UAE’s Jumbo Group rides COVID-19-created consumer wave to come up trumps

UAE’s Jumbo Group rides COVID-19-created consumer wave to come up trumps

Dubai: If you thought all businesses in the UAE were only thinking doom-and-gloom during the pandemic months, you sure haven't met Arvind Agrawal. "No, we did not hit the panic button," said the CEO of Jumbo Group, one of the UAE's legacy electronics retailer and wholesaler. "Unlike many other businesses that cut salaries, dramatically dropped people, shut down locations, we did not do any of that. What we did was take a measured approach. "We looked to the East, at China, to come to a reasonable conclusion on how the local and regional markets would react once the full weight of COVID-19 became apparent. Because the East was ahead of the curve with their lockdown and control measures, as well as how consumers reacted. "I have to say we forecast quite correctly. We continue to monitor these forecasts - and we certainly didn't drop our buying." That did help“¦ as the market and its consumers switched to work-from-home requirements. Electronics and tech retailers were among the first beneficiaries as demand spiked for smartphones, laptops and tablets, and networking equipment. "There was Increased buying in many categories, and we recognised how the trend, was shaping up," said Agrawal. "The lockdown phase