Mobile commerce, easy delivery and payments, and smart inventory: META retailers invest in 2024

As consumer tech retailers in the Middle East, Turkey and Africa (META) enter 2024, they are seeking to meet myriad consumer demands, while partnering ever more closely with manufacturers.

GfK’s new State of Retail report: META examines four areas of growth investments for the region’s retailers: formats, technology, operational excellence and purpose.

For the report, GfK surveyed nearly 800 retail executives in 76 countries globally. The META findings demonstrate clear trends.

Format

Within formats, increasingly seamless omnichannel is in focus. As part of this, eight in 10 META retailers have high confidence in mobile commerce. In-person shopping is also key, with the vast majority of retailers confident in this area, and many building experience stores.

Technology

Technology will be critical to these changes. At the top of the list is artificial intelligence, with smart insights essential to holding the right stock at all times, while smart personalization tech understands consumers’ intentions and offers better products at the right times.

Operational Excellence

The GfK State of Retail report also looks at retailers’ major operations changes. There will be a clear emphasis on the processes, staff and systems for ultra-fast delivery, and for improved, broader payments services.

Purpose

As consumers look to buy from businesses with a clear purpose, retailers are increasingly selling sustainable products – and services that increase device lifespans. At the same time, many retailers will look to improve internal practices.

Across META, retailers are investing in the future. This will enable them to succeed in a variety of economic conditions – and to differentiate with success. The GfK State of Retail report examines retailers’ critical shifts for enduring growth.