With the retail industry observing dynamic transformation in different technologies and sales channels, it has been reported that the introduction to omnichannel approach would potentially help retailers worldwide attain a niche in the industry. One such instances is rather evident from UAE’s retail sector.
Recently, a survey conducted in UAE depicted that omnichannel is expected to bolster the retail sector in the country. As cases of COVID-19 are decline continuously in the country, residents are again putting their confidence in brick-and-mortar stores, as per the Kearney study.
Through the survey, it was revealed that the UAE residents prefer buying bags, clothes, and accessories in-store, with an enhanced shopping experience (49%), convenience (51%), and competitive pricing (44%) being the key motivators.
Commenting on the survey, Debashish Mukherjee, Partner, Consumer and Retail at Kearney Middle East stated that with omnichannel, online, and in-store going head-on for attracting customers, building stronger connections of brands will become vital, said.
Mukherjee quoted that the customer's habits had been transformed drastically in the last 18-months, where the rapid adoption of online shopping and spending was witnessed.
He mentioned that although the e-commerce sector has not slowed down, it can be observed that customers are returning to their preferred stores for an improved shopping experience.
The study discovered that around 34% of residents have been spending heftily on non-essential items over the last quarter.
This surge resonates with the prediction issued earlier this year by the Dubai Chamber of Commerce & Industry, which predicts that store-based retailing will grow at a CAGR of 5.7%.
Mukherjee further stated that this year the online retailers began offering a discount at the second week of November with a single-day sale, rather than the traditional Black Friday kick-off.
Imperatively, Debashish has laid expectations on retailers to commence offering better in-store experiences, click and collect, store-in-stores concepts, or self or automated checkouts as consumers today are looking for better and more engaging ways of shopping.
Source Credit - http://www.tradearabia.com/news/IND_390239.html