ARAB LUXURY WORLD
THE CONFERENCE ON THE BUSINESS OF LUXURY IN THE MIDDLE EAST
Arab luxury world brings the regional and the international luxury industry together once a year to share,
interact and exchange knowledge, data and research, and also to understand consumers' insights through unique
research, to make sense of major disruptions in the business of luxury and to find ways to focus on the growth
of core resident consumers in an over-abundant market.
From Arab millennials to digital engagement with consumers,and from the rise of boutique malls to the challenges
of over-retailing and e-commerce, the regional luxury landscape is changing. Geopolitical equations, economic
performance amid oil price challenges, a volatile tourism industry and looming taxes in the GCC are some of the
issues that will be discussed and dissected by more than 100 experts in complete depth, so that professionals
associated with the luxury industry are empowered to take growth-oriented decisions.
What is shaping the new consumers and what are they expecting from luxury brands? What is the new definition of luxury consumption? What do brands need to change to adapt to this new reality?
Consumers with high disposable income and their strong drive to novelty ensured years of growth for the luxury industry in the Middle East. Wrong strategies, retail expansion and local partners increased, for some brands and retailers, the market adjustment that started in 2015. The Gulf government’s budget slashing, coupled with the amendment to spending cuts and taxes, took its toll on the luxury industry and retail.
Changes that were gradual in the past are now visible and fast. Saudi Arabia’s transformation, which includes the openness of its economy and privatization, has put the country as a top business destination in the region. Global and regional consumers are changing their habits and their approach to luxury. With technology and retail transformation along with changes in habits, consumers are demanding more from the brands that they love. Coupled with the emergence of millennial consumers as well as new consumption habits and experiential needs, fundamental pattern changes are visible. How are brands and retailers adapting to those changes? Which products and strategies work best and which strategic change is being made? From global trends and new consumers to new product categories, what are consumers going to ask for? Which key strategic change should companies undergo?
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