Numbers tell the truth and, if analyzed correctly, form a fine recipe for growth. Though several research projects have been undertaken in the region’s retail sector, the most unique is all set to be unveiled at arab luxury world – the conference on the business of luxury in the Middle East.
The first-in-the-region study, which will be launched on the first day of arab luxury world on June 1, 2016, is about mall mapping.
Luxury industry veteran and consultant Nadine Touma Gammage and managing partner of Dubai-based research and data science firm Sapience Consultancy Rabih Soueidi, in partnership with arab luxury world, have worked with their teams to take a closer look at shopping malls and come up with analysis that will benefit mall developers, brands, retailers and distributors, and also gauge consumer behavior toward malls.
Data: The moment of truth
“Hardcore data answering questions as to who goes to which malls and how often, and why certain malls score above their peers, among others, will be a part of the region’s first mall mapping study,” states Touma Gammage.
The retail sectors of Saudi Arabia and the UAE will benefit immensely from this mall-mapping study, she says, adding that there has been a huge gap or ‘black hole’ as far as data on consumers visiting malls is concerned.
Soueidi from Sapience notes the data collection is now finalized in the UAE and Saudi Arabia, and the results of the survey will help retailers, brands and distributors better understand their market and consumers.
Soueidi also mentions that this one-of-its-kind study on shopping malls recorded the views of 1,000 respondents in the UAE and Saudi Arabia.
Speaking of this, Touma Gammage adds: “For the survey, the views of 1,000 respondents from each country, with a balanced representation of socio-economic segments were considered. The study also has an adequate representation of the high-income segment.”
A new beginning
The study, which will provide first-ever insights on the core dynamics that underpin consumer patterns for mall visits, will be launched during a private session titled ‘GCC Mall Mapping’ on June 1 at the arab luxury world conference. The results of this exclusive survey will change the way the retail sector and its associated industries look at consumer behavior in the GCC.