Maktoum bin Mohammed witnessed some of its activities

"Retail Summit 2022" kicks off in Dubai with the attendance of 800 international participants

Maktoum bin Mohammed during his visit to the exhibition held on the sidelines of the Retail Summit.

From the source

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, witnessed part of the Retail Summit, the global event that kicked off at Atlantis, The Palm Jumeirah Dubai, yesterday, with the participation of a number of the most important brands. Global, more than 800 participants.

His Highness attended a session during the summit entitled "Be flexible or go home", which discussed the role of rapid changes in the digital world, the high acumen of dealers, and advanced tools and technologies in removing the competitive advantage that traditional retailers enjoyed.

She also touched on the possibility of adopting flexibility in the retail sector as a solution to these challenges, and the benefits of adopting a flexible policy in the retail sector, which ensures the transition to a more efficient model that is able to keep pace with changes.

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum visited the exhibition held on the sidelines of the Retail Summit, which is an exceptional event to showcase young and emerging global retail brands looking to explore business opportunities in the Middle East, and Dubai in particular.

His Highness' visit included the platforms of some international brands, where he was introduced to the products offered by these international brands to their customers in the region, which are presented for the first time through the World Summit, whose activities will continue in Dubai until today, March 15th.

The two-day event's agenda includes 27 presentations, panel discussions and interviews, featuring more than 70 keynote speakers and CEOs from around the world, who came together to provide insights and discuss opportunities, challenges, and the future of Dubai's global retail sector.

Commenting on the opening of the summit, CEO and co-founder of the Retail Summit, Gary Tucker, said: “The retail sector is currently in the recovery phase after the (Covid-19) pandemic, which has changed consumer behavior, as we realized during that period that it is necessary to raise the trends of this sector, in line with market requirements”, pointing out that individuals are looking forward to digital transformation, which has positively affected daily life, and our choices that have become more sustainable.

He added: "The (Retail Summit) brings together leading sector leaders from all over the world, to discuss and anticipate the future of retail, in line with consumer trends and expectations."

In turn, the Director General of Dubai Chambers, Hamad Mubarak Buamim, stressed that the Retail Summit is a platform for retailers in Dubai to learn about the most prominent trends and technologies that shape consumer experiences.

He added that the summit comes at a time when the global retail sector is going through a phase of digital transformation after the “Covid-19” pandemic, as major players in the sector are working to stimulate recovery, and acquire a share of the changing market, in line with their plans and strategies.

Buamim pointed out that he expected the value of the e-commerce retail market in the UAE to reach eight billion dollars by 2025, registering a compound annual growth rate of 15.4% during the period (2020-2025).

He pointed out that the most important catalysts for the growth of the e-commerce sector in the UAE include high salaries, high access to the Internet (99%), and an advanced logistical transport network.

events

This year's edition of the "Retail Summit" began with the chief economic analyst at Deloitte, Dr. Ira Kalish, who reviewed the economic prospects after adapting to "Covid-19", and also highlighted the importance of building strategies that help retailers achieve success.

On the sidelines of the event, panel discussions were held, most notably: “The Winning Formula for the Retail Sector in the Middle East” and “The Modern Global Workforce: Attracting, Retaining and Motivating the Next Generation.”

The second day is expected to witness discussions on e-commerce, which includes a comparison of the return on investment between the store and spending on digital advertising, the importance of sustainability, as well as topics related to the luxury market after the pandemic.

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