveyed about the quality of their digital shopping features, respondents shared what turned out to be the second highest level of customer satisfaction among the six countries we studied. This likely explains why 71% of UAE consumers used digital features to

enhance their most recent shopping experience. But there is still room to grow. We surveyed 1,392 consumers and 212 merchants in the UAE for our study and determined that merchants there should not rest on their laurels; rather, they would be wise to continue building on the existing enthusiasm for Click-andMortar™ shopping.

In a retail landscape increasingly driven by digital innovation, ongoing development can help ensure the UAE stays ahead of other regions. After all, it doesn’t take long for once-novel digital features to become stale in the eyes of consumers — and that can result in stagnation.

Source: Pymnts.com (Read more: https://bit.ly/3WGjFIP)

Alandalus Starts Work on $221 million Makkah Retail Development

Alandalus Property has started work on a major commercial development in Makkah being developed at a total investment of SAR831 million ($221.4 million) in the Umm Jurfan neighbourhood of the Saudi city.

On completion, the project will boast 350 rental units, including major showrooms, retail outlets, a hypermarket, an entertainment zone as well as indoor and outdoor café and restaurant, said Alandalus Property in its filing to the Saudi bourse Tadawul.

Spanning a 127,434 sqm area, the key commercial property comprises two floors and multi-level parking facilities for 1,800 cars, it added.

The land was purchased by Alandalus Property through the company Masat Property, of which the company’s owns 25% of its capital, while Buroj International Company owns the remaining 75% stake.

The Board of Directors of Masat Property signed up Hamat Holding as the project developer.

According to the developer’s report, the optimal final engineering design for the project was chosen from a group of designs prepared by the most skilled engineering offices in the kingdom.

As per the engineering design, the project will boast an estimated rental area of 50,650 sqm.

The project will be financed mainly through bank loans and partly through the partners’ own resources, it added.

The Makkah retail project is likely for completion in the first quarter of 2027.

Source : Zawya (Read more: https://bit.ly/3AcT5OA)

BLACK+DECKER Opens its First Brand Store in the World in Dubai

The world’s first BLACK+DECKER®️ brand store is now open at Al Ghurair Centre, Dubai. This strategic move marks a significant milestone in BLACK+DECKER®️ ambitious expansion strategy and aligns with its vision to elevate retail footprint, getting closer to consumers and double its revenue growth.

This also marks the first home appliance brand to have a brand store in the region. At a time when the shopping experience is becoming increasingly impersonal, this store aims at bringing back a human touch and an enjoyable shopping experience.

Rahul Chandra, Director Consumer, BLACK+DECKER®️ Middle East said: “We are delighted to announce the opening of our first exclusive store, a testament to our dedication towards customer satisfaction. With a physical retail space, we’re not just expanding our reach, but also strengthening our connection with our consumers”.

The UAE Home Appliances Market size is estimated at USD 1.07 billion in 2024, and is expected to reach

USD 1.31 billion by 2029, growing at a CAGR of 4.24% during the forecast period (2024-2029). Factors like rising disposable income, improving living standards, and the need for comfort are the key drivers for the growth and rapid innovation in the home appliance market”.

“As we unveil BLACK+DECKER®️’s first retail brand store in the world, we also look ahead to our ambitious growth plans, which include improving retail experience and expanding consumer touchpoints in the future. This store embodies our belief ‘easy by design’ and goes a long way in making the lives of our consumers easy, convenient and balanced. We would like to thank our partners at Al Wifaq for their support and we look forward to growing the business together”, he added.

Source : Zawya (Read more: https://bit.ly/3A01WmN)

Dubai to get Dh210 million new community shopping mall

Dubai’s leading property developer Sobha Realty will build a new community shopping mall in Sobha Hartland for Dh210 million.

Construction work on the shopping mall has commenced and is scheduled to be completed in the second half of 2026. With a built-up area of approximately 339,000 square feet and a gross leasable area of around 115,000 square feet, the project will house a variety of amenities, including a supermarket, gym, play courts, a soft play/entertainment zone and diverse restaurants offering a wide range of food choices. It will feature 35 retail shops and F&B outlets, along with over 10 dining options.

