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Questions and Insights before taking steps to start a retail business in Dubai

07-24-2023 09:44 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: YourRetailCoach Dubai

Questions and Insights before taking steps to start a retail business in Dubai

Questions and Insights before taking steps to start a retail business in Dubai

In this communiqué, YRC's team of retail consultants addresses retail startups and existing retail businesses intending to start or extend their business to Dubai. In its retail business consulting services, YRC maintains that a retail business startup in Dubai ( https://www.yourretailcoach.ae/services/business-strategy-consulting/ ) is an attractive idea but at the same time, there is no room for ordinary ways of doing business here.

Is there any existing leverage to run a retail business in Dubai?

Having a leverage that could be converted into a strategic advantage for business is a boon. This leverage could be specialised knowledge or any active engagement in the same line of business. For example, many exporters tend to possess an insightful understanding of demand, consumer behaviour, supply chain and logistics, etc. in their respective product lines.

Is there a scope for creating and executing a disruptive business model?

Dubai is no ordinary city. It is one of the global retail hubs. The standards of retailing are at world-class standards here. So, to do something better than what already exists, startups in Dubai have to think in terms of strong value propositions. This needs to be seen in the context of target segments and direct competition.

Focused market research

The level of competition in a market speaks for its potential. But it also tells that such markets are tough for business development ( https://www.yourretailcoach.ae/services/business-model-development/ ). Focused market research ( https://www.yourretailcoach.ae/services/market-research/ ) helps businesses understand a market as per their specific and unique requirements. For example, a cosmetic company may be interested in knowing about the product gaps in a target market in consideration of the price range.

Understand the regulatory requirements and consider the paperwork involved

Dubai is popular because of its business-friendly regulatory environment. But that does not mean leniency. The law of the land must be followed as it is the case anywhere else in the world. YRC recommends taking expert assistance as there are technicalities involved that may be very different from what is in a home country.

YourRetailCoach Dubai
Marina Plaza
Al Marsa St
Dubai Marina
Dubai
United Arab Emirates (UAE)
Phone: +91-9860-426-700
Email: consult@mindamend.net

YRC is a Management Consulting Firm with its presence across India & Dubai.

Get advise for E-commerce retail business : http://www.yourretailcoach.ae/contact-us/

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