The country’s retail sector is expected to witness continued growth in 2023 alongside Qatar’s forecasted economic expansion, a top official of LuLu Group has said.Speaking to Gulf Times in an exclusive interview, Dr Mohamed Althaf, director of LuLu Group International, also said technological advancements will push the development of Qatar’s retail sector.Citing the resilience of Qatar’s retail industry, Dr Althaf noted that despite various challenges, including global economic turmoil and inflationary pressures, the sector has demonstrated stability.“In Qatar, access to food remains uninterrupted and prices have been stabilised through government interventions. With the retail sector's resilience now built in, it’s a time for us to think strategically and move forward,” Dr Althaf stressed.Dr Althaf reiterated that the country’s retail sector will continue to grow in tandem with Qatar’s expanding economy. In preparation for the 2022 FIFA World Cup, he said Qatar has managed to focus on infrastructure development and to successfully deliver “the best World Cup ever.”“However, there are crucial areas that will significantly impact the health of every retail company and this includes digital transformation. Contrary to popular belief, retailers worldwide have been early adopters of digital technologies, often ahead of scientific research institutions.“There is a need for digital transformation and the potential of advanced technologies, such as artificial intelligence (AI) and automation to drive the sector forward,” Dr Althaf explained.Dr Althaf called for the development of robust digital transformation strategies encompassing both online and in-store operations, highlighting the potential benefits of maximising the utilisation of next-generation technologies.He said: “It is important to constantly focus on how we make our processes effective and to understand how to benefit from next-generation technologies, such as what we will be able to achieve with 5G, for example.“A lot of people still have not realised the full potential of what 5G can do. And then there are a lot of digital tools that are coming and becoming mainstream like chatbots and ChatGPT.”Dr Althaf also acknowledged that while there are concerns about the disastrous consequences of AI, this disruptive technology also presents an opportunity to automate various processes.He also commended the Qatari government for its digitalisation strategy and for embracing the latest technologies to develop both the country’s public and private sectors.“AI has the potential to revolutionise retail operations, leading to increased efficiency and improved customer experiences. As the country’s economy continues to expand, the retail sector’s growth trajectory hinges on embracing digital transformation and capitalising on the advancements in AI technology,” he emphasised.He added: “Thanks to its resilience and stability, Qatar’s retail sector is well-positioned for growth. By prioritising digital transformation and leveraging the potential of AI and emerging technologies, retailers can get access to new opportunities and deliver better services to their customers, contributing to the overall economic growth of the country.” (ICE Doha)

Fonte notizia: https://www.gulf-times.com/