Retail experts across Saudi Arabia will discuss how to handle the growing demand from in the kingdom for all types of merchandises and luxuries at the InRetail Summit opening tomorrow (April 13) in Jeddah.

The two-day event will run at Park Hyatt Jeddah.

Mohi’adin Yahya Hakami, deputy secretary general of Business Sectors of the Jeddah Chamber of Commerce & Industry, the supporter and speaker at the event, said: “Saudi Arabia is the largest economy in the gulf region with an average of SR15,000 ($4,000) per capita.”

“According to recent reports, the retail sector in Saudi Arabia has reached 23.7 billion Saudi Riyals. The credit goes to various effective factors such as the high annual income, large percentage of youth, increasing consumption rates and the continuous growth in the number of shopping centres, malls and commercial stores in this prosperous market.

“To benefit from the promising opportunities the Saudi retail market offers, we have to understand its directions, the needs of the consumer and the common shopping behaviours. This is where the InRetail Summit comes in to shed the spotlight on the important issues and topics that the sector pioneers need to tackle and address properly,” he added.

Mohammad Alawi, the CEO of the Red Sea Markets limited Company and the chairman of the second annual InRetail Summit, said: “The InRetail Summit intends to convene shopping mall owners, retail corporate executives, business developers and solutions architects to discuss the upfront challenges that face the Saudi retail sector which will be the pivot topics of the summit.”

“For the success of the summit, the audience will further elaborate on redesigning the retail sector to suit the contemporary consumers, seizing new opportunities, reviewing and discussing the government mandates and regulations related to the sector. It should tackle the need for reinventing the competitive advantage. As well as discussing how to leverage on the digital revolution and the need to adapt with it.

“The summit will also review the new anticipated malls environment and discuss all the means to ensure sustainability for the sector. As well, the participants will review the directions and solutions should be taken that will contribute to a better future for the retail sector in Saudi Arabia,” he added.

InRetail Summit Saudi Arabia is considered the sole event that tackles the challenges faced by the Saudi retail market with a unique convention of local, regional and international experts.

They will share and present ideas through individual presentations, discussion and focus groups that will provide everyone with lots of information about the local market. It will also expose them to the strategies by which the retail companies need to succeed in the market. – TradeArabia News Service