GulfBase Live Support
Leave a message and our representative will contact you soon
28/09/2017 07:20 AST
Saudi Vision 2030 will drive the Kingdom’s retail market to a record-high of $142 billion by 2021, industry experts announced today (September 27) at the Saudi Consumer Forum by digital transformation enabler SAP.
Thanks to an increasingly globally-minded and brand-savvy local population and tourists, the Kingdom is the GCC’s fastest-growing retail market, growing 28 per cent to reach $142 billion by 2021, according to Alpen Capital. As a result, research firm AT Kearney says the Kingdom has the third-highest retail potential among emerging markets in Europe, the Middle East, and Africa.
“Saudi retailers and consumer brands going online is not enough. SAP is committed to driving the co-innovation partnerships that can enable organization-wide and employee-led digital transformation to support Saudi Vision 2030 economic diversification goals. A real-time digital core can deliver new levels of omni-channel customer engagement, talent development, and innovative new products and services,” said Ahmed Al-Faifi, managing director, SAP Saudi Arabia, Bahrain, and Yemen.
Showing the strong need for digital skills in the workplace, since 2014, employers in the Kingdom have been posting double- and triple-digit growth for analytics, cloud, mobility, and social media skills, according to the Oxford Economics report “Workforce 2020”.
During the Forum, SAP showcased how cloud solutions on the SAP HANA in-memory platform, SAP S/4HANA real-time business suite, and SAP Leonardo digital innovation system can help brands to anticipate, plan, and manage consumer demand. SAP solutions can also inter-connect with emerging technologies such as artificial intelligence, blockchain, machine learning, and the Internet of Things.
In the Middle East, SAP co-innovates with leading retail and consumer brands – including Saudi engineering and construction firm alfanar, Edita Food Industries, and Souq.com.
Trade Arabia
Ticker | Price | Volume |
---|
06/08/2020
Saudi Arabia’s non-oil private sector stabilised in July signaling an improvement in business conditions at the start of the second half of 2020.
The latest Purchasing Managers’ Index (PMI
Gulf News
06/08/2020
Oman’s thriving mining and mineral processing sector earned RO 114 million in revenues last year, bolstered by a new Mining Law, strong regulatory framework and the industry’s positioning as one of f
Oman Daily Observer
06/08/2020
Banks in Bahrain must play a major role in helping the national economy recover from the global Coronavirus (Covid-19) pandemic and, to do so effectively, will need the ongoing support of all stakeho
Trade Arabia
05/08/2020
The UAE non-oil private sector registered a further recovery in business conditions during July amid a greater easing of lockdown restrictions, according to data from the latest UAE Purchasing Manage
Gulf News
05/08/2020
Last week, the US Federal Reserve set interest rates at near zero, or 0.25 per cent to be precise, and which will add further complications to the Gulf’s financial services industry. This includes pe
Gulf News