https://adgully.me/post/4598/bain-company-microsoft-to-help-clients-accelerate-and-scale-ai-adoption

Bain & Company, Microsoft to help clients accelerate and scale AI adoption

New data from Bain and Company explores October retail sales data and the pricing strategies retailers are deploying over the coming weeks. Despite early signs of healthy shopping and a comeback from September’s slump, several retailers held October sales events to jump-start the season. Bain expectations have remained the same with total nominal US retail sales for Bain-defined categories growing just 3.3% year-over-year in October, compared to 6.9% last year.Many retailers are turning to broader and deeper promotions to increase traffic and volumes this season in response to these trends as well as mixed signals from consumers. These promotional strategies—a continuation from last year—are expected to further increase though the end of 2023.Amid pricing volatility, consumers and retailers alike have faced the challenges of higher sticker prices and domestic producers’ selling prices. Now, inflation-weary consumers are slowing their spending. But as shoppers pull back and the rate of price increases slows, retailers’ margins are getting squeezed.“Given a highly promotional holiday season, retailers will need to be creative and brand values aligned with their seasonal promotions, making sure to build in opportunities to tweak strategy as real-time results and competitor actions come in,” said Aaron Cheris, head of Bain & Company’s Americas Retail practice. “Leading retailers are not only applying the right pricing model to the right items in ways that are consistent with their brand value proposition, but will continue to adapt, adjust, and reevaluate throughout and after the holiday season.”
https://adgully.me/post/2378/grocery-apparel-spending-likely-to-increase-among-uae-consumers-in-future

Grocery, apparel spending likely to increase among UAE consumers in future

Dubai: More than two in five (44%) consumers in UAE have seen a decrease in their disposable income over the past 12 months while 27% have seen no change, according to the latest data from YouGov’s Global FMCG/CPG & Retail whitepaper 2023 – Changing purchasing habits in a cost-of-living crisis, shows that . With only 22% having experienced an increase, overall, the negative impact on disposable income outweighs the positive more by two-fold.When it comes to changes by age groups, we can see how the over 35 are hit hard by inflation, with the 55+ adults experiencing the hardest impact (at 53%). On the other hand, young adults between 25–34 years appear to be the least impacted. The report also explores the products and services that are showing increasing price sensitivity in the past six months.Food related products rank in the top four most price sensitive categories with groceries being the top concern for more than two in five UAE consumers (44%). A similar proportion (41%) is conscious of the price of clothing/ shoes. Around a third have been concerned about the cost of mobile phones (35%) and take-out food (31%). Air travel (30%) and electronics (29%) fall within the next tier of price sensitive categories, along with utilities (27%), car/vehicle (26%) and medicine & healthcare products (25%). Despite experiencing a change in disposable income, consumers seem confident about their future spending and are likely to increase their spending in most of the listed categories.Grocery spending is likely to surge, with more than a third (36%) planning to increase spend on food & beverages in the next 12 months, considerably more those who intend to spend less (22%). Similarly, the apparel and household supplies/ toiletries categories can expect more or the same amount of spend from consumers than a cut back.The personal care category is likely to remain stable, with a higher proportion saying they will spend the same amount than those who may increase or decrease their spending. The two categories most likely to be affected by inflation are toys/puzzles/games/books and alcohol, where consumers are more likely to not buy or reduce their spend than increase it.In order to manage their expenses better, consumers are resorting to a number of smart shopping tactics. More than a third of consumers in UAE have shopped at a budget or cheaper store (35%), compared prices (34%) or maintained a tight budget (34%). Using discount codes or coupons to save money was the next best tactic (32%), closely followed by waiting for sales to buy their desired products (31%).Looking ahead, using discount codes to apply a reduction in price is expected to be the top future tactic, with two in five UAE consumers saying so (40%). This is closely followed by waiting for the price of products to be slashed in sales or on sale days (39%), shopping at budget stores (37%), price comparison (37%) and a tight shopping budget (37%).
https://adgully.me/post/2137/wee-marketplace-taps-uae-e-commerce-market-with-quick-delivery-service

WEE Marketplace taps UAE e-commerce market with quick delivery service

Dubai: WEE Marketplace, has launched its last-mile logistics platform based on advanced technology to provide quick and seamless delivery service – tapping into UAE’s $12.7 billion e -commerce market1.WEE’s platform aims to have over 500 reputed and trusted retailers and sellers by end of 2023. Currently based on an invite-only model, the platform will feature limited number of sellers to ensure minimal competition and maximum quality of products for UAE customers. With a network of over 50,000 riders (along with local partners), WEE can offer customers across the UAE access to a wide range of high-quality products from top-tier brands/retailers with a speedy delivery service (within 45 minutes) and competitive prices on its platform.Anastasia Kim, Co-founder, WEE Marketplace said, “Increased adoption of smartphones, rising internet penetration, has shifted consumer preferences towards online shopping. Our platform will allow retailers to provide a hassle-free on demand delivery service to its customers across the UAE. It will help them streamline the process even further by tackling the most crucial parts of their supply chain, giving them a competitive edge.”Currently the platform features over 7,000 products from various categories like electronics and appliances, beauty and health, household, petfood, automotive, sports and leisure, books, kids and toys, and accessories. The company plans to expand its fulfillment services to stock more than half a million products by end of 2023.