Panda holds PACE with suppliers to tackle global inflation

Panda Retail Company yesterday held its first annual event for suppliers: "PACE" (Panda Annual Collaborative Event), at The Venue Jeddah Corniche Hotel. PACE focused on empowering people to live a better life, discussing the local and international impacts of inflation, and finding solutions to ensure consumers are protected from the worst inflationary effects. PACE was attended by more than 300 company executives and key journalists who were keen to cover the event.

Inflation and food security

The CEO of Panda Retail Company, Dr. Bander Talaat Hamooh, confirmed the importance of establishing the "PACE" event, which comes as an extension of the support provided by wise leadership to find practical solutions and facilitate better customer experience in the retail sector. Dr. Hamooh was grateful for the submission of the government of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, and His Royal Highness Prince Muhammad bin Salman, for a number of initiatives that contribute to reducing the effects of inflation on consumers in the Kingdom.

He added that Panda played a strong part in the "Ma tegla alik" campaign launched by the Federation of Saudi Chambers in collaborative with the Chambers of Commerce to provide basic food commodities at reduced prices, including over 40 basic items such as chicken, eggs, rice, milk, oils, meat, and others.

Hamooh said “as an extension of government initiatives, Panda Retail Company launched an innovative campaign entitled “Thabatn’aha”, to reduce and fix the prices of more than 300 commodities in all its branches around the Kingdom of Saudi Arabia, assisting families in an economical consumer experience, in addition to providing solutions that ensure a more efficient shopping experience.”

He added, “The company is working with its strategic suppliers for practical solutions to absorb the effects of global inflation on customers so that they do not feel its repercussions and effects, which confirms its national duty, based on being the leading and most widespread chain of stores in the Kingdom.”

Food security was among the key discussions that took place at the “PACE” for it is a major priority for Panda and on top of its strategies. The company works closely with its partners and suppliers at both local and international levels, to address the shortage of food supply chains and providing them with affordable prices for customers and consumers.

Supporting local industries

Among the main topics discussed at the "PACE" event was the importance of supporting national industries to strengthen the Saudi national economy. Panda Retail Company was keen to support the “Made in Saudi Arabia” program launched by His Highness the Crown Prince in March 2021, which is a national initiative affiliated with the Saudi Export Development Authority, and emanating from the National Industry Development and Logistics program (NIDLP). The program aims to stimulate national industries, encourage consumers to buy local commodities and develop the Kingdom's exports to global markets.

Panda is one of the Kingdom’s large retail stores that dedicated branches and e-commerce to display national commodities conforming to the “Saudi Made” identity in order to increase the pride and loyalty levels by directing the purchasing power toward them through the “Made in Saudi Arabia” program, and through the marketing and promotional efforts that succeeded in increasing the value and status of national products in local markets.

Panda plays an important role in empowering people to live a better life, in line with the objectives of the "Quality of Life" program, one of the most important programs of the Kingdom's Vision 2030 which Panda has been proactively supporting since its launch by facilitating points of sales for SMEs to market their products in all its branches in the Kingdom. Some of these families were honored at the "PACE" event for their contributions to national economic growth.

Digitization and customer experience

The "PACE" event demonstrated Panda Company's efforts in implementing a number of projects in the "Reformulating the Concept of Shopping" program, to keep pace with the world's accelerated digital transformation in line with the Kingdom's Vision 2030, which will reflect positively on sustainable development and create a competitive climate for customers’ best interests.

Panda now has highly innovative efficiency in improving customer experience, whether through the design of its branches spread across the Kingdom or through a digital entertainment shopping industry. This has resulted in massive transformation of rapid and unprecedented technological innovation, and has been reflected in customer interaction providing distinctive shopping experiences as well as an improvement in customer purchasing habits.

By organizing the "PACE" event, Panda strengthened its role in redefining the retail customer experience, which contributes to achieving its vision of sustainable leadership in the retail market based on a creative approach to gaining customers' trust, as well as sharing its positive view on the national economy.

Panda Retail Company remains proactive in keeping pace with changing times to improve the customer experience. In this way, it always seeks to support programs and services that care about society and the environment to achieve its goal of community participation for a better life.