Tuesday 19 June 2018

ME retail revenue to hit $1 trillion by 2014

Dubai, January 6, 2013

The retail revenues in the Middle East region are expected to hit a record $1 trillion by 2014, driving rapid adoption of digital signage solutions in shopping malls and retail outlets, said a report.

Advanced Interactive Media Solutions (AIMS), a major player in digital signage solutions market in the GCC, said it aims to builds up presence in the sector as major Middle East retailers take advantage of digital signage to boost business potential.

Reaffirming the widespread adoption of digital signage in retail stores and shopping malls, AIMS has recently completed various high-profile projects with leading retail establishments in the UAE, including a recent upgrade of the way-finding system for The Dubai Mall, one of the world’s biggest luxury shopping malls.

AIMS further revealed that digital signage has become increasingly popular among retailers as it gives them greater control to quickly and easily update or change the messages delivered in-store, catering to the needs of modern, savvy shoppers who expect a state-of-the-art shopping experience.

The retail revenues in the Middle East will sustain a compound annual growth rate (CAGR) of around 10 per cent from 2011-2014 and reach over $1 trillion by 2014, thus serving as a key driving force behind the rapid adoption of digital signage solutions in the region, said the industry expert citing RNCOS market research consulting.

Commenting on the growth, Ahmed El Ridi, the AIMS chief executive officer (UAE) said, "Digital signage technology has made a huge impact on the rapid transformation of the Middle East retail landscape into more of a technology-oriented, customer-focused industry."

"In the past few years, AIMS has supported leading retail brands and major shopping destinations that are now increasingly taking advantage of digital signage solutions to enhance the shopping experience and influence purchasing decisions of shoppers right at the point of purchase," he added.

Indeed, in just a few simple steps specific customers can be targeted directly with information on products, promotions and offers across the store, allowing retailers to ultimately increase their business potential by delivering the right message to the right audience at the right time,” noted El Ridi.

Digital signage, he said, was certainly a great tool to ultimately drive revenues, while keeping advertising expenditure under control as it eliminates high costs related to creating and distributing conventional print-ad campaigns.

"Moreover, it is also much easier to sell digital advertising space, which further optimizes the revenue potential of retailers. We are therefore confident that the robust growth forecast of the region’s retail industry will further add momentum to the continued adoption of digital signage technology in the Middle East," he added.

AIMS integrates the power of Scala content management solutions, internet, interactive displays, mobile applications and communication technologies to develop interactive digital signage solutions for the region.

The company also uses advanced audience measurement solutions to maximise the ROI of each campaign and ensure optimum customer satisfaction.-TradeArabia News Service

Tags: Middle East | retail | Revenue |

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