The industry which is estimated to touch US$285 billion in retail sales in GCC by 2018 can have better prospects by focusing more on the digital ecosystem.
Abdul Rahman Falaknaz, Chairman of International Expo Consults, stated that the retail sector in the UAE must adopt innovative technology solutions to stay ahead in the business especially during these summer months. As per reports GCC retail sales are expected to touch US$285 billion.
"Both Dubai and Abu Dhabi are key retail hubs in the GCC region and Dubai ranks a close second to London globally as one of the most sort after retail destinations. With the onset of summer the country sees a lot of expatriates and local residents leaving for vacations. The market dynamics change during this period as several tourists come to the country and are new to the city. But the question is how to attract them? Is it as easy as putting a sale banner on the store window. These things would have worked well 5-10 years ago. But not now. The retailers who innovate by using augmented technologies will win the game for them," added Falaknaz.
Levels of interactivity with digital signages have gone a notch higher and these include touch, multi-touch, augmented reality, gesture control to mobile and social media integration. These interactive retail digital signages are set to redefine the signage industry's canvas in the GCC region. These systems can be found in varied environments such as retail stores, hotels, restaurants, healthcare institutions, amusement zones to corporate buildings, among many other locations. Dubai Mall is a great example for some of the best digital signages.
"Dubai's free economy status encourages retailers and brands from across the globe to launch their products and ventures in Dubai and then to the other markets in the GCC. Dubai becomes a launch pad for them. However, this market functions a little differently than the western counterparts as we host over 200 plus nationalities in the country so the marketing strategy needs to be customised for the local market consumption. Only then will it have an impact on the bottom-line," stated Mr. Falaknaz.
Dubai's strategic location, along with its state-of-the-art infrastructure and logistics facilities, makes it an ideal location for companies to centre their retail operations for serving the regional markets. The city's fast transformation into a smart city also augurs well for its retail industry.
"UAE is one of the most developed retail markets in the GCC region. However, figures suggest that retailers will find it tough to retain profits this summer due to the strong dollar and falling oil prices. Therefore, the challenge lies in innovating and overcoming the hurdles posed in this market. As the growth of digital signage in the MENA region takes a huge spiral upwards it is also becoming popular as its uses are also evolving. The key differentiator for many organisations is engaging and empowering the use of 'interactivity' through digital signages. If it is not interactive - it is not in," said Sharif Rahman, CEO, IEC.
Digital signage avenues have witnessed a rapid growth surge in the region as the retail market has evolved drastically over the past few decades which have boosted the signage industry. With the onset of this new technology, the retail sector is poised to get a makeover with new interactive digital signages in the Middle East and North Africa (MENA) region.
IEC believes that interactive retail digital signages would be a game changer for the industry in the coming years. Furthermore, the worldwide digital signage systems market is poised to touch $13.8 Billion by 2017 as per a report by Global industry Analysts Inc.
Digital signage is a medium of electronic display that exhibits television programming, advertising, menus, information and several other messages. Digital signs such as LCD, LED, and digital billboards can be found at single or multiple locations. Mall of the World, the latest addition to Dubai's retail, hospitality and leisure offering, is expected to boost visitor numbers and further strengthen the emirate's mall development pipeline.
There is an exclusive pavilion for digital signage exhibitors at the SGI Dubai 2016 show due to the exponential demand in the industry. The show will be held from January 10th to 12th at the Halls 3, 4, 5, 6, 7 and 8 at the Dubai World Trade Centre. This forum will also include seminars and workshops conducted by industry experts. SGI Dubai 2015, an official DSF event welcomed over 400 global exhibitors from across 34 countries and registered over 12,781 trade visitors from 78 countries.
SGI Dubai 2016 will take place from January 10 – 12, 2016 at the World Trade Center in Dubai (UAE).
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