Ravi Menon, Co-Chairman of Sobha Group, said the mall will offer multi-tier retail stores, gourmet dining and diverse entertainment options. “Beyond a retail space, the mall is designed to be a pivotal hub for community engagement that offers an ideal blend of nature, culture

and recreation that will elevate the living quotient of community members and visitors,” he said.

The developer said the mall features greenery, water features, natural lighting, energy-efficient lighting, solar panels, green building materials and a skylight roof for natural light.

Furthermore, innovative technologies such as interactive displays, smart lighting systems and digital wayfinding will be integrated to enhance visitor experiences.

Source: Khaleej Times (https://bit.ly/3zZkWlB)

Etoile Group Expands Luxury Retail Presence with 11 Openings Across the GCC Region in the First Semester

Etoile Group, the pioneering luxury fashion retail group, announces the successful launch of 11 new stores across the GCC region, for esteemed brands including Etoile La Boutique, Aquazzura, Tod’s, Etro, and Chanel.

These strategic openings mark a significant milestone in Etoile Group’s ambitious expansion plans for 2024, aligning with its vision to elevate the luxury retail landscape across the Middle East and its strategy to double its revenue and workforce over the next five years.

Founder and President of Etoile Group, Ingie Chalhoub, said: “Our vision for 2024 goes beyond just opening new stores; it’s about elevating every aspect

of the shopping experience. From meticulously curated collections to immersive shopping environments, each store serves as cultural hubs where art, fashion, and sophistication intertwine, setting new standards of excellence

in the realm of luxury fashion retail.”

Managing Director of Etoile Group, Samer Khouri, said: “Welcoming these new stores into the Etoile Group family marks a significant step forward in our mission to redefine luxury retail in the region. As we unveil these exquisite spaces, we also look ahead to our ambitious 2024 growth plans, which include expanding our digital footprint and forging strategic partnerships to enhance the shopping experience for our discerning clientele.”

Source : Zawya (Read more : https://bit.ly/4fj150F)

Mastercard, LuLu Group Partner to Foster Sustainability in GCC’s Retail Payments

Mastercard has entered into a partnership with LuLu Group to boost sustainability, innovation, and efficiency in retail payments across the six GCC markets.

The partnership, extending across Bahrain, Kuwait, Oman, Qatar, UAE, and Saudi Arabia—will integrate Mastercard’s expertise into LuLu Group’s operations, enhancing efficiencies, scale, and datadriven decision-making, according to a press release.

The collaboration will support various projects, including sustainability initiatives, co-branded credit card portfolios, and innovative technology enhancements.

New features and benefits introduced by the partnership include digital instore transactions, increased cashless experiences, personalised rewards, and cashback offers at LuLu stores.

Additionally, LuLu will pilot the Mastercard Next Gen Point of Interaction (POI) solution, allowing consumers to make cardless payments at self-checkout counters.

Furthermore, LuLu and Mastercard pledged to maintain their portfolio of cobranded credit cards through partners including Abu Dhabi Commercial Bank (ADCB) in the UAE, Bank Muscat in Oman, CrediMax in Bahrain, Doha Bank in Qatar, Emirates NBD in the UAE, and

Gulf Bank in Kuwait. The two companies announced that they are planning to expand into Saudi Arabia.

Amnah Ajmal, Executive Vice President for Market Development, EEMEA, at Mastercard, said “Our partnership will enable us to enhance the Mastercard co-branded credit card experience and support LuLu in leveraging technology and innovation to boost their offerings.”

Saifee Rupawala, CEO of LuLu Group International, stated: “Being able to personalise our offerings to better suit our customers’ needs, is key for Lulu Group’s growth and future ambitions. As payments’ technology continues to offer new possibilities, we look forward to the next stage of our relationship with Mastercard.”

Source: Zawya (Read more: https://bit.ly/3SnrQaE)

Image courtesy: Etoile Group

Riyadh Set for ‘Phenomenal’ Shopping Boom as Retail Stock to Increase 28% By 2026

Average rental rates across Riyadh’s retail market have increased marginally by 3 per cent to SR2,725 ($727) psm for both regional and super regional malls in the last 12 months, while occupancy rates across the retail market increased by 5 percentage points to 90 per cent, according to global property consultancy Knight Frank’s Summer 2024 Saudi Arabia Retail Market Overview.

