While Covid-19 has driven a global surge in online retail sales and led to huge increases in profits for large retailers like Amazon, it has also boosted support for independent and smaller businesses.
There are a number of reasons consumers are opting to spend with independent businesses and micro-entrepreneurs. They may value a more personal experience, enjoy the story of the entrepreneur behind the business and appreciate products which may have been handmade and produced locally.
From a place perspective, artisan businesses can bring with them a sense of vibrancy to local high streets and malls, providing unique products and experiences that often can’t be found elsewhere, or online.
At a time when shopping centres, high streets and malls are suffering from the result of widespread store closures, there is growing opinion that artisan businesses should be embraced, as it is these businesses who bring a sense of identity and counterbalance the concept of dull, homogenised high streets or shopping centres.
The UAE is home to some of the world’s leading brands, with their flagship stores offering unrivalled brand experiences and a seamless omni-channel experience too. This provides shoppers with a wealth of choice and availability at their fingertips, in addition to immersive in-store experiences. But it’s important that each mall, place and shopping arcade still has its own sense of identity, offering a clear unique selling proposition for shoppers.
As part of Dubai’s recovery from the pandemic there is now an ever-increasing focus on start-ups – in fact, much like the UK the retail and business landscape have and continue to transform – both naturally and as a result of various measures and programmes put in place post-pandemic.
For example, Dubai Chamber has narrowed its focus to encompass the small and medium businesses sector and is currently preparing to launch a new programme for more established startups in Dubai, as well as a new edition of the Dubai Startup Hub networking series to offer guidance on how to launch startups in particular sectors. It also plans to launch a comprehensive report on the startup outlook for 2021 by the end of the year.
In fact, nearly two thirds of UAE residents (62 percent) would prefer to be self-employed, according to a new survey by job portal Bayt.com. Amongst those that are currently employed, 70 percent are thinking of starting their own business. This shows that a strong entrepreneurial spirit is alive and well in the region, and if this burgeoning talent is nurtured in the right way, the UAE could look to compete at a global level.
The new edition of the Dubai Startup Hub networking series will offer guidance on how to launch startups in particular sectors
As consumers globally become increasingly aware of issues like sustainability, climate change and plastic waste, it’s important that brand values and ethics remain consistent, whilst reflecting and serving their diverse shopper bases.
Technology allows for a brand experience that is personalised to the needs and wants of today’s shopper, but the savvy shopper of tomorrow may also seek brands who align with their personal values too.
Many see smaller businesses as better placed to deliver on this – smaller-scale methods of production allow for greater transparency of process, younger and entrepreneur-led businesses can often exercise greater flexibility and innovation when adapting to local trends, and they can also bring to market products made locally that can’t be found elsewhere.
The UAE are hot on the heels of countries such as the UK in terms of the ever-evolving SME landscape
In time, these homegrown brands become contributing legacies of the places in which they were founded. For example, the independently owned UK brand Barbour is not just a successful global fashion brand, it is a proud source of heritage for the UK textiles industry.
The UAE is playing catch up, with the recent reshuffling of the UAE government in a bold, strategic move aimed at harnessing the power of the digital economy in the post-Covid era, with the appointment of a new minister of state for entrepreneurship and SMEs, Ahmad Belhoul Al Falasi highlighting the sector’s importance.
Put simply, the retail landscape has shifted globally, and the UAE are hot on the heels of countries such as the UK in terms of the ever-evolving SME landscape. If this agility and momentum can be maintained, the future looks bright for the UAE retail sector long-term.
Kate Hardcastle is an expert business consultant
by Staff Writer
More of this topic
UK and UAE retail trends in the post-pandemic economy
As part of Dubai’s recovery from the pandemic there is now an ever-increasing focus on startups, says Kate Hardcastle
Kate Hardcastle is an expert business consultant
While Covid-19 has driven a global surge in online retail sales and led to huge increases in profits for large retailers like Amazon, it has also boosted support for independent and smaller businesses.
There are a number of reasons consumers are opting to spend with independent businesses and micro-entrepreneurs. They may value a more personal experience, enjoy the story of the entrepreneur behind the business and appreciate products which may have been handmade and produced locally.
From a place perspective, artisan businesses can bring with them a sense of vibrancy to local high streets and malls, providing unique products and experiences that often can’t be found elsewhere, or online.
At a time when shopping centres, high streets and malls are suffering from the result of widespread store closures, there is growing opinion that artisan businesses should be embraced, as it is these businesses who bring a sense of identity and counterbalance the concept of dull, homogenised high streets or shopping centres.
The UAE is home to some of the world’s leading brands, with their flagship stores offering unrivalled brand experiences and a seamless omni-channel experience too. This provides shoppers with a wealth of choice and availability at their fingertips, in addition to immersive in-store experiences. But it’s important that each mall, place and shopping arcade still has its own sense of identity, offering a clear unique selling proposition for shoppers.
As part of Dubai’s recovery from the pandemic there is now an ever-increasing focus on start-ups – in fact, much like the UK the retail and business landscape have and continue to transform – both naturally and as a result of various measures and programmes put in place post-pandemic.
For example, Dubai Chamber has narrowed its focus to encompass the small and medium businesses sector and is currently preparing to launch a new programme for more established startups in Dubai, as well as a new edition of the Dubai Startup Hub networking series to offer guidance on how to launch startups in particular sectors. It also plans to launch a comprehensive report on the startup outlook for 2021 by the end of the year.
In fact, nearly two thirds of UAE residents (62 percent) would prefer to be self-employed, according to a new survey by job portal Bayt.com. Amongst those that are currently employed, 70 percent are thinking of starting their own business. This shows that a strong entrepreneurial spirit is alive and well in the region, and if this burgeoning talent is nurtured in the right way, the UAE could look to compete at a global level.
As consumers globally become increasingly aware of issues like sustainability, climate change and plastic waste, it’s important that brand values and ethics remain consistent, whilst reflecting and serving their diverse shopper bases.
Technology allows for a brand experience that is personalised to the needs and wants of today’s shopper, but the savvy shopper of tomorrow may also seek brands who align with their personal values too.
Many see smaller businesses as better placed to deliver on this – smaller-scale methods of production allow for greater transparency of process, younger and entrepreneur-led businesses can often exercise greater flexibility and innovation when adapting to local trends, and they can also bring to market products made locally that can’t be found elsewhere.
In time, these homegrown brands become contributing legacies of the places in which they were founded. For example, the independently owned UK brand Barbour is not just a successful global fashion brand, it is a proud source of heritage for the UK textiles industry.
The UAE is playing catch up, with the recent reshuffling of the UAE government in a bold, strategic move aimed at harnessing the power of the digital economy in the post-Covid era, with the appointment of a new minister of state for entrepreneurship and SMEs, Ahmad Belhoul Al Falasi highlighting the sector’s importance.
Put simply, the retail landscape has shifted globally, and the UAE are hot on the heels of countries such as the UK in terms of the ever-evolving SME landscape. If this agility and momentum can be maintained, the future looks bright for the UAE retail sector long-term.
Kate Hardcastle is an expert business consultant
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