DOHA, its annual summer shopping frenzy now in full swing with 300,000 shoppers spending over QR500mn in just 10 weeks, is in the midst of a retail boom. With a host of new and extended retail developments seeing record numbers of visitors, Doha is more than ever before seen as a leading global retail destination, a fact confirmed by new research undertaken by Middle East retail software supplier Logo Business Solutions.
“Consumers love foreign brands. Add to this an expanding population and new shopping malls and the Qatari retail sector is now worth an incredible QR2bn per annum,” said Ali Guven, CEO of Logo.
The sound of ringing checkouts is good news for Logo, the leader in the $270mn GCC retail Enterprise Resource Planning (ERP) software market, as Guven explains: “On the back of record GDP figures and oil approaching $80 a barrel, the GCC retail sector is experiencing phenomenal growth.
“This is encouraging more businesses to set up, existing companies to expand and attracting a number of new multinational retail and commercial businesses to Qatar.”
“With more rivals, some of them global brands, retail businesses realise their software systems need to keep pace, helping them compete in the new marketplace. Global retailing, with suppliers across the world using multiple currencies and languages, means companies are demanding modern software to cope with current business practices,” added H K Mustaq, sales director of Logo’s Qatari software partner, Logosoft.
Logo has noted a recent trend in Qatari retailers seeking adaptable business software solutions. “Since Logo opened its new Dubai-based international headquarters in May, sales figures for Logo Unity, its specialist retail solution, have shown impressive growth,” said Loey Osman, Logo’s international managing director.
“With more businesses in the marketplace, existing businesses find profits threatened and need a competitive advantage. Businesses both large and small, in retail and other sectors, are fast realising ERP software can give them that advantage”.
Logo predicts long term GCC economic prosperity. So much so, it has decided now is the ideal time to expand regional operations, and is responding to the growth of the GCC economy and the resulting demand for business software.
Logo is increasing its presence in Qatar, with more suppliers, installers and technical support staff, backed by an international headquarters in Dubai, all working together to ensure local businesses contribute to, and benefit from, the countries economic success.