PwC released its latest report under the title Explore the reality of the new retail sector: the views of CEOs in the Middle East retail sector. < / p> The report, obtained by a copy of it, presents the views of retail executives from across the region, with whom PwC interviewed during the past year. To know their views on the reality of the market and the perceived expectations for the next year.

According to the results of the interviews, technology and changing consumer behavior and the unstable economic and geopolitical landscape were the most important guiding factors affecting the decisions of CEOs this year, and these trends have imposed their own priorities that Among them is achieving strong momentum in the field of digital transformation (which 88% of CEOs rated as a top priority), followed by cost optimization and restructuring (50%), and challenges related to a lack of digital talent and training (50%).

Commenting on this report, Norma Taqi, partner in charge of the consumer markets sector at PwC Middle East and the author of the report, stated that modern technologies help to enhance the efficiency of transactions. The speed of home delivery and inventory management, but there are also results that show that CEOs in the Middle East retail sector still face the biggest challenge: the scarcity of local digital talent and the training required.

The survey shows that retailers today, with more caution surrounding the outlook for the economy than ever before, are increasingly focusing on streamlining their business, managing cash flows, And improving costs, as they are well aware of the need to build sustainable businesses for the future in addition to the change in consumer requirements, and both require retailers to be flexible and prudent. This is especially true of retailers ’use of new technologies that combine traditional shopping and online shopping to create a fun, smooth and multi-channel experience.

< With the growing pace of online retailing, executives demonstrate a commitment to continue investing in digital channels, not only as a way to reach their customers, but also to focus on return on Experience, which is now an urgent necessity. Sharing customers ’personal experiences in stores and online influences all potential retailers’ purchasing decisions.

In PwC's survey on total retail trade in the Middle East for 2018, the results indicated that 32% of respondents buy products based on positive feedback on networks Social media, and this fact applies especially to sectors that attract a large base of millennial customers such as beauty products and comfortable fashions suitable for life, sports, health and hospitalization.

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