As according to expert set of panel at the virtual roundtable on Intelligent Orchestration of Retail Experience, “Thanks to the recent advent of the Covid-19 Pandemic and its effect in the form of lockdowns as well as the curfews that were imposed across the nations and territories, it has well resulted in prompting via the requirements, surging up of the crucial GCC E commerce market that is all expected to achieve $19.7 billion, within the close of the year 2020.”
With the enforced complete switch in to online sales, for the retailers in the territory that boasted about a positive growth. Saudi Arabia, is all projected to claim a majority with $8.3 Billion, while the UAE comes distant second in the territory with $7.5 Billion.
As according to a report from Statista, an online tracker of global economy as well as the retail sector, the overall global retail sales are aggregated to reach $25.04 trillion club during 2021 and as well as $26.7 trillion during 2022, a total upsurge from an overall $23.6 trillion during 2018, two years ago.
The overall prediction of GCC retail arena is aggregated to develop at a CAGR of 4 percent from $253.2bn in 2018 to $308bn in 2023, as per data and core statistics acquired from Alpen Capital Sources.
Director of Sales- Middle East, Zebra Technologies, Hozefa Saylawala stated that “A huge lot of retailers during the initial round of pandemic, lockdowns had acknowledged the gap or risks associated as well as the relevant opportunities. They have already witnessed a huge potential for engaging the relevant retailers keen to make the most of the shift. The clients are also urging demand for better self-services, as well as contactless payment selective for shopping purpose.”
The Director of Danube group, Adel Sajan, stated that the “online purchases had accounted for only five percent of the overall sales before the initial bout of Pandemic started off and that, it surged 500 percent to 25 percent sales during the lockdown as well as settling at 10 percent in current situation.”
The Vice President- Market place transformation at Sun and Sand Sports Bhavna Buttan stated that “the recent COVID-19 Pandemic has proved that although it is a great liability for other arena, it is a huge blessing in disguise for GCC Ecommerce arena, it has forced major consumers as well as retailers to change their behaviour swiftly. This has also provided better lessons for us in the previous two decades.”
“At Sun and Sand Sports, we launched our digital sales channel mix six years ago, which the clients ever utilized. However, Covid-19 pushed every regarding to us in the digital space rapidly. We realized a cluster then we additionally failed in a fascicle about areas. However, our online sales soared 500 percentage than greater it compensated for the slump of the brick-and-mortar space.”
Ashutosh Chakradeo, head of retail at Choithrams, stated further that: “While our online orders witnessed a jump of around 3 times, our present ability was once more adequate to deal with only a 50 percent jump. However, we managed after do incomplete physical consistency in timing as properly so upgraded the technological know-how according to superintend the rush.”
While fashion retail has altered suggestively, the largest exchange is per chance witnessed by the operators concerning grocery retail, supermarkets and hypermarkets where the soar within online orders pressured them in conformity with undertake adjustments overnight.