Panda Retail Company recently held its first annual event for suppliers, which was attended by more than 300 company executives and members of the media.
The Panda Annual Collaborative Event, or PACE, took place at The Venue Jeddah Corniche, and aimed at empowering people to live a better life, spotlighting the local and international impacts of inflation, and finding solutions to ensure consumers are protected from the worst inflationary effects.
CEO of Panda Retail Company Dr. Bander Talaat Hamooh said PACE comes as an extension of the support provided by the Kingdom’s wise leadership to facilitate better customer experience in the retail sector. He highlighted a number of initiatives taken up by the Saudi government to reduce the effects of inflation on consumers in the Kingdom.
Underlining Panda’s role in these initiatives, Hamooh said the company was a key participant in the “Ma Tegla Alik” campaign launched by the Federation of Saudi Chambers in collaboration with the regional commerce chambers to provide basic food commodities at reduced prices, including more than 40 basic items such as chicken, eggs, rice, milk, oil, meat and others.
In addition, Panda launched an innovative campaign, titled “Thabatn’aha,” to reduce the prices of more than 300 commodities in all its branches across the Kingdom, assisting families to cut down on costs and providing solutions that ensure a more efficient shopping experience.
“The company is working with its strategic suppliers for practical solutions to absorb the effects of global inflation on customers so that they do not feel its repercussions, in line with its national duty based on being the leading and most widespread chain of stores in the Kingdom,” Hamooh said.
Food security was among the key discussions that took place at the PACE. The company works closely with its partners and suppliers at both local and international levels, to address the shortage in food supply and provide affordable prices for customers.
Among the other topics discussed at the event was the importance of supporting national industries to strengthen the Saudi economy. Panda has been a keen supporter of the “Made in Saudi Arabia” program launched by Crown Prince Mohammed bin Salman in March 2021. The program aims to stimulate national industries, encourage consumers to buy local commodities and boost the Kingdom’s exports to global markets.
Panda has deployed several strategies to promote local products, which include displaying them prominently in stores, in addition to a number of marketing campaigns. The company also facilitates SMEs to market their products across all its branches.
The event also witnessed an awards ceremony, with Panda honoring a group of suppliers for their contributions to national economic growth.