DDi - January 2013 - (Page 34)
Retailers the world over give their global insights on today’s consumer
By Alison Embrey Medina, Executive Editor
s technology enables the global retail network to continue to grow wider and broader, differences among various segments of the retail world appear to get smaller and smaller. Retailers across
the globe face many of the same challenges, concerns and obstacles, yet must go to market with consideration of the varying nuances for customer segments in various markets of the world. To get a deeper look at what is driving the consumer in these different corners of the globe, DDI interviewed retailers and retail analysts from across the world, asking their perspectives on the current consumer trends and economic landscapes of their respective market regions. Read on for a fascinating mix of perspectives on the shape of retail today—and tomorrow.
What does the economic/retail landscape curently look like in the Middle East? The economic environment within the Middle East is still buoyant, being driven by high oil prices; thus translating into more disposable income per family unit. This in turn is driving the need for more retail innovation and a better experience. The traditional franchise models for tried and tested concepts are beneﬁtting from this drive. However, some innovation is also coming from homegrown concepts, which are adding a much-needed local ﬂavor to the landscape. What nuances does the Middle Eastern market have that the rest of the world may be blind to? One of our main nuances tends to be the lack of a structured supply-chain network for products. As in other markets, product availability is not seen as a hindrance, due to a strong supply chain and well-established distribution networks. However, in general, this is not the case in the Middle East, as most of the onus tends to fall onto the retailer, which can impact business and also restrict variety for the consumer. How are consumers changing? In general, consumers are changing due to the effects of globalization and new opportunities for travel. Therefore, this exposure is driving greater consumer expectations and demand. Additionally, this is supporting better product selection and more innovation within retail environments. What new retail trends are you seeing? Global brands continue to proliferate. Upscale shopping environments, which support this proliferation, are beneﬁtting from this surging need. Trends for bricks-and-clicks concepts also are showing signs of growth, but opportunities remain untapped. The long-term vision related to multichannel opportunities needs to be future-focused. How do you see retail stores changing in the next ﬁve years? I see a lot of organic growth. However, innovation, value and service will probably be the main differentiators in determining whether a retail concept succeeds. I also see many homegrown concepts becoming more organized, translating into better designed and more innovative store environments.
President and Founder, Fantasy World Toys
Table of Contents for the Digital Edition of DDi - January 2013
DDi - January 2013
Table of Contents
From the Editor
From the Show Director
Great Dane Furniture
Retail Design Collective
Shopping with Paco
DDi - January 2013