The total existing retail supply in Riyadh stands at 3.6 million sqm, with around 27,050 sqm of retail space entering the market in Q1 2024.

Shopping in Riyadh

Knight Frank forecasts that the capital’s retail stock will grow by 28 per cent to 4.6 million sqm by 2026.

In contrast to the capital, Jeddah and the Dammam Metropolitan Area (DMA) have experienced subdued retail market growth in the last 12 months with occupancy rates dropping by 1

percentage point in both cities, to 84 per cent and 89 per cent, respectively, says Knight Frank.

Lease rates have responded, with average rents in Jeddah dropping by 7 per cent to SR2,465 ($657) psm, while DMA regional and super regional malls rental rates have, on average, witnessed a decline of 1.3 per cent to SR2,275 ($607) psm.

Faisal Durrani, Partner – Head of Research, MENA, said: “The rapidity of the evolution of the retail and food and beverage landscape in Saudi Arabia

cannot be overstated and Riyadh sits at the heart of this phenomenal growth, which is also powering the Kingdom’s economic diversification efforts.

“We are in the midst of a significant liberalisation of Saudi Arabia’s entertainment sector as well, resulting in the development of new cinemas, concert halls, theme parks, and sports complexes, facilities.

“This transformation is reshaping the retail landscape while also making a substantial contribution to non-oil GDP growth.

“Looking ahead, a further 100,000 sqm of space is likely be completed in the capital this year, which while welcome news for consumers, shines a light on the importance for mall operators, developers and retailers to double-down on experiential retail offerings in order to stay relevant and appealing.”

Source : Arabian Business (Read more: https://bit.ly/4d1f7T4)

Saudi Arabia’s Grocery Retail Sector: A Market in Transition

Saudi Arabia’s grocery retail sector is poised for significant evolution, driven by four strategic developments outlined in a recent Oliver Wyman report. The sector, though progressed, remains fragmented, presenting opportunities for consolidation to enhance scale and efficiency. According to Joe Abi Akl from Oliver Wyman, expanding market footprint and boosting digital investments are crucial for growth, aligning with trends seen in more developed markets.

Another key insight is the need for differentiation in offerings. The report suggests that specialized approaches catering to distinct customer needs — such as premium experiences or value-oriented services — will become more prevalent. This shift mirrors strategies observed in mature markets, emphasizing the importance of tailored customer experiences to drive

satisfaction and loyalty.

A notable trend expected to gain traction is the rise of discounters like Lidl and Aldi. The report indicates strong consumer interest in this segment, with potential to reshape market dynamics by offering competitive pricing and broadening accessibility.

Personalization emerges as a critical strategy as well, driven by Saudi Arabia’s diverse consumer base. Retailers are urged to adopt personalized promotions,

AI-driven services, and localized experiences to enhance customer engagement and satisfaction.

Overall, the report underscores the need for Saudi retailers to innovate and embrace technology to stay competitive. By understanding customer preferences and strategically differentiating their offerings, retailers can capitalize on growth opportunities in this dynamic market.

In conclusion, Joe Abi Akl emphasizes the importance of strategic planning and innovation to navigate the evolving landscape successfully. Saudi Arabia’s grocery sector presents substantial potential for growth, provided retailers adapt to changing consumer expectations and market dynamics effectively.

Source: Consultancy-me.com (Read More: https://bit.ly/3ydsMax)

Africa is Leapfrogging into The Future of Retail

The bi-annual Global Retail Development Index (GRDI), which is a study of the global retailing landscape has revealed Africa is poised to move away from traditional retail models and become the fastest-growing, richest, and most sophisticated market in the world. Prashaen Reddy, a partner at management consulting firm Kearney says that this is thanks to the explosive growth of young, urban, and digitally savvy consumers; increasing mobile phone penetration; the creation of digital payment and shopping networks; favorable governmental regulations and spending initiatives; and significant investment by both foreign and domestic companies.

