Retail

Industry Forecast - Mass Grocery Retail (MGR) - Q1 2008

We are forecasting incredibly strong sales growth of 90.6% in the UAE’s MGR sector to 2012, with all formats predicted to contribute considerably, although the hypermarket and the convenience sectors are likely to be the main drivers of growth.

The country’s MGR sector will benefit enormously from its wealth and from its status as the country to look to for future regional trends. UAE’s oil wealth has, and is likely to continue to, benefit the country’s economy, leading to high levels of consumer confidence, which translate into high levels of food and drink spending.

News Analysis: Retail boom set to reduce Omani petrodollar reliance

With a spate of residential and tourism projects underway, Oman finally looks capable of reducing its long-standing reliance on oil and gas revenues. Retail outlets—from large-scale malls to smaller boutique outlets—are significant components of many of the Sultanate’s grand new developments. While Oman’s rate of retail spending has been relatively steady since 2004, the trend is expected to grow over the next five years, according to analysis group, Planet Retail.

New consumer trends drive growth of Saudi tea market

Deeply rooted in Saudi culture, tea drinking is big business in the Kingdom with an annual market value of approximately SR 1 billion, a figure which is continuously growing due to increasing consumer demand for quality, freshness, variety and innovation.

Mideast US$100 billion retail boom to outpace global slowdown

The retail phenomenon sweