Panasonic Has The Middle East And Africa Firmly In Its Sights
As Region Offers Growth Potential
Panasonic Marketing Middle East and Africa (PMAAF) is strategically positioned to leverage the Japanese conglomerate’s 106-year-old legacy while embracing innovation and market diversification in the region.
In an exclusive interview with ‘Middle East News 247’, Hiroyuki Shibutani, CEO of Dubai-headquartered PMAAF, details how the company focuses on ensuring sustainable growth in the consumer and B2B segments.
Excerpts from the interview:
How significant is the Middle East and Africa region to Panasonic’s global revenue?
The Middle East and Africa region contributes approximately 5% to our global revenue of $60 billion (AED220.8 billion). Despite this percentage, the region remains a pivotal market for us due to its strategic importance and rapid growth potential in sectors like consumer electronics and B2B solutions.
With Panasonic’s century-long legacy, how do you navigate global competition today?
Our legacy is a foundation, but we are also evolving to meet the demands of a new generation. We invest in innovative products like beauty care, catering to younger demographics while maintaining our historical brand integrity and global competitiveness.
What is Panasonic’s growth strategy for the Middle East and Africa?
Our strategy focuses on premium consumer products and expanding our presence in e-commerce. We anticipate 20% annual growth over the next five years. Additionally, we emphasise B2B solutions, including residential and energy solutions, aligning with local needs and market demands.
We anticipate steady growth in consumer electronics and aim to capitalise on B2B opportunities, particularly in sustainable energy solutions.
What are Panasonic’s key challenges in the Middle East and Africa?
Short-term challenges include supply chain complexities and regional risk management. Long-term execution speed and competitive investment environments in key regional markets like Saudi Arabia remain pivotal for sustained growth.
Overcoming short-term challenges like supply chain issues and accelerating our investment pace are crucial for our long-term success.
How is Panasonic leveraging AI and IoT to innovate and reach new customers?
AI is crucial in our supply chain management and product development. We have integrated AI-driven solutions to enhance forecasting and operational efficiencies. Additionally, our Wi-Fi-enabled products exemplify our commitment to technological advancement and customer engagement across diverse markets.
How do consumer needs in the Middle East and Africa differ from those globally?
Consumer preferences worldwide are becoming increasingly similar, emphasising quality and unique experiences. This region has a deep appreciation for Japanese culture and a preference for premium products that deliver functionality and cultural resonance.
Featured image: Hiroyuki Shibutani, CEO of Panasonic Marketing Middle East and Africa, addresses a news conference in Dubai on May 28, 2024. Credit: Arnold Pinto
