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UAE Retail Industry Forecast to 2015
UAE’s insistence on evolution backed by the growing economy, rising purchasing power, and strong consumer confidence has shaped retail with a new dimension. Along with these favorable conditions, supportive government policy frameworks and active participation by the private sector have further facilitated retail sector’s growth in the country. If one were to borrow a boxing parlance, the openings of new malls represent a series of knockout punches to any wannabe competition. The country's leapfrogging into the top tier of the global rankings of the prime retail destinations is just reward for all the effort put in by the mall developers.
Further, by our new analysis in the latest research report, “UAE Retail Industry Forecast to 2015”, the UAE retail industry has been witnessing strong growth in sales for the past few years and is expected to grow in the coming years as well. Surging public and private sector consumption along with the contribution of strong industry verticals (tourism, trade, banking, etc) are expected to help the retail industry to grow at a CAGR of more than 3% during 2012-2015.
As per our research, the UAE has secured second rank in the presence of international retailers in its retail market. And the country’s topmost city, Dubai has also been ranked second in international retailer’s presence in 2012. Our report covers analysis of both food and non-food retail sector along with the future forecast.
Among the non-retail sector, color cosmetic products market has shown an impressive performance and is expected to grow at a CAGR of around 28% during 2010-2015. Thus, our report also covers information about businesses in the hair care and fragrance market in the UAE. In addition, we have carried an analysis on the footwear and clothing sales market in UAE with future market analysis too.
Rapid development of modern retail infrastructure is luring consumers for convenient shopping experience and transforming them into high-retail spending. Per capita gross leasable area (GLA) is also increasing in the country with construction of new malls and expansion of some of the existing malls. In addition, fast inflow of foreign retailers is fuelling growth in the shopping mall retail area development. We anticipate that, this trend will prevail in coming years and gradually boost the retail sales growth.
Our report “UAE Retail Industry Forecast to 2015” is an outcome of an extensive research and thorough analysis of retail industry in the UAE. It facilitates statistics and analysis of all prominent market segments to provide deep and informative understanding of the market. Further, our report ventures a brief overview of prominent players operating in the industry along with their business description to provide a balanced treatment of the analysis. Overall, the report presents a complete and coherent analysis of the UAE retail industry, which will prove decisive for the clients.