Riyadh, Saudi Arabia – Stream One of the 7th Retail Leaders Circle MENA Summit concluded successfully following three days of virtual sessions and thought-provoking discussions between the region’s foremost regional government officials, industry leaders, innovators, and other key stakeholders. Under one digital roof, this vibrant community catalyzed partnership and growth development and tried to deliver real solutions for a sustainable and brighter future following the global pandemic.
Chaired by Nisreen Shocair, Group CEO Middle East YOOX, Net A Porter, live from Waldorf Astoria DIFC Dubai, the 2021 Virtual Summit saw more than 60 prominent speakers addressing the critical issues and trends impacting retail today. Over 5.800 participants attended virtually over three days from multiple locations including Riyadh, Dubai, Abu Dhabi, Doha, Cairo, New York, London, and Beijing.
“Despite these unprecedented times, we are hopeful our community was able to benefit from our unrivaled line-up of industry leaders to activate strategic conversations, create cross-border collaborations and inspire ideas in order to stimulate a swift recovery and post-pandemic growth”, commented Panos Linardos, Chairman of Retail Leaders Circle. “We are delighted to receive an overwhelming positive industry response during the Virtual Summit, and we would like to thank our prominent speakers and partners for sharing their knowledge and insights. We look forward to our Stream Two in Riyadh later in the year.”
With a diverse line-up of key speakers, the RLC Virtual Summit discussed the region’s retail landscape during the pandemic and shared their outlook on the future, using data analysis and key trends to deal with today’s consumers and respond effectively to the fluid retail landscape and ultimately strive for growth.
As characteristically noted, physical retail is not dead. However, retailers need to revise their strategies, use data, and focus on their products and the experience they offer in order to thrive. The pandemic has changed consumers’ expectations. With the adoption of touchless technologies, cryptocurrency, and the explosion of e-commerce, brands need to think of more creative ways to interact with their customers. At the same time, health and brands’ responsibility seem to play a major role in consumers’ purchase decisions.
Discussing the region’s future, Saudi Arabia is readying itself for the ‘Roaring 2020s’. It is worth adding that Government funding and pricing opportunities for FDI will enable Saudi youth to implement international thinking locally and develop into designers and business managers.
Moreover, some of the most influential leaders across retail and commerce participated as partners during the Virtual Summit including: Headline Partner, Visa; Retail Transformation Partner, Facebook; Platinum Partners, Chalhoub Group and Tik Tok; Silver Partner, BinDawood; Knowledge Partners, McKinsey & Company, and PwC.
Stream Two of the 2021 Retail Leaders Circle MENA Summit will take place in Riyadh later in the year under the theme “Reigniting Sustained and Inclusive Growth”, bringing together the foremost industry leaders to connect, debate, and navigate the retail industry’s new order.
© Press Release 2021
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