The Middle East has emerged as a key market for retailers across the world. Retail has been one of the fastest growing industries in the region for the past few years. Favorable government policy frameworks and active participation by the private sector have facilitated the region and its retail industry to become one of the world’s most desirable retail environments, in terms of investments and revenue generation. Moreover, changing market dynamics, rapid economic development, balancing crude oil prices, rising purchasing power, and strong consumer confidence are strengthening the region’s retail industry.
The retail culture has evolved from traditional outlets to large shopping malls, hypermarkets, supermarkets, and organized chains. Changing consumer demographics in countries, like Saudi Arabia and the UAE, presence of large expatriate population, improving purchasing power, and abundance of petro dollar have attracted premium and luxury brands to the region.
Our team of experts has also found that the Gulf region has undergone the biggest transformation in floor space in the retail history. Massive capital investments will bring transcendental changes in the physical setting of the shopping experience. The expansion of retail space in the Middle East, and the construction of new malls will provide opportunities to both national and international retailers (including brands) to increase their presence and penetration in the region. Besides, we also anticipate that the Middle East retail industry will grow at a CAGR of around 10% during 2011-2014 to reach over US$ 1,000 Billion by 2014.
Our report “Middle East Retail Sector Forecast to 2013” provides an extensive research and in-depth analysis on the country-wise retail sector in the Middle East. It will help clients analyze leading-edge opportunities critical to the success of the retail industry in the Middle East countries. Detailed data and analysis will help investors, builders, and global retail players navigate through the Middle East’s evolving retail sector.
Besides, the report also analyzes macroeconomic factors critical to the retail sector, along with their impact on the sector. It also identifies key players in each country and includes their detailed business descriptions. Additionally, the report sheds light on the emerging industry trends, which are expected to decide the future of the region’s retail sector.