CEOs Of The Kingdom's Largest Retailers To Discuss Upcoming Opportunities

Online, April 15, 2013 (Newswire.com) - CEOs of the largest retailers in the Kingdom will meet in Jeddah later this month to discuss the latest opportunities and immediate challenges facing the industry. InRetail Summit: Saudi Arabia will be hosting retail executives to discuss global retail trends, development strategies, growth and challenges that the Kingdom's retail industry is currently experiencing at the Park Hyatt Jeddah on 29-30 April 2013.

The Saudi Arabian retail market is experiencing tremendous growth. According to a recent Oxford Business Report, the retail sector represents 17% of Saudi Arabia's GDP, making it one of the most-significant players in the local economy. To sustain this growth, retailers, retail real estate developers and mall owners have to focus on developing new strategies to anticipate and meet shoppers' needs.

"The retail industry is rapidly changing and will continue to move at a fast pace. Consumers now have countless retailers to choose from. With the rise in the use of smart phones; shoppers can shop just about anywhere" says Ayana Everett, Conference Manager at DMG Events. "It is important for retailers to get a better understanding of consumers' behaviours and develop plans to meet their needs for the future. This summit gives us the opportunity to understand global trends and how to reshape business models to reflect these trends and create a competitive advantage."

Just as important, mall owners and developers will have to attract top retailers to increase footfall. According to Jones Lang LaSalle's report, "...the amount of retail floor space in Saudi Arabia has increased rapidly, with the area of mall based retail space increasing by almost 80% in Jeddah and 65% in Riyadh since 2005."

Mohammad Alawi, CEO of Red Sea Market Group states, "Today's retailers are looking to be located in optimal retail spaces that will attract large numbers of shoppers. It is up to mall owners and developers to create an environment that is attractive to retailers and shoppers to stand out in today's market place. " He adds "For the retail industry to achieve substantial growth, retailers, mall owners and developers need to have a platform where innovative ideas can be shared and discussed. Many retailers are planning to expand their operations and open new outlets. This event provides the perfect opportunity to learn their future plans."

InRetail Summit: Saudi Arabia, will feature over 30 retailers who will share their insights on a range of topics that include predicting new opportunities, developing innovative growth strategies, offering unique customer experiences, and entering into the e-commerce space.

Key brands that will be participating at the summit include Jarir Bookstore, Eye 2 Eye Optics, Azizia Panda United Company, United Electronics (extra), Granada Center, Dar Al Bandar Trading, Arabian Oud and many more.

For more information on the latest confirmed panels and experts on the InRetail Summit: Saudi Arabia please visit www.inretailsummit.com/saudiarabia .

MICE Arabia and dmg events are the organisers of the InRetail Summit: Saudi Arabia and have been organising high level market-leading business events for over 20 years. dmg's conferences & training division provides highly specialist, bespoke professional conferences and training programmes that are designed to deliver firsthand knowledge on functional and industry specific sectors.