Evolve or evaporate, international expert tells Middle East retailers

"Today, we live in an attention-based economy where retailers must seek ways to get their customers' attention, sustain it, grow it, and profit from it," said Dr. Wee.

"In a competitive environment, retailers need to adopt strategies to generate sticking power, which is the key to long-term profitability. These strategies include sense of purpose, positioning, people, product, pricing, promotion, and physical store ambience," she said.

Elaborating further, Dr. Wee said that a retailer's sense of purpose must be consumer relevant, clear, consistent, and sustainable with sharp focus on brand building.

According to Dr. Wee, today's retailer not only needs to be more creative and innovative, but is also required to ensure that the consumer is treated to a more varied experience through themed malls and shopping haunts.

"One requires to look beyond traditional retail formats to provide shoppers with an enjoyable experience. Promotion of SME retail and street markets are some of the ways to attain that objective," said Dr. Wee.

Laying strong emphasis on multi-channel retailing, Dr. Wee said that retail needs to be blended with other elements like dining, culture, and spa.

Dr. Wee also discussed in detail several other qualities that were necessary for a retailer to adopt in order to be successful in the current competitive scenario.

"In order to succeed, retailers need to be user friendly, integrated, enterprising, consumer-centric, and sensitive to women's and children's needs," she said.

"The present day consumer needs to be pampered. Establishment of an emotional bond with the consumer is absolutely necessary," said Dr. Wee.

The significant role of technology including RFID, network TV, plasma, and screen messaging, in attracting consumers was also taken up during the session.

Among the other speakers who enthralled a large gathering of regional retailers, analysts on demographic trends, retail technology consultants, marketing and sales professionals, IT professionals, and professionals engaged in strategy formulation and implementation of retail set ups, were Ms. Kate Ancketil, Managing Director of the UK-based GDR Creative Intelligence, Dr. Christian Mikunda, an Austria-based dramatist and psychologist, ABC Namebank international President Mr. Naseem Javed, Retail International Principal Mr. Simon Thomson, and UAE-based Franchise Development Services' Managing Director, Ms. Tracey Furrey.

The Retail Professional's Conference was held on April 18th on the sidelines of the three-day Retail Middle East Exhibition. The exhibition is on till April 19, 2006.