Last week, I talked about a set of challenges that will face the office space market, but if we look at the repercussions of the Corona crisis, we will find that the office space market is not the only one that will face bets in the future, as the retail space market is also facing major challenges, waiting for owners Shops and shopping malls.
It is no secret to everyone that retailers and business owners were among the largest groups affected by the crisis, and the consequences of the crisis still affect their activity for a period, and even after the crisis eases, this will cost them time to make up for what they lost before, despite the efforts of the owners, if any, to mitigate those effects on them from During a set of initiatives that include exemption from some fees, postponement of rental installments, and others.
On the other hand, e-commerce and remote shopping via the Internet have gained a lot of momentum, and have witnessed great popularity, which is likely in the future.
Statistics indicate that the country tops the first places in the growth of e-commerce in the Middle East and North Africa region, as it recorded a record rise in e-shopping during the last periods of this year.
This growth is not in favor of traditional retail trade and stores, which compels their owners to adapt to the situation, and look for ways to enhance profits and compensate for losses by adopting e-commerce, knowing that there are many commercial companies that have adopted online shopping for long periods, and this is what Significant material losses were avoided during the period of the total ban and the total closure of stores and shopping centers.
At the same time, this growth is not in the interest of the owners of shopping centers, especially those programmed to enter the market during the coming periods, which forces them to reconsider the order of priorities and formulate effective outputs to raise the efficiency of the retail market and commercial stores, especially since studies indicate that the profits of e-commerce in The world will exceed 48.8 billion dollars during 2021, while it is expected to exceed the ceiling of five trillion dollars by 2024.
Other studies also indicate that the Arab region contains more than 100 million digital buyers and the number is expected to rise in the future according to the expansion of the use of smart devices and the Internet, and these are other bets that must be taken into account.
Will owners and caretakers find successful solutions to contain the expected shortage of demand for retail space and shops? Waiting for what will be revealed in the coming days.
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"The country ranks first in the growth of e-commerce at the regional level."