Traditional retail is in trouble. We’ve all seen the headlines from the UK and the US. But Bahrain is facing a crises far worse than that of the West. Worse still, if the continual development of new retail space is anything to go by - no one seems to be taking any notice.
A well planned digital strategy, one that aligns with and supports overall business objectives, allows a business to create a foundation for sustainable growth. It supports development into a modern 'digital by default' organisation. An organisation that is well prepared for the incredible impact that digital has only just begun to have on the world.
“It’s not the fittest, nor the most intelligent that survive. It is the most adaptable to change.” This is a statement that has been widely attributed to Charles Darwin, a man best known for his scientific theory of evolution by natural selection. But as digital continues to disrupt sector after sector, his words are just as relevant for business today as they are for the very existence of life as we know it. Today’s business leaders need to transform their organisations to be adaptable, the question is how?
First and foremost, ahead of any technology integration, if the future of eCommerce is to meet it’s potential in the GCC, retailers need to prioritise customer experience. Approaching their businesses with empathy, identifying ways not only to meet consumer expectations but to exceed them. Rather than focusing inwards, on current capabilities and resources, looking to their customers to discover how to fulfil their needs. It won’t be an easy task. For many organisations in the region, this concept is new. But for their audiences, it’s anything but.
Without employee buy-in, organisations will struggle to reap the rewards of digital transformation. Effective communication is key.
Nine out of ten digital transformation articles focus on technology. Contrary to popular belief, this alone is not digital transformation.
Companies around the world are taking the initiative and starting the process of digital transformation. They are watching the changing business landscape, they are asking questions and looking for opportunities. Here though, leaders are still having to be ’sold’ the idea.
Effective leadership is essential whenever a business starts a process of digital transformation. To be successful however, you need cooperation from every level of the company.
It's incredible just how much the commercial landscape has evolved over the past two decades and the change is even more astounding looking at the past five years. Digital has changed how businesses work in every industry. Despite this, whether it's due to the rate of change or an inherent resistance; many organisations are yet to grasp the potential benefits of digital technology, continuing to use business models that haven't adapted to today’s marketplace.
Bahrain is a country with no income tax, small enough to drive from top to bottom in just over an hour. Three mobile networks compete for business and an educated population contributes to the island's position as ‘most likely to use Instagram’ in the Middle East.