RIYADH: The retail experience has witnessed a massive shift after the outbreak of the pandemic, Majid Al Futtaim Properties CEO Ahmed Ismail told a gathering at the World Economic Forum Annual Meeting in Davos on May 24.
He said that this massive shift has come as people were confined to their homes due to the pandemic. As things have improved, the CEO said that human beings have now that hunger for a social experience — something that has opened up new possibilities.
Talking about the retail sector, Ismail said that data has been a big challenge for their businesses as their new-age competitors are incredibly data-rich with the implementation of new technologies.
He revealed that Majid Al Futtaim Properties has invested a lot in recent years in data collection through loyalty programs and partnerships.
The company has also inked partnership deals with payment processors, telecom companies, and even with the Dubai government through the Dubai smart initiative to bridge this data divide.