Get ready for the future of retail – ArabianBusiness.com

Get ready for the future of retail – ArabianBusiness.com

New technology and changing consumer preferences are disrupting retail worldwide, putting pressure on retailers. Leading retailers around the world are not complacent. Already, they are making structural and organisational changes, building the critical capabilities needed to adopt or create new technologies that address their customers’ needs. These organisations offer examples to other retailers of how to reshape, rethink, and reinvent traditional business models.

The pandemic accelerated changes that were already underway. In 2019, e-commerce accounted for just 3 percent of total retail sales in the GCC in 2019, but doubled to reach 6 percent in 2020, according to Euromonitor. Most millennials and generation Z in the GCC want to shop online.