Majid Al Futtaim records 19 percent decline in Egypt’s store sales during 2020 due to COVID-19

Doaa A.Moneim , Friday 28 May 2021

Azab noted that there are indications of sales starting to recover since the beginning of 2021, despite the third wave of the coronavirus hitting Egypt

majid al futtaim

Majid Al Futtaim shopping malls’ store sales have contracted by 19 percent in 2020 as a result of the COVID-19 pandemic and its associated implications as well as related lockdown measures, according to the acting Managing Director of west region Shopping Malls Majid Al Futtaim Properties Rasha Azab.

Azab made her comments during a roundtable discussion held virtually on Wednesday, gathering a segment of Egyptian journalists, to review its financial position in Egypt during 2020 – the year that witnessed the pandemic outbreak.

Azab clarified that the decline was at an acceptable percentage in comparison to numbers experienced worldwide.

However, Azab noted that there are indications of sales starting to recover since the beginning of 2021, despite the third wave of the coronavirus hitting Egypt.

“This is primarily due to the brand’s forward-thinking strategies that ensure retailers have a compelling option to engage with and continue providing their offerings to the community,” she said.

As for the company’s proactive measures amid the pandemic, Azab stated that Majid Al Futtaim proactively closed the doors of its four malls, from 28 March to 26 April 2020, in order to further maintain the safety of the public in line with its commitment to protecting the health and safety of its customers and employees, along with ensuring the government's mandates were enforced.

“Aware of the inevitable impact a mall closure would have on its tenants – and sales – Majid Al Futtaim supported its partners by substituting rent collection with percentage deduction from their sales. After malls re-opened, Majid Al Futtaim’ssole focus and priority was to implement strict precautionary measures to ensure the safety of its customers and employees,” Azab added.

During the discussion, westregion Head of Marketing and Customer Experienceat Al Futtaim shopping malls Khaled Shaker said that the main focus, during 2020, was to prioritise the health and wellbeing of the community before identifying and providing the public with services that would offer convenience and safety.

“This led Majid Al Futtaim to continue building on its customer experience by launching ‘Click and Collect’, an online service that provides the modern consumer with a safe and reliable shopping experience,” said Shaker.

He added that theservice represents a compelling opportunity for their retail, food and beverage partners to engage and support their customers, while helping drive business to their own stores after the decline in sales.

Majid Al Futtaim continues tolook at new initiatives to support its stakeholders in the medium-term to long-term, as it prepares for the future of retail in a post COVID-19 world, according to Shaker.

‘Click and Collect’ is available through the malls' websites or applications, where customers can simply place their order online before picking it up at select locations within Mall of Egypt, City Centre Almaza, City Centre Alexandria or City Centre Maadi.

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