Neelesh Bhatnagar, chief executive officer of Emax, said the retail chain, accounting for eight per cent of the UAE consumer electronics market, would also be boosting its market share to 15 per cent by 2017. He said the UAE is expected to maintain a robust demand for consumer electronics with the market estimated to grow from $3.14 billion to $3.97 billion by 2015.
“Favourable demographics, rising consumer incomes, and evolving more interconnected lifestyles are anticipated to boost the industry,” he said. Smartphones and tablets, which account for 40 per cent of the sales, are expected to drive the market. “In the seven years since its inception, Emax has set up 50 showrooms in the UAE and other GCC countries. But in the next three years, we will be adding another 52 outlets to our chain,” Bhatnagar said at a Press briefing to announce the opening of the retailer’s 50th showroom in the GCC and 20th in the UAE.
He said over the next three years, Emax, “growing at compound annual growth rate of 30 per cent over the past four years, far outstripping the average industry growth of six to seven per cent”, would have a total of 33 outlets in the UAE and 40 in Saudi Arabia. He said the opening of the 50th outlet reinforced Emax’s “leading position at the frontline of the retail industry in the region and potentially setting a record of rapid growth in the sector”.
With this milestone achievement, Emax, representing more than 800 brands with over 100,000 products across more than 20 categories, is also reinforcing its strategy to be the closest tech store to people in the GCC, said Bhatnagar.
“Just as the first store was opened in the UAE in 2006, so was the 50th, bringing the total number of outlets in the UAE to 20, in a clear indication of the pivotal role of this market,” he said.
Bhatnagar argued that one of the key drivers of Emax’s “meteoric growth” was its focus on quality customer service.
“Besides meeting customer satisfaction in terms of product categories and availability, prices and promotions, we always see a customer as an opportunity to establish a long-term relationship and not as a chance to sell a product. Our salespersons are professionally trained to optimise customers’ Emax experience and guide people to make informed decisions on what to consider buying and not what we want them to buy. This has been highly appreciated by customers,” he said.
Bhatnagar said Emax has set a sustainable growth model. “We are currently poised for further expansion to other Mena markets, mainly Iraq, Egypt and North Africa, to cater to the needs of the local customers.”
On Dubai’s landmark win in its bid to host World Expo 2020, he said: “The market is healthy and is geared for unprecedented constant growth from now until 2020 when the Expo will potentially be a game-changing opportunity for the local and regional retail sector.”
Events to be staged at the DWTC, comprising diverse sectors including construction, energy, technology, beauty, food, healthcare, environment and automotive, will mark the emirate’s post-pandemic economic recovery
Local business2 months ago