UAE’s major free zones focused on innovation, the Sharjah Research Technology & Innovation Park (SRTI Park) and the global design and technology company PLM have launched Retail R&D (research and development) Experience Studio in order to bring together the best in the retail industry.
According to the company statement, “Retail R&D Experience Studio promotes the quintuple helix of innovation – public, private, academe, ecology, and society.”
Furthermore, Retail R&D Experience Studio will speed up the development of existing projects while also developing new ones from the ground up to align discourse and share best practices in the industry.
“The future of retail will feature a high level of digital competition. Suppliers will boost direct-to-consumer relationships while traditional retailers need to cope with the market transformation to better serve their customers. Technology will continue to grow and shape business transactions as well as consumer behavior. Those who can differentiate themselves will continue to survive and thrive. The prevalence of technology will continue to grow and shape the business. We are glad to launch the Retail R&D Experience Studio with PLM to bring together the best in the segment.”
According to Mr. Al Mahmoudi, Retail R&D Experience Studio is a significant addition to SRTI Park’s thriving ecosystem. “The center will be the main driver in thought leadership of retail innovation in our region. It will be a platform to engage retail sectors, academia, and the government to co-innovate and leverage regional retail opportunities and challenges,” he further added.
“We are extremely proud and pleased to partner with SRTI Park with the launch of the retail innovation center at SRTIP. As design and technology disruptors, we focus on exceeding our customer’s expectations, with our fully integrated range of solutions. Nowadays, business boundaries have become blurred because of technology and global integration,” stated Mr. Pedro Rodrigues, CEO of PLM.
Further, Mr. Al Mahmoudi has invited business leaders and retail industry stakeholders to the Retail R&D Experience Studio, which is located within SRTI Park, for an interactive study on how the industry responds to consumers’ ever-changing wants and needs.