Why price efficiency is key for end-consumers

Sheikh Salem inaugurating the new outlet.

The 52nd outlet of Regency Group opened in Al Musallah in Sharjah, its largest in the UAE and the first in a spate of new openings planned across the region this year.
Sheikh Salem Abdulrahman Salem Al Qasimi, Chairman of Sharjah Ruler's Office, inaugurated the mall in the presence of Sheikh Mohammed bin Abdullah Al Qasimi, Sheikh Abdulla bin Mohammed Khalid Ahmed Al Qasimi and Sultan Al Shamsi. Also present were Bollyword actor Sunil Shetty, DM Healthcare chairman Dr Azad Moopen, Regency Group chairman Shamsudheen bin Mohideen and managing director Dr Anvar Ameen Chelat.
Dr Chelat said the benefit of price efficiency that the retailer gained through large-scale procurement of products is transferred onto the end-consumer, he said. He said the retail chain could afford to offer customers price advantages of up to 15-20 per cent compared to some peers thanks to the group's own sourcing centres. "Since there are no middlemen for sourcing, we can invariably ensure the finest quality inventory at the best available prices," said Dr Chelat.
Over the next 5 years, the target of the retail giant is to nearly double annual turnover to Dh3 billion from Dh1.8 billion at present, said Dr Chelat.
Dr Chelat said the business group has a strong retail presence in the UAE, Oman, Saudi Arabia, Kuwait, China and India, and employs over 5,600.
This year, the group is plans to expand retail presence to Bahrain, Ghana, South Sudan and Malaysia through strategic expansions, Chelat said.
Also present at the inaugural event were Mohamed N.V., director; Abdulsubhan bin Shamsudheen, director; Saleem Valiyakath, business associate; and Mahamood T.P., CEO.
- issacjohn@khaleejtimes.com