The post-pandemic reopening of global economies is driving demand for retail products and services as consumer confidence bounces back.
But new behaviours adopted during the lockdowns are changing the market for Middle East retailers.
In particular, the increased adoption of e-commerce is driving home the point that shoppers want their goods delivered as quickly as possible.
Keeping up with the change is not an easy task.
For suppliers to the retail sector, many of whom are small and medium-sized enterprises (SMEs), the pressure is multifold. They need to:
- Adapt to shifting consumer behaviour
- Respond to online purchasing habits, especially when it comes to returns
- Keep up with fast paced a changing demand across multiple distribution channels
- Comply with local and international regulations
- Become more technologically and environmentally efficient
The shorter lead-in times and greater inventory requirements is increasing cash flow pressure on suppliers.
Ensuring access to adequate working capital is becoming a growing point of concern and has the potential to both impact the cost of goods to retailers and their ability to survive these changes.
Join Rethinking the financial supply chain in retail, the latest live webinar by MEED and Mashreq on 10 February 2022 at 1pm GST, to discuss ways that retailers can better support their suppliers in the retail sector thereby creating a more sustainable and cost-effective supply chain model. Leading experts from the GCC retail sector will come together to discuss:
- Why retailers need to assess the financial stability of their supply chain
- Financial requirements and options for strengthening suppliers
- Working with partners: collaboration between retailers and their suppliers
- Using data analytics to improve inventory visibility and forecasts
- Alternate routes of supplier finance: fintech, green funds, peer-to-peer
- Environmental, social and governance (ESG) compliance to attract investments
- Abhishek Mundra, Group Chief Finance Officer, Choithrams
- JD Reyes, Finance Director Global Emerging Markets, General Mills
- Dan Georgescu, Senior Manager - Operations Restructuring, PwC
- Victor Penna, Co-Head of Global Transaction Banking, Mashreq Bank
- Richard Thompson, Editorial Director, MEED
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