JEDDAH — The two-day InRetail Summit Saudi Arabia 2015 kicks off today (April 13) at Park Hyatt Jeddah, convening the retail elite experts and industry pioneers across the Kingdom. The summit will discuss the challenges facing the industry and how to handle the growing demand from the citizens and residents of Saudi Arabia for all types of merchandises and luxuries. Mohi'adin Yahya Hakami, Deputy Secretary General of Business Sectors of the Jeddah Chamber of Commerce & Industry (JCCI), supporter and speaker at the event, has stated: “Kingdom of Saudi Arabia is the largest economy in the gulf region with an average of SR15,000 per capita. According to recent reports, the retail sector in Saudi Arabia has reached SR23.7 billion. The credit goes to various effective factors such as the high annual income, large percentage of youth, increasing consumption rates and the continuous growth in the number of shopping centers, malls and commercial stores in this prosperous market”. Hakami indicated: “To benefit from the promising opportunities the Saudi retail market offers, we have to understand its directions, the needs of the consumer and the common shopping behaviors. This is where the InRetail Summit comes in to shed the spotlight on the important issues and topics that the sector pioneers need to tackle and address properly.” Mohammad Alawi, the CEO of the Red Sea Markets Limited Company and the chairman of the second annual InRetail Summit, said: “The InRetail Summit intends to convene shopping mall owners, retail corporate executives, business developers and solutions architects to discuss the upfront challenges that faces the Saudi retail sector which will be the pivot topics of the summit. For the success of the summit, the audience will further elaborate on redesigning the retail sector to suit the contemporary consumers, seizing new opportunities, reviewing and discussing the government mandates and regulations related to the sector. It should tackle the need for reinventing the competitive advantage, as well as discussing how to leverage on the digital revolution and the need to adapt with it.” He added: “The summit will also review the new anticipated malls environment and discuss all the means to ensure sustainability for the sector. As well, the participants will review the directions and solutions should be taken that will contribute to a better future for the retail sector in Saudi Arabia.” InRetail Summit Saudi Arabia is considered the sole event that tackles the challenges faced by the Saudi retail market with a unique convention of local, regional and international experts. They will share and present ideas through individual presentations, discussion and focus groups that will provide everyone with lots of information about the local market. It will also expose them to the strategies by which the retail companies need to succeed in the market. — SG
