Maktoum bin Mohammed attends part of the "Retail Summit 2022" in Dubai

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, witnessed some of the activities of the Retail Summit, the global event that was launched

Its activities today at Atlantis - Palm Jumeirah Dubai, with the participation of a number of the most important leading international brands, and more than 800 participants and in the presence of the Director General of Dubai Chambers, Hamad Mubarak

Buamim, CEO and Co-founder of Retail Summit Gary Tucker, Director and Co-founder of Retail Summit Mark Howard, 

His Highness attended a session during the summit entitled: "Be flexible or go home", in which the moderator of the session, Angela Farukia, founder of Brand x Society, interviewed

Spokesperson Catherine Levesque, Senior Vice President, Europe, Tapestry.

The session discussed the role of rapid changes in the digital world, and the high acumen that characterizes it

Customers, advanced tools and technology remove the competitive advantage that traditional retailers had.

The session discussed the possibility of adopting flexibility in the retail sector as a solution

For these challenges, the benefits of adopting a flexible policy in the retail sector ensure the transition to a more efficient and adaptable model.

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 retail brands from all over the world.

around the world looking to explore business opportunities in the Middle East and Dubai in particular.

His Highness' visit included the platforms of some international brands, including the companies: "Warwick, great, rapport, nkd, Trespass, where His Highness became acquainted with what these companies offer.

International brands for its customers in the region are products that are presented for the first time through the World Summit, which will continue in Dubai until tomorrow, Tuesday, March 15th.

The two-day event's agenda includes twenty-seven presentations, panel discussions and interviews, featuring more than seventy keynote speakers from CEOs from

Worldwide - come together to provide insights and discuss the opportunities, challenges and future of Dubai's global retail sector.

market requirements

Commenting on the opening of the summit, Gary Tucker said, “The retail sector is currently in the stage of recovery after the 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 the requirements of the market, as individuals are looking forward to the digital transformation that has positively affected our daily lives and our choices that have become more

sustainability.

The Retail Summit brings together industry leaders from around the world to discuss and forecast the future of retail in line with consumer trends and expectations, and we are pleased to welcome

With global speakers participating in this unique event that brings together the most influential voices from around the world.”

digital transformation

Hamad Mubarak Buamim, Director General of Dubai Chambers, 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.

The summit comes at a time when the global retail sector is undergoing a digital transformation phase after the Covid-19 pandemic, as major players in the sector are working to stimulate recovery, and takeovers.

A share of the changing market aligns with their plans and strategies.

Buamim noted that he expects the UAE's e-commerce retail market to reach $8 billion by 2025, registering a compound annual growth rate of 15.4%.

During the period 2020-2025, noting 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 a network

Sophisticated logistical transportation, modern digital payment systems, and a high proportion of young, tech-related population, as well as strong government support.

The Director General of Dubai Chambers indicated that the brand's survival depends on its ability to maintain communication and interaction with its customers, through a mixture of retail services and technologies.

He pointed out that the Dubai Chamber of Commerce's support for the summit comes within the framework of its efforts to attract international events to the emirate, and to promote Dubai as a preferred destination for retailers around the world.

events

This year's edition of the Retail Summit kicked off with Dr. Ira Kalish, Chief Economist at Deloitte, who outlined the economic outlook after coping with COVID-19, as well as highlighting

Highlight the importance of building strategies that help retailers differentiate and achieve success.

It also touched on the challenges facing the supply chain, the labor market and social life.

On the sidelines of the event, several discussion sessions were held during the first day, most notably;

"Middle East Retail's Winning Formula", chaired by Scott Armstrong,

Editor-in-chief of Arabian Business magazine, with the participation of Kapil Sethi, Executive Vice President, Gulf Marketing Group;

Michael Shalhoub, Vice President, Joint Ventures

Head of Strategy, Growth, Innovation and Investment Affairs at Chalhoub Group;

and Abdullah Al Hashimi, Head of Business Intelligence at DP World - UAE,

Where they discussed the factors that drive consumers to change their behavior in the region, as well as the mechanisms of engaging experimental retail trade in the new climate, and how to provide

Unparalleled "Vegetal" shopping experiences.

The activities of the first day also included a panel discussion entitled “The Modern Global Workforce: Attracting, Retaining, and Motivating the Next Generation” moderated by Leslie Exley, CEO of

Lexley Harvey, with Marcela Wartinarg, CEO of AWWG, Patrick McIntyre, President of Global Retail, Mars Retail Group, and Marissa Silva,

CEO of North Sales Apparel, who outlined the best ways to attract the new generation, efficiently manage workforce changes, and embrace a diverse and inclusive culture.

Hussain Magdas, Partner and Head of Consumer and Retail Services at Deloitte Middle East added: “The Middle East has witnessed a huge rise in digital retail in the Middle East.

In recent years, the spread of the COVID-19 pandemic has stimulated global e-commerce sales to new and unprecedented levels.” Retailers in the region have also succeeded in

modify their current strategies to remain competitive in the market, and we are likely to see these strategies continue to adapt to reflect changing market conditions, starting with the effects

The decline of the Covid-19 pandemic, to the geopolitical and economic conditions around the world.

 The second day of the event is expected to witness in-depth discussions on e-commerce, which includes a comparison of the return on investment between the store and spending on digital advertising,

and the importance of sustainability and how it can be seen as more than just a phase, along with topics related to the post-pandemic luxury market and many others; David Boynton Director

CEO of The Body Shop, Susie Kohn, Head of EMEA for Foot Locker, Asma Ishaq, CEO of Modiri, and Sandra

Campos, Board Director, Adviser - Former CEO Diane von Furstenberg, Thierry Andreta, CEO, Mulberry Brand, Didier Souilat, CEO

For "Time Out Market", and other well-known names in the world of retail.

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