Retail Reimagined: Driving Economic Growth Through Innovation & Collaboration

The retail sector stands as a cornerstone of Pakistan’s economy, contributing significantly to the national GDP, generating employment for millions, and driving both domestic and international commerce. In a landscape shaped by evolving consumer preferences, digital advancements, and shifting economic dynamics, platforms such as the recently concluded Pakistan Retail Business Conference 2025 play a crucial role in fostering industry dialogue, innovation, and collaborative growth. Hosted by the Pakistan Retail Business Council (PRBC), the conference brought together key stakeholders, policymakers, and thought leaders under the theme “Retail Reimagined: Innovate, Collaborate & Thrive.” Keynote addresses were delivered by Muhammad Aurangzeb, Minister of Finance and Revenue, and Ahsan Iqbal, Minister of Planning Development, and Special Initiatives. The event explored ways to accelerate the sector’s evolution, drive policy reform, and support a business-friendly environment. The presence of government representatives, industry pioneers, and international experts highlighted the critical role retail plays in Pakistan’s economic future. Retail in Pakistan is one of the largest economic contributors, accounting for approximately 18% of the country’s GDP and employing over 16% of the workforce. With an estimated 3.5 million businesses operating within the sector, retail remains a key driver of economic activity and consumer spending. The sector’s success is directly tied to national economic stability, and as such, progressive dialogue and policy support are necessary to ensure sustainable growth. Despite its significant economic contributions, Pakistan’s retail sector faces multiple challenges, including: Retail leaders and policymakers at the conference emphasized the need for stronger government support in shaping a conducive environment for retail businesses. Key recommendations included: One of the pivotal discussions at the conference was on ‘Made in Pakistan: Supporting Local Industry’, where panelists emphasized the importance of empowering homegrown brands to strengthen the national economy. With Pakistan’s textile, apparel, footwear, and consumer goods industries gaining traction internationally, there is an urgent need to position local brands for global competitiveness. The future of retail is digital, and discussions on e-commerce and digital payments shed light on how Pakistan’s retail sector can leverage fintech solutions to drive efficiency, expand customer reach, and enhance consumer experiences. With platforms like Daraz, Keenu, and JazzCash playing a crucial role in digitizing transactions, panelists explored strategies to integrate digital payments and strengthen the retail ecosystem. The Pakistan Retail Business Conference 2025 successfully highlighted the immense potential of Pakistan’s retail sector while also addressing the pressing challenges that need resolution. By fostering progressive dialogue, encouraging innovation, and advocating for policy reforms, such platforms pave the way for sustainable growth and economic prosperity. With retail positioned as a key driver of Pakistan’s economic future, continued collaboration between government bodies, industry leaders, and emerging entrepreneurs will be essential to ensuring a resilient and thriving retail landscape. Established in 2017, Pakistan Retail Business Council (PRBC) is an association of Pakistan’s leading retail business groups and corporations with a common goal, to improve the retail landscape in the country. The primary objective of PRBC is to bring advancement in the retail sector via public-policy advocacy, thought leadership, operational excellence and innovation that fosters both economic growth and sustainability. For more: : https://prbc.org.pk/