Experts at Arab Luxury World, an event showcasing luxury goods and services for the gulf region, urged businesses to develop new markets by adopting new retail strategies and marketing approaches in the region.

This year’s event is being held under the theme ‘The New Normal’ and examines latest ideas and trends in the luxury industry in light of the prevailing tough economic conditions in the Gulf region.

The event featured over 30 panel discussions, presentations and private sessions. Key agenda highlights of the conference included ‘GCC outlook’, an analysis of oil prices, government budgets and subsequent effects on the luxury market; ‘Digital Strategy’, an analysis of the digital transformation and its impact on the premium goods and services industry; ‘Luxury Brands and Programmatic: Redefining the Model’, which evaluated how pragmatic advertising has transformed the online ad-buying model; and ‘Fashion Trends’, which reflected upon emerging fashion and designer trends.

The event witnessed a number of industry-leading speakers including Deloitte senior tax partner Justin Whitehouse; HP’s global head for alliances, partnerships and customer marketing Jean Pierre Le Calvez; and CEO of Dubai Design and Fashion Council Nez Gebreel.

Event highlights widely anticipated today include ‘From Product to Emotion’, discussing how brands can reconnect with Arab consumers; and ‘Influencers’, analysing campaigns from the region and abroad that featured influencers.

Arab Luxury World sees 700 regional and global professionals from the premium goods and services sector congregate in Dubai to discuss problems and offer solutions to all of the industry’s stakeholders. It brings together luxury brands, agents, distributors, mall operators and service providers to the luxury industry all under one roof, where they discuss the challenges and opportunities facing the industry. Delegates seek to understand consumers' insights through unique research, to make sense of major disruptions in the business of luxury and to find ways to achieve growth.

Another key highlight was the GCC outlook, a regional analysis taking into account the current downturn in oil prices, government budgets and the overall effect on the luxury market. This is extremely topical and links into a current industry-wide trend of companies working hard to create new job opportunities in this challenging environment.

Arab Luxury World is being held at The Westin Dubai Mina Seyahi. Today is the last day of the event. –TradeArabia News Service