Impact of customs tariffs, continued cooling demand for luxury goods, wait-and-see attitude in terms of investments. At the NRF, Patrick Bousquet-Chavanne, former C.E.O. of Emaar Malls and Executive CMO of Marks & Spencer, and currently Advisor to the Abu Dhabi Retail Development Program, shared with mind Retail his vision for retail in 2025.
Against the backdrop of the U.S. elections, can you give us the pulse of retail in the Middle East?
Patrick Bousquet-Chavanne: This sector is growing steadily in Saudi Arabia and the Emirates, well above the world average. It is being driven by a growing population and purchasing power well above the global average. Optimism is therefore widespread, particularly in the luxury sector. There has also been a desire to diversify investments.
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Article authors
Sophie Baqué
Chief Editor of mind Retail