GulfBase Live Support
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.
In line with the Dubai Blockchain Strategy, announced by Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, crown prince of Dubai and chairman of The Executive Council, which mandates that Dubai becom
Dubai's real estate will feel little impact from the UAE's recent introduction of VAT, with nearly 85 per cent of the industry’s components tax free, officials said on Tuesday.
The UAE has
Qatar Chamber board member Ali Abdul Latif Al Misnad has said that the chamber is committed to providing all possible support for the private sector in order to do its expected role in the economic b
UAE banks continue to perform well, albeit at lower levels of profitability caused by costs growing at a faster pace than operating income, according to the latest UAE Banking Pulse report from Alvar
The Sharjah Business Women Council (SBWC) and the Sharjah Economic Development Department (SEDD) have launched a platform available to women entrepreneurs, aimed at accelerating processes such as app