Majlis, an Arabic term used to describe gatherings for the purpose of exchanging views.
Convenience Majlis takes place in Riyadh this November. It brings together leading Saudi fuel and convenience retailers over two days to exchange ideas and consider the future opportunities in this rapidly modernising market.
The event aims to accelerate market development by connecting the Saudi fuel and convenience market with leading industry suppliers from around the world to develop global best practice.
With a population of 36.3 million and 17.2% of the World’s proven oil reserves, Saudi Arabia is not only the Middle East’s largest economy, it is one of the World’s fastest growing economies.
And, unlike European markets, roadside retail site numbers are set to grow. In fact, it is anticipated that the total number of stations in Saudi Arabia could grow from 10,0000 to at least 18,000 to satisfy the market. For both retailers and suppliers this is an exciting prospect.
Saudi Vision 2030
Launched in 2012, Vision 2030 is a strategic framework to diversify the Saudi Arabian economy, built around three primary themes: a vibrant society, a thriving economy and an ambitious nation.
Using its considerable investment power, together with legislative change, the transformation is well underway with wide ranging implications across industries within the market, including the fuel and convenience retail industry.
The Saudi fuel and convenience retail industry is transitioning quickly. Encouraged by the authorities and supported by the leading brands, the market is going through a rapid consolidation in which thousands of individual players will become a dozen large scale companies.
Historically, the fuels retailing business in Saudi Arabia has been focused on individuals, not corporates. Brought about by the Vision 2030 initiative, a key legislative change is that permits to operate petrol forecourt retail stations are now only being granted to companies.
It is expected that in three years from now, there will be no service stations under individual ownership. Multi-nationals have started to enter the market and local companies have established themselves as corporates, all aiming to grow their networks.
A considerable opportunity
On this journey of rapid consolidation, fuel and convenience retail companies face many challenges and opportunities. Central to this will be how and where they invest to establish their networks for the future.
In a recently published article on GCSF, Head of Retail Operations at Orange KSA shared this sentiment, “It’s a big market with huge potential for profit, but that depends on scale. 25 to 30 stations is not enough, you need 300 service stations to be successful and impactful in this business”.
The Convenience Majlis, Saudi Arabia 2023 program is specifically designed to support the objective of scaling up to meet future market demands, improve efficiency and increase profit margins. While sharing and exchanging ideas from within the market and globally.
The two day Convenience Majlis, Saudi Arabia 2023 this November combines presentation sessions through the afternoon of Monday 27th, a networking dinner that evening and continues with hosted retail site visits to Aramco and SASCO on the morning of Tuesday 28th, followed by presentations, panel sessions and interactive Q&A through the afternoon. The event will be hosted by Insight Research and Nikolay Vylegzhanin, NACS Relationship Partner for MENA, and proudly supported by Shopworks.
The program will explore –
- The Saudi growth potential and market consolidation.
- The effective upgrading and modernization of fuel systems.
- Networking planning.
- Store design and layout.
- Category management and c-store margin optimisation.
- Developing consumer facing brands.
- Differentiating through food and coffee programs.
- Partnering with established global brands.
- Loyalty and payment systems.
- Sharing global best practice.
And of critical importance, a dedicated session which focuses on energy transition and e-mobility. Saudi investments in EV production are expected to reach $50 billion over the next decade. And at least 30 percent of the vehicles on the road in Riyadh are expected to be electric by 2030.
I’m Interested – Tell me more about Saudi Arabia
Convenience Majlis, Saudi Arabia 2023 is for Saudi fuel and convenience retailers and leading suppliers to our industry. If you’d like to know more about being part of this unique event please contact us.