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.
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