Retail

Switch is delighted to announce the unveiling of its revamped website, showcasing a fresh design and a groundbreaking 3D customization tool.

New predictions from Aruba, a Hewlett Packard Enterprise company, revealed at NRF 2023, detail how retailers will leverage technology to get ahead of evolving customer demands and operational challenges over the next 12-18 months.

The highly anticipated two-day Summit remains the ultimate face-to-face, industry networking event, taking place on March 14 and 15 at two iconic locations including Atlantis

Tabby, the Middle East's leading payments and shopping app, and Paymob, the leading omni-channel payments facilitator in MENAP, have announced a partnership to fuel growth for Egyptian retailers by allowing businesses across Paymob's network to benefit from Tabby's split-in-four, interest-free payment solution via Paymob's gateway. Tabby and Paymob work together to provide a seamless Buy Now Pay Later solution for both in-store and online retailers.

In the run-up to Black Friday, a key shopping day for many retailers across the region, TikTok has announced the launch of a podcast series titled 'The Future of Retail.' The podcast will be hosted by Aref Yehia, Head of Retail & E-Commerce Business Partnerships at TikTok MENA, and will feature discussions with some of the retail industry's heavy hitters. TikTok channels will have full-length episodes available for both audio and video streaming. Although there have never been more opportunities in the business world, there has also never been more competition.

Microsoft announced that Majid Al Futtaim Retail, the operator of the Carrefour retail brand in 16 countries across the Middle East, Africa, and Asia, has transformed its financial planning and analysis (FP&A) capabilities by leveraging the power of the Microsoft Azure Data Platform. The finance team at Majid Al Futtaim Retail used the Azure Analytics Platform to fully automate financial and operational reporting and create a single source of truth for decision-makers. Data silos posed a significant challenge for Majid Al Futtaim Retail.

Sophos, a global provider of next-generation cybersecurity, released a new sectoral survey report, The State of Ransomware in Retail 2022, which discovered that retail had the second highest rate of ransomware attacks among all sectors surveyed last year, trailing only the media, leisure, and entertainment industry. Globally, 77% of retail organizations surveyed were affected, representing a 75% increase from 2020. This is also 11% higher than the overall attack rate of 66%.

Businesses in the UAE are doubling down on mobile apps in an effort to increase customer engagement and spending, and the overall number of mobile app installs in the country is up 23% in H1 2022, compared to the same period last year. While finance apps were the most successful, with installs increasing by an astounding 183%, other categories that experienced significant app install growth included entertainment (31%), travel (36%), social (30%), and food & drink (15%).

“With the economic climate the way it is, and consumers increasingly cutting back on spending, it’s crucial that businesses think strategically about how they can continue to attract and retain customers. Our gifting solution is best in class and an innovative way to secure customer loyalty, we are excited to be bringing it to the market at such a pivotal time in the retail industry,” said Prerna Sonawane, VP MENA Partnerships at Merit Incentives.

Increasingly sophisticated ways of incorporating intelligent technology into grocery retail are driving the sector deeper into the digital transformation. This reality is not simply changing the industry but revolutionising it entirely. The fusion of digital and physical experiences is expected to accelerate further, according to Deloitte’s 2022 retail industry outlook report. The research identified retail industry leaders (respondents with aggregate scores in the top 25%) and industry laggards (those in the bottom 25%).