Dear reader

Looking ahead with optimism!

As we look ahead to 2021 with optimism, we cannot quickly leave behind 2020 and the disruption wrought by the COVID-19 pandemic to move on to return to a level of normalcy in the new year.

While it is hard to gain insights from such an unpredictable year that caused a setback on a retail industry that had already begun adapting to new realities and digital strategies, there are lessons that the industry can learn. It may help it to make informed decisions from now on.

E-commerce retailers were quick to rise to the occasion by filling the gaps which pureplay brick & mortar retailers could not fill during and after the lockdowns. The e-commerce sector in the GCC alone is forecast to more than double to $50 billion in the next five years, up from $24 billion in 2020, as pandemic-related movement restrictions lead to a shift in the region’s shopping habits.

2020 also marked our 10th anniversary and was not an ideal year! However, despite the challenges, what we could achieve as our contribution to the industry was not just remarkable but trendsetting.

The 9th edition of the Middle East Retail Forum (MRF) and 10th annual Images RetailME Awards was held at Conrad Hotel Dubai on November 25 and were among the first physical events. More than 250 delegates attended the MRF while thousands of others could view the full-day proceedings’ live broadcast.

The RetailME Awards ceremony also drew a near houseful audience to witness 20 brands and personalities across 16 categories honoured.

COVID-19 has changed the global economy forever. While vaccines might bring back confidence and normalcy to life, the retail sector might not be the same again. The technology-led disruption with data analytics, artificial intelligence, machine learning, perceptive analytics, and changing consumer behaviour will forever reshape the retail industry landscape.

Look out for our February 2021 edition for more updates and industry insights!