Supermarkets and hypermarkets must capitalize on technological developments and create the perfect mix of instore and online offerings to meet consumer demand to remain relevant. That is the message from Ashraf Ali M.A, LuLu Group International Executive Director. This is a robust new conference series exploring the latest challenges and opportunities facing the industry. Speaking ahead of his participation in a panel discussion ‘Revolutionizing Retail for the Changing Consumer’, Ali believes retailers should prioritize the convenience of customers as they seek to service an estimated one million extra consumers by 2030.
“There will come a day when the one-store format won’t fit all the lifestyle preferences of your customer base. Segmentation and customization are required to ensure convenience whether online shopping or the brick-and-mortar store. Innovative formats, such as self-service check-out counters, cashless and card payment options, smart trolleys, click and collect on, virtual marketing and augmented reality, all must be embraced so consumers benefit from a world-class shopping experience at the most convenient format,” Ali explained
Shifting consumer choices are driving retailers to think more about their offering, with the Gulfood Global Industry Outlook Report 2018 stating: “For middle to premium consumers, a shift to local and specialist stores is driving sales of premium, natural and organic foods, allowing traditional and independent grocers to maintain their market share at 26 percent globally. All leading global retailers have also adopted omnichannel approaches to the market, with large investment establishing a strong presence in mobile retailing.”
Gulfood 2019 features
The summit is one of eight new features integrated into Gulfood, which this year celebrates its 24th edition. The event takes up more than 1,000,000 square feet with 5,000 exhibitors promoting a vast range of new products, concepts and technologies. The organizers expect this year’s gathering to attract upwards of 98,000 attendees from 198 countries.Add to Favorites