Tag Archives: Kuwait

A Survey on Executive Customer Service Training

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Please accept this invitation to participate in a new Sacha Orloff Group survey on Executive Customer Service Training.

Survey link: http://bit.ly/1ui9LKZ 

This survey will explore what organizations are seeking to achieve when investing in customer service training. We explore impacts on performance: productivity, profitability and long-term competitiveness.

The survey will provide critical information on what benefits business gain from understanding the importance of customer service excellence in its value-chain; and how companies grow and retain their customers and empower their employees within their organizations. We are seeking the views of executives and managers in all industries, functions, and tenures. The survey takes less than 5 minutes to complete and your opinion will make a significant contribution to our work.

Should you like to receive our research, please fill in page 2 of the survey. Sacha Orloff Group would like to thank you for helping us with our research,

For any questions, don’t hesitate to contact us at strategy@sachaorloff.com

Best regards,

Alexandra de Kerros Boudkov Orloff
CEO, Sacha Orloff Group
http://www.sachaorloff.com

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GCC retail sector is robust

imagesThe GCC’s retail sales are expected to grow at a CAGR of 7.7 percent from end-2011 2 to reach $270.3 billion by 2016, was said in a report Sunday.

Food retail sales are anticipated to expand at a CAGR of 8.8 percent during this period while non-food retail sales are likely to grow at an annual average growth rate of 6.6 percent. Food sales growth will outperform non-food sales growth during the forecast period as high-value and healthier food products could find greater demand.

Sales of supermarkets and hypermarkets in the GCC are expected to grow at an annual average rate of 10.5 per cent between 2011 and 2016. The relatively under-penetrated markets in terms of modern grocery retail formats like Saudi Arabia, Qatar and Kuwait are likely to outperform in this segment.

Duty free and travel retail sales in the Middle East are forecasted to grow at a CAGR of 11.6 percent from 2011 to 2016, outperforming the broader retail industry in terms of growth. The outlook for the luxury segment remains positive and is expected to expand at CAGR of 8.2 percent between 2011 and 2016.

The region’s retail sector has displayed strong resilience in the face of global economic downturn and is expected to continue to grow at a steady pace given its attractiveness to tourists and residents, geographic location, developed logistics and availability of diverse shopping options. While the sector presents attractive opportunities, it is highly competitive and retailers need to continue to innovate so that they can achieve sustainable growth and profitability.

“Retail industry, which is one of the fastest growing sectors in the GCC, has thrived over the last several years due to increasing purchasing power, growing expatriate population, changing lifestyle and an expanding tourism & hospitality industry. Retailers have benefited from the government initiatives and progressive policy agenda and have a healthy period of growth ahead of them”, said Sameena Ahmad, Managing Director at a consultancy.

“The region’s retail sector has displayed strong resilience in the face of global economic downturn and is expected to continue to grow at a steady pace given its attractiveness to tourists and residents in terms of geographic location, developed logistics and availability of diverse and quality shopping options. While the sector presents attractive opportunities, it is highly competitive and retailers need to continue to innovate, so that they can achieve sustainable growth and profitability,” said Mahboob Murshed.

Food retail sales are anticipated to expand at a compound annual growth rate (CAGR) of 8.8 per cent during this period while non-food retail sales are likely to grow at an annual average growth rate of 6.6 per cent. Food sales growth will outperform non-food sales growth during the forecast period as high-value and healthier food products could find greater demand. Sales of supermarkets and hypermarkets in the GCC are expected to grow at an annual average rate of 10.5 per cent between 2011 and 2016.

The relatively under-penetrated markets in terms of modern grocery retail formats like Saudi Arabia, Qatar and Kuwait are likely to outperform in this segment.

Duty free and travel retail sales in the Middle East are forecast to grow at a CAGR of 11.6 per cent from 2011 to 2016, outperforming the broader retail industry in terms of growth. The growth projection has been revised upwards from the previous report primarily in anticipation of higher passenger traffic at the Abu Dhabi and Qatar airports and concourse 3 plans at the Dubai Airport.

The outlook for the luxury segment remains positive and the luxury retail sales is expected to grow at a CAGR of 8.2 percent between 2011 and 2016. While retail sales in all the countries across the GCC region is expected to register positive growth through 2016, the outlook for Saudi Arabia is the most optimistic .The retail industry in Saudi Arabia is projected to expand at a CAGR of 9.5 percent between 2011 and 2016. All the other GCC nations are likely to register retail sales growth of around 5 percent-7 percent during the same period.

Based on a Moderate Growth scenario calculated at 80 per cent occupancy over the next five years for the supply-side estimates, occupied gross leasable area (GLA) in the GCC is projected to reach 15.8 million sq m in 2016 compared to 11.4 million sq m in 2011 growing at a CAGR of 6.8 percent during the same period. Retailers are expected to continue their focus on improving efficiencies and making optimum utilization of retail space.

Although the projected GLA additions in the GCC are unlikely to create an over-supply situation and vacancy rates are expected to remain under control, retailers may be selective in picking the right space for their stores in shopping malls.

There are several factors contributing to the growth of the GCC retail sector. A consistently expanding population base, young population and growing urbanization make demographics of the GCC highly attractive for retailers of both essential and discretionary products. A growing GDP, substantial government spending on infrastructure and healthcare, low fuel prices and low or no tax incidence, free up a substantial portion of individuals’ income for consumption of food and non-food items and fuelled the growth of the retail industry. GDP per capita (PPP) of all the GCC economies is high and is expected to see a healthy growth. — Saudi Gazette

Read more: http://bit.ly/Z9B1vb

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Filed under Consumer, Luxury Middle East, Retail, Saudi Arabia, UAE

Italy-Qatar invest 4bln euro in joint business venture ‘ IQ Made in Italy’

ROME, NOVEMBER 19 – The Italian Strategic Fund (ISF), controlled by the CDP and Qatar Holding (QH) signed an agreement today for the establishment of a joint venture called ‘IQ Made in Italy’.The ISF and QH pledged 4 billion euro to the project over the next four years with an initial installment of 300 million euro. The agreement was signed during Mario Monti’s visit to Qatar today.According to a statement IQ Made in Italy Venture will invest in Italian businesses operating under the ‘Made In Italy’ umbrella. These include food production, fashion, design, tourism and lifestyle. ßß”By combining the local know-how of the FSI with the global comprehensive knowledge of QH, the venture is able to provide companies with a unique set of skills that enhance growth processes” said the CDP, a joint-stock company under public control.

The FSI and QH will run IQ Made in Italy with joint governance.

“This first accord with Gulf investors is of great importance for the whole group”, said CDP President Franco Bassanini, “because it will foster the development of other co-investment deals with both the IFS and other instruments of the Group”. “We are really pleased with the accord with a partner of high quality”, said IFS President Giovanni Gorno Tempini.

“The joint venture shows how certain sectors of the Italian economy can be tempting for foreign investors who understand the potential for global expansion”, he added. Italian Premier Mario Monti on Monday said he is satisfied with Italy-Qatar cooperation. ”It is multiform, with a great deal of commercial relations in both directions, and which today are moving on the investment front,” the premier said.

The premier also voiced his satisfaction at the signing of a joint venture agreement between Italy’s Fondo Strategico Italiano (FSI) and Kuwait’s Al Qurain Holding Company (QH). ”Corporate governance is equal, and the Italian part assumes a good finalization of these investments,” the premier said. He used this example to point out that anyonw who thinks foreign acquisitions in Italy are a way to sell out ”is making a huge mistake.” (ANSAMed)

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Read more: http://www.ansamed.info/ansamed/en/news/nations/qatar/2012/11/19/Italy-Qatar-invest-4bln-euro-joint-business-venture_7821353.html

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Filed under Investment, Luxury acquisition, Retail

Middle East Retail Expansion – A Portfolio of Opportunities – Study

 

 

Middle East and North Africa (MENA) includes eight of the top 20 countries in the Global Retail Development Index (GRDI)™ – and, despite the region’s political turmoil that has gripped the world since December 2010, including government overthrows in Tunisia and Egypt, civil war in Libya and protests in numerous other countries, it remains a promising retail growth opportunity.

The study reveals that its economy is recovering from the recession, with a growing consumer confidence, most countries are expecting 3 to 5 percent GDP growth over the next year, disposable incomes are high, with an ever rising young and middle class population; the consumer base is ever more connected and engaged.

Prior to the events that haven taken place in the middle east during this year, many barriers already were in existence including :foreign ownership regulations that differ from country to country, the high share of family-owned businesses, the comparatively fragmented retail landscape, and limited foreign ownership outside free zones in most countries. These challenges need careful attention by any retailers considering expanding their businesses, however with a positive outlook for the future.

Kuwait: Small but highly attractive.

Kuwait, 5th in the GRDI, remains MENA’s highest-ranked country. While it has only 3.1 million inhabitants, 96 percent live in cities and 65 percent are between the ages of 15 and 39. These demographic trends have led to retail sector growth of 8 percent annually over the past five years. Overall, retail sales are expected to grow from $8.41 billion in 2011 to $11.92 billion in 2015.

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Filed under Luxury Middle East, Study