In this period of economic uncertainty, the luxury retail sector in London is at the receiving end of a major hit in sales and customer spending levels. Companies are trying to reduce their financial costs in order to keep themselves afloat and sail through this major unprecedented storm. Understandably, this is affecting mainly their spending on training and coaching for their sales teams.
The positive aspect of the current economical situation, which many luxury retail businesses in the West End are now noticing, is the fact that our currency weakness compared to other international currencies transformed London into a major shopping destination for tourists especially Arabs.
Through our experience and factual sales figures of major retailers, the Arab Clients contributed to more than half of the turnover of luxury sales in the West End of London in the first quarter of 2009. Unfortunately, only the businesses that were ready to cater to this kind of clientele won the lion’s share of this healthy income.
According to London Times newspaper, 1.5M Arab tourists visited London in 2007 (This figure went up since then due to the attractive Pound conversion rate). The retail sector turnover in London in 2007, according to The National Statistics Bureau, was £ 49 Billion, of which £ 4.7 Billion was spent in the West End. Let’s assume that each Arab person has spent £ 1000 during his/her stay (which according to our experience is a very minimal assumption). This would lead us to a 1.5 billion pounds size of business or around 32 % of the retail business in the West End of London.
The lack of understanding of this client’s mentality and way of doing business limits the kind of service the sales staff members are providing, thus, affecting the conversion rate of potential Arab customers into long-term the Arab clients.
For a proactive approach, UnderstandArabia Ltd. can provide a beneficial training seminar which helps sales and marketing professionals improve their overall skills in dealing with such challenging and demanding clients.
The Arabian Gulf Customers – Background and Purchasing Habits Seminar, combined with a membership in the Marhaba Club promises to transform any sales team into an Arab customers’ magnet which leads to maximising the ability of their companies to attract the Arab’s magnificent purchasing power.
Targeting the Arab clients doesn’t only stop at training sales and marketing professionals on how to deal with them when coming to the venue. It also requires sufficient planning in building their awareness towards the existence of the business and the services and products it provides.
For this, UnderstandArabia Ltd. provides a bespoke marketing and advertising plan, accompanied with ongoing consultancy, in order for the business to reach a wide range of Arab royals, families and business people. This service would be tailor-made to cater to the particular needs of the organisation.
M Said Chaarawi, the Managing Director of UnderstandArabia Ltd, worked closely with Arab Royals, VIPs and regular shoppers for more than eight years. He organized Arab business conferences and meetings in Lebanon, managed luxury shopping venues in Dubai and worked in one of the most luxurious Arab shopping destination in the West End of London.
“I would have the pleasure to help European businesses achieve their full potential in the Arab Tourists Market Share through our proven selling technique, effective marketing plan, ongoing consultancy and a membership in an Arab trusted Club.“
All our services are very reasonably priced to be afforded by small businesses as well as well established companies. |
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