ENOC announces retail expansion in line with Saudi Vision 2030

| June 10, 2019

article image
ENOC Group, a wholly-owned entity of Dubai government, has announced ambitious expansion plans for its retail operations in the Kingdom of Saudi Arabia.The Group’s retail arm will increase its service station network by more than eight fold by 2030 to reach 124 stations to meet the growing fuel station demand in the GCC’s largest market that is home to over 33 million residents and spans 2.15 million square kilometers in size.The new service stations will be strategically spread across different locations across the Kingdom covering east, west and central regions, with the objective of boosting the quality of infrastructure to bring last mile connectivity, especially for the rural parts of the country.Over the next five years, ENOC plans to open 45 new service stations. From 2024 to 2028, the Group plans to further expand its retail operations across the Kingdom by opening 65 new ENOC stations. All upcoming service stations in the Kingdom will have provisions for solar pv panels to be installed on the roof of the canopy.

Spotlight

Speed Commerce

Speed Commerce is a single-source provider of fulfillment solutions, customer engagement services, and order management technology for retailers and manufacturers. Designed around the customer’s needs, Speed Commerce’s solutions help brands streamline operations, leverage technology, and find greater efficiencies. Services include: order and inventory management, pick, pack, and ship, freight management, returns processing, and 24/7 customer care.

OTHER ARTICLES

How the coronavirus and retail closures are accelerating the rise of Amazon

Article | April 19, 2020

Under orders to stay home, millions of Americans have turned to online marketplaces like Amazon to order much-needed essentials like toilet paper, food, hand sanitizer and cold medicine. In lieu of neighborhood supermarkets, consumers are relying on online grocery delivery services like Amazon Fresh, resulting in a cascade of delays and out-of-stock notices amid the unexpected rise in demand. Amazon has hired more than 100,000 new warehouse and delivery workers since March to help manage the surge in orders, and it’s planning to bring on 75,000 more workers. The unprecedented demand has propelled shares of Amazon to fresh highs. The stock hit an all-time high on April 16 and is up more than 28% for the year, compared with an 11% decline for the S&P 500. Investors have flocked to Amazon and other stay-at-home stocks like Netflix and Zoom in recent months, as consumers have come to depend on their services amid the lockdown.

Read More

Traffic to US retail stores has almost entirely vanished due to Covid-19

Article | April 1, 2020

At many malls and retail stores around the US, foot traffic has been in decline for some time. Even so, they’ve never seen anything like this. In a research note sent to clients today, investment firm Cowen and Company estimated total foot traffic to US retailers was down 97.6% for the week through March 27 compared to the same time last year. It has come to a “near complete halt,” Cowen said, following the outbreak of the new coronavirus. Many stores across the country are closed, of course, so shoppers couldn’t visit even if they wanted. Retailers have voluntarily shuttered stores to protect workers and help slow the virus’s spread. Simon Property Group, the largest mall owner in the US, closed its malls through at least the end of March.

Read More

What are the biggest barriers to AI adoption for retailers?

Article | February 24, 2020

According to KPMG’s “Living in an AI World 2020 Report,” retailers have some optimism, some skepticism and some pessimism about how artificial intelligence (AI) will impact the industry. The study explored how 751 insiders across five industries, including retail, view the future of AI in their sectors. On the downside, 64 percent of retail insiders agreed that the use of AI to help businesses is more hype than reality right now. The study also identified numerous challenges retailers believe they face in capitalizing on AI’s potential: AI readiness: Just 43 percent of retail respondents believe their employees are prepared for AI adoption. Relatedly, only 52 percent say their companies offer any type of AI training.

Read More

How IoT is transforming the retail industry in 2020?

Article | March 4, 2020

The retail industry has experienced a rapid transformation in the last 20 years. And like other industries, the retail industry is also embracing the Internet of Things (IoT) technology for the innovative opportunities it offers. In fact, IoT has already been embraced in retail all around the world. For instance, the IoT in the retail market has been increasing at a whopping 20% CAGR since 2015 and it is forecasted to reach $35 billion in 2020. That being said, let’s examine the top 4 opportunities IoT technology holds for the retail industry in the year 2020 and how you can capitalize on them. Retailers that have embraced the IoT technology have already experienced benefits like reduced costs, improvement in overall performance, and enhanced customer experience.

Read More

Spotlight

Speed Commerce

Speed Commerce is a single-source provider of fulfillment solutions, customer engagement services, and order management technology for retailers and manufacturers. Designed around the customer’s needs, Speed Commerce’s solutions help brands streamline operations, leverage technology, and find greater efficiencies. Services include: order and inventory management, pick, pack, and ship, freight management, returns processing, and 24/7 customer care.

Events