Tag Archives: Oman

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

Luxury retail spending on the rise in the Middle East


By Andy Sambidge

Spending on premium goods and experiences by consumers in the Middle East is on the rise, according to a research on Luxury Spending Tracker.

The tracker said that in all markets except the UAE, consumers plan to increase spending on luxury goods and experiences through to the end of 2012, as their personal circumstances improve. It surveyed a random sample of 1,000 residents drawn from Bahrain, Jordan, Kuwait, Lebanon, Oman, Qatar and the UAE.

It found that residents of Qatar are the biggest buyers of luxury goods across the Middle East, closely followed by consumers in Bahrain.

It said Qataris spend up to $5,000 a month on luxury goods, while consumers in Oman and Jordan are the most conservative shoppers in the region – spending less than $250 per month.

“Consumer attitudes towards spending have begun to improve significantly and there is a noticeable rise in spending on luxury goods and experiences across the region,” said Mazin Khoury, CEO, American Express Middle East.

Luxury products such as cars, high end electronic goods and fashion accessories were identified by respondents as preferred purchases over experiential luxury such as holidays and spa treatments this year.

Fashion topped the list of preferred purchases in 2012, with 37 percent of respondents saying they enjoy shopping for fashion-related items.

Cars were also a leading luxury purchase in 2012, with 31 percent of respondents planning to buy new vehicles this year.

Automobile purchases were highest in the UAE with 42 percent looking to buy new cars in 2012, compared to only 24 percent of Bahraini respondents.

Consumer spending on food and dining out was also highest in the UAE, a likely reflection of the considerable array of international dining options in the country, the tracker showed.

Consumers said Dubai was the region’s prime location for purchasing branded luxury products, selected by 65 percent of respondents.

The emirate was named the preferred shopping destination by 88 percent of respondents from the UAE, 81 percent from Oman, 78 percent from Bahrain and 67 percent from Qatar.

Khoury added: “The inclination towards acquiring tangible luxury goods as opposed to participating in luxury experiences is in keeping with the new consumer sentiment that demands greater value for money.

“Tangible luxury offers greater perceived value as consumers can experience the rewards for their investment over a longer period.”

Read morehttp://www.arabianbusiness.com/mideast-luxury-retail-spending-on-rise-479672.html
Picture– © and credit to Faran Niaz 2012

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Filed under Abu Dhabi, Consumer, Luxury Middle East, Retail, UAE