Majid Al Futtaim banks on positive 2021

  • Posted on
  • Posted in News

Despite the extraordinary events of 2020, Majid Al Futtaim’s full-year performance demonstrated the resilience of its people and business model, diverse portfolio, operational agility, proactive investments, and prudent financial risk management.

Majid Al Futtaim Retail has announced that it is on track to meet its targets for 2021, with an increased focus on digital transformation and the omni-channel experience aiding the group’s recovery from the Covid-19 pandemic.

Speaking to Khaleej Times, Philippe Peguilhan, country manager of Carrefour UAE at Majid Al Futtaim Retail, highlighted how the group had accelerated its plans to go digital to meet the needs of residents during the pandemic.

“When the pandemic first started, there was a 300 per cent increase in demand for Carrefour products in just a few weeks, so we had to adapt quickly to increase our stock levels and strengthen our local supply chain,” he said. “We experienced a sharp increase in the sales of electronics for those working and learning from home, plus, the popularity of home gym equipment soared 600 per cent as people sought to stay fit and healthy inside. Physical health and mental well-being became a huge priority for our customers, which accelerated the demand for fresh food and immunity-boosting products.”

Looking at the situation now, Peguilhan noted that retail “was never off track.”

Most recently, Carrefour, owned and operated by Majid Al Futtaim in the UAE, shared its theme and plans for Ramadan 2021. The brand hopes to make Ramadan more affordable for its communities with its ‘Together we Share’ campaign, investing over Dh30 million, which will be passed on to customers via offers and promotions available across its stores and online platform.

“After having carefully evaluated the current economic situation, we are investing more than Dh30 million into our 2021 campaign to allow everyone to enjoy the generous spirit of the Holy Month,” said Peguilhan.