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Dubai / Emirates Business
Smart Stores Expo, a trade show devoted to showcasing the latest trends and technologies shaping the future of retail, is back with its second staging slated September
4 – 6 at the Dubai International Exhibition and Convention Centre. Building upon the success of its launch in Abu Dhabi, the event comes at an opportune time given the bright outlook of GCC retail, with technology innovations being cited as a key driver of growth.
A report by Alpen Capital revealed that the GCC retail sector is forecasted to grow at a record high of $313.2 billion by 2021, driven
by an expanding population base, high per capita income, increasing tourist arrivals, and mega international events.
Meanwhile in the UAE, an analysis by the Dubai Chamber of Commerce and Industry found that the country’s retail sector is projected to expand at a compound annual growth rate (CAGR) 4.9% and reach $71 billion by 2021.
Changing consumer preferences, the spread of digital devices and increasing number of people connected over the internet were also found to be propelling the change in the region’s retail landscape.
Moreover, technology innovations and modern store formats with smart interiors were cited as key trends transforming the in-store experience.