Source: Zawya (Read more : https://bit.ly/4cY4Jvf)

Circana: Value-Driven Consumers Spending on ‘Little Luxuries;’ Hot Sellers are…

Year-over-year discretionary and nondiscretionary retail spending continued to steady into summer as consumers remained focused on value but also willing to splurge. U.S. retail sales delivered a repeat performance of May results in June as revenue across the combined view of discretionary general merchandise and consumer packaged goods once again grew 1%, and unit demand remained level with the same time last year, according to Circana, a leading advisor on the complexity of consumer behavior. The steadying of unit sales, flattening average selling price comparisons, increased value options and promotional engagement are signals of continued movement toward consumer spending stabilization.

Amazon’s Blueprint for Frictionless Shopping is The Future of Retail

The best-known of Amazon’s retail innovations is JWO technology. While it seems magical to shoppers – walk in, grab what you need, and leave without checking out – the reality is a complex interplay of multiple technologies. JWO combines overhead cameras, 3D shelf mapping, product appearance recognition, and sophisticated tracking software. The system doesn’t just see products; it understands shopper behavior, tracking individuals through the store while maintaining their privacy. Amazon’s vision for the future of retail is not unlike its strategy for dominating e-commerce: remove every possible obstacle between the customer and their desired purchase.

Source: Forbes (Read more: https://bit.ly/4cYOmih)

Miniso Opens Paris Flagship; Eyes 1,000 New Stores in 2024

Miniso is continuing to roll out stores in high-profile locations – this time opening its newest flagship in one of Europe’s biggest cities. The Chinese-based value retailer celebrated the grand opening of its new store in Paris on June 22. Located on the Avenue des Champs-Elysées, Miniso’s latest store is within one of the city’s largest shopping districts and tourist-friendly areas. “The new flagship store in Paris is another exciting step forward for Miniso,” said Vincent Huang, general manager of Miniso overseas distributor markets and VP. “Following the successful launch of Super Stores in Times Square and Oxford Street, this prestigious Parisian location further solidifies our commitment to the ‘Super Store’ strategy and its role in elevating the customer experience and propelling our global brand recognition.”

Best Buy’s New Strategy Includes AI, Holograms, Reimagined Stores and more

Best Buy is launching a new strategy as its looks to revive sales and leverage innovations such as AI to help provide more personalized experiences and tech help for customers. As part of the plan, the consumer electronics giant will introduce experiential spaces that showcase the latest tech in hundreds of stores and add more dedicated staff in its computing, appliance and home theater sections, areas where Best Buy said customers have indicated they want support. In addition, through a partnership with Google Cloud, the company said it will provide customers and employees with more personalized, “best-in-class” tech support experiences.

Source: Chain Store Age (Read more: https://bit.ly/3SsAqoi)

New Refund Platform Provides Consumers with Instant Refunds of Online Purchases

The new Reshop platform is designed to remove the wait time for online shoppers to get their money back by providing them with instant refunds and allowing them to be in control of how to use their money when receiving a refund from the platform. It is not a store credit. Shoppers can start a return with any of the platform’s partner retailers and select to get their refund with Reshop. To receive their funds instantly, users submit their return and then create a Reshop account. They can choose to receive their money instantly on a virtual prepaid Reshop debit card or have it deposited into their bank account.

Source: Chain Store Age (Read More: https://bit.ly/4d524jB)

Source: Chain Store Age (Read more: https://bit.ly/46qB6k7)

Source: Chain Store Age (Read more : https://bit.ly/4dbIP7I)

The country’s largest closeout retailer is launching its own co-branded credit card. Ollie’s Bargain Outlet Holdings, Inc. has partnered with financial technology company Sunbit to launch a co-branded Visa credit card. Cardholders will be able to earn points for purchases at Ollie’s and everywhere else Visa is accepted and receive access to exclusive offers and events. Ollie’s said it chose Sunbit’s credit card platform for several reasons, including its “customer-centric” approach: Customers are never charged fees, and the card features industry-high approval rates — making it the perfect match for Ollie’s customer needs, the retailer said.

