Khaleej Times: What advantage do GCC retailers have over European counterparts?
Immersive technology such as digital signages, interactive kiosks an edge
What is it about the retail market in the GCC that sets it apart from its competitors around the world? Is it the eclectic mix of offerings in the malls, or the attention to customer needs?
Industry experts have determined that the virtual kiosks, interactive mirrors, and hologram advertisements being adopted by retailers, are among the many ways that GCC retailers are leapfrogging Europe in enhancing customer experience.
“Immersive technology such as digital signage, interactive kiosks, hologram ads and audio and lighting are now the competitive advantage for GCC retailers to attract and retain shoppers,” said David Macadam, chief executive officer of the Middle East Council of Shopping Centers, the industry trade body that helps to facilitate and promote the Middle East and North Africa region’s shopping centre development.
“In order to meet the demands of highly-connected shoppers, GCC retailers can leapfrog many European retailers in using professional audiovisual technology to bring innovations and online technology into the in-store experience,” he noted.
Boosted by strong tourism growth, new and expanded malls and theme parks, and mega-events such as Expo 2020 Dubai and the 2022 Fifa World Cup in Qatar, GCC retail sales are set to reach $285 billion by 2018, according to a recent report by Alpen Capital. Demonstrating the market potential, the Middle East is one of the world’s fastest-growing professional audiovisual markets, with a 72 per cent growth from 2012 to 2016, reaching $2.8 billion. The wider MEA market is also posting a 64 per cent growth, according to a report by InfoComm International.
One of the world’s top tourist and retail destinations, Dubai and the UAE are attracting tens of millions of visitors to large and luxurious malls, theme parks that are rapidly opening, and an increasing number of cultural events with the opening of the Dubai Opera and concert venues.
Tourists to the UAE are attracted by world-class infrastructure and luxury retail venues, which will be boosted by Expo 2020 Dubai set to host 25 million visitors. The Dubai Chamber of Commerce and Industry predicts UAE consumer spending will reach $200 billion by 2017.
“Innovation is part of the UAE’s DNA – and retailers here are increasingly deploying innovations… as audiovisual technology advances, we’re seeing strong demand for qualified professionals who know how to use it,” said Steve Scorse, vice-president for the Emea region at SiliconCore Technology.
– rohma@khaleejtimes.com
Link to Article: http://www.khaleejtimes.com/business/retail/what-advantage-do-gcc-retailers-have-over-europe-counterparts