Saudi market deflation to end soon, says Fitaihi chairman

The current deflation and low sales in the Saudi market are “temporary” and are expected to end soon, Ahmed Fitaihi, Fitaihi Holding Group's Chairman, said in a Snapchat interview.

“The market will be fine, but this depends on those who respond to its conditions. The market is in need of innovation and creative solutions,” Fitaihi said.

Answering a question about on e-commerce, Fitaihi said e-commerce did not work out in the jewelry sector as buyers prefer to buy jewelry directly from retailers. However, matters differ and e-commerce had a positive impact in other industries.