Smart Dubai Grows Retail Sector Data Project To Help Industry Better Understand Customer Preferences Amid COVID-19 And Beyond
Launched in late 2019, in partnership with Dubai’s Department of Economic Development (Dubai Economy) and other semi-government and private entities, Smart Dubai’s Retail Sector Data Project outlines a clear vision to decision-makers about changing consumer behaviour and purchasing patterns of citizens and residents in times of emergency, which helps shopping malls better understand customer preferences and trends to provide safe experiences for people amid the challenging circumstances created by the coronavirus (Covid-19) pandemic.
Dr Aisha Bint Butti Bin Bishr, Director-General, Smart Dubai, underlined the important role the private sector plays in utilizing data to develop the retail industry – one of the key components of Dubai’s economy – which calls for continuously predicting people’s changing needs and providing innovative solutions to cater to those needs.
“Having received positive feedback from our partners on this project, and to meet the objectives of our Private Sector Engagement Strategy by enhancing data collaboration between the public and private sectors, Smart Dubai is currently in discussions with all parties to further expand the scope of the project and potentially include more new partners,” Dr Bin Bishr said in a statement.
The data from the project will be analysed and optimized for value to enhance experiences and services in the retail sector and spread happiness among residents. The project will also serve as a guide for the sector towards making the right investments.
Samer Soliman, Managing Director for Network International’s Middle East operations, said: “Retail is among the biggest contributors to Dubai’s GDP economy and as the UAE’s largest merchant acquirer, Network’s anonymized, aggregated ‘Merchant Acquiring Data’ will enable both public and private policy-makers make data-driven decisions that boost the resilience of the city’s retail sector.”
Other partners part of the project include the Department of Economic Development, Majid Al Futtaim and du from the Emirates Integrated Telecommunications Company.
Sami Al Qamzi, Director-General of Dubai Economy, added: “The retail sector is an important pillar of Dubai’s economy. As the government entity concerned with formulating and developing the economic agenda of the emirate by supporting various sectors, we recognise the importance of the retail sector, its substantial contribution to Dubai’s GDP, and its vital role in providing various general needs.”
Smart Dubai is looking to expand the project to develop a more thorough profile of visitors who frequent shopping malls in the emirate, including their spending patterns and payment-method preferences. The project enhances the flexibility of the retail sector with a wider understanding of demographic diversity and people’s behaviours, such as spending and visiting patterns. It allows data to be shared reliably and in keeping with international best practices.