Retail is in revolution. Technology is changing not just how consumers shop, but how retailers operate. From supply chain management, to customer engagement, to brand management – everything is changing.
The Middle Eastern retail sector, is no doubt undergoing a change, a revolution, albeit at a different pace compared to the more developed countries. Even within the Middle East itself, the rate of development of the sector varies across the analysed countries. Recent announcements have confirmed that the face of online retail is set to change.
It truly is an exciting time for the Middle East. The PC is still the primary channel for online retail. However, the use of mobile is growing and taking a larger role in the online shopping process. Further, the advancement of online retail varies across product categories.
One of the important factors which have an impact on buying behaviour, and as a result of the retailers themselves, is the payment method as consumers are still wary of online security and have a preference for cash payment. Finally, social media and personalisation influence consumer shopping behaviour and should, therefore, be a consideration for retailers with the change and evolution of the sector.Retail in the Middle East is changing. The digitisation of today’s society has presented challenges for those retailers that have not addressed their digital strategy. The threat of online shopping is real and has lead to the death many store on the high street and in the malls.
Will you be next? The smart retailers are adapting quickly to these disruptive agents. Whether this be by adopting an omni-channel strategy to ensure they are in front of the customer when the impulse to buy hits or by implementing data science techniques to identify what the consumer wants even before they realise it themselves. The game is changing and your digital strategy will be your game changer.