Source: Chain Store Age (Read more: https://bit.ly/3LFtPDg)

Trent Plans Global Retail Push After Acing It In India

Trent had earlier deferred its global ambitions to consolidate domestic operations. Now, with a robust and profitable business model in place, the traditionally conservative retailer is now seeking to tap the substantial Indian diaspora overseas, becoming the first retailer to do so, the people said. It may consider an international ally for possible partnerships, though that is unconfirmed. Chief Executive Officer P Venkatesalu said the company, as previously, continues to explore possibilities. Trent’s consolidated revenue has increased at a five-year compound annual growth rate of 45%, reaffirming its growth strategy driven by agile on-ground execution. Amid an apparel slowdown, Trent stands out as an anomaly, consistently delivering positive surprises in both revenue and profit margin.

Source: The Economic Times (Read more: https://bit.ly/4d12dEF)

Retailers Adapt to New Business Models and Changing Shopper Trends

Scent To Château de Versailles: How Dior Weaves Culture into Retail

Digitalisation has led to new models like marketplaces, direct-to-consumer, and social commerce. New business models, channel expansion, and evolving shopper expectations are reshaping the retail industry, according to a new report from Euromonitor International and the National Retail Federation (NRF). The report said that digitalisation has given rise to innovative business models such as marketplaces, direct-to-consumer, and social commerce. Non-retail companies like social media platforms, streaming services, and gaming networks are now vying for consumer attention and spending. These platforms, originally designed for other purposes, are increasingly integrating commerce features.

Source: Retail Asia (Read more: https://bit.ly/4cWGPjZ)

Turkish Lifestyle Retailer Plans GCC Foray

Global Capital Management Ltd, the alternative asset management arm of Kuwait’s Global Investment House (GIH), announced that Yargici, an upscale women’s clothing and accessories retailer and home decoration brand in Turkey, aims to expand in the GCC markets, namely Kuwait and Saudi Arabia. The brand has operations in Japan, Greece, Switzerland, the Philippines, Russia, Australia and the Middle Eastern markets through its wholesale channels. Sulaiman M. Al Rubaie, Managing Partner at Global Capital Management, said: “With its unique fashion line, strong and trusted brand, value proposition and premium store locations across Turkey, Yargici is well positioned to expand beyond Turkey to international markets, mainly the GCC.”

Source: Khaleej Times (Read more: https://bit.ly/4flARe4)

There’s a common thread running between the newest imagining of Dior’s flagship Miss Dior fragrance and Paris’ Château de Versailles. The Silk Room, on show to the public and sponsored by Christian Dior Parfums, is based on drawings by multi disciplinary artist Eva Jospin and hand-embroidered by Mumbai’s Chanakya Workshops and School of Craft. A frequent Dior collaborator, Chanakya, which helps Indian women learn the traditional artisan techniques of the Continent, most recently reimagined mosaics of athletes by Faith Ringgold for the Maison’s couture show in June. Jospin’s Silk Room project began three years ago with Maria Grazia Chiuri’s Fall ‘21 haute couture show at Paris’ Musée Rodin.

Source: Forbes (Read more: https://bit.ly/4fmemWe)

WHSmith Partners with Xiatech to Revolutionize Retail Operations Worldwide

WHSmith, the renowned global travel retailer, has selected Xiatech, the innovator behind Xfuze, the world’s premier composable HyperIntegration Platform, as its strategic ally to propel its business growth and expand internationally. Over the course of the next decade, WHSmith will implement Xfuze to establish a dynamic, interconnected business environment. This integration will consolidate their system infrastructure, fostering a unified repository of reliable data encompassing customers, sales, products, and inventory. Such integration will enhance operational efficiency and facilitate informed decision-making throughout WHSmith’s global operations. With a rich history spanning over two centuries, WHSmith stands as a prominent global travel retailer.

Source: Travel and Tour World (Read more: https://bit.ly/4fkBswx)

Jawharat Riyadh and Jawharat Jeddah

Set to be the number one malls for footfall and spend in their respective cities.

For Leasing

Jawharat Riyadh

Jawharat Jeddah