Connect with us

Human Interest

GCC Shoppers Prefer a Mix of Online and Offline Channels

DALL·E 2024 01 25 18.11.24 A realistic and vibrant image depicting a busy shopping mall in the GCC region with shoppers engaging in both in store and online shopping

Embracing the Digital Shift with a Human Touch

In a world where digital consumption is rising rapidly, GCC consumers are showing a distinct preference for a blend of both online and offline shopping experiences. A study by global management consulting firm Oliver Wyman reveals that 87% of GCC shoppers utilize a mix of channels for their purchasing needs, emphasizing a trend that’s reshaping the retail industry across the Middle East and North Africa (MENA), especially in the GCC region.

The Rise of Ecosystem Platform Players

The retail landscape is evolving with the emergence of ‘service clusters’ as the boundaries between industries blur, expanding offerings to cater to a wide array of lifestyle needs. These clusters are not limited to retail but also encompass entertainment, hospitality, food, banking, and payment services, crafting a comprehensive experience for consumers.

Tailored Experiences and the Ecosystem Approach

GCC consumers have high expectations for personalized shopping experiences, noticeably more than their global counterparts. They favor an ecosystem approach that provides a seamless blend of services and experiences, potentially unlocking a revenue pool of USD 1 trillion across the MENA region.

Challenges and Strategic Growth

To achieve sustainable growth, the retail and consumer goods (RCG) sector must navigate challenges such as intense competition, the rise of disruptive digital business models, and a complex regulatory environment. Companies are urged to develop strategic growth plans that are adaptable to this dynamic market.

Oliver Wyman’s Strategic Advisory in RCG

Strengthening its focus on the RCG sector in the region, Oliver Wyman aims to leverage its global expertise to offer strategic guidance to businesses aiming for transformation and growth.

Conclusion

The preference for hybrid shopping methods among GCC consumers is a sign of the evolving retail sector, where integration of online and offline channels is becoming increasingly important for retail success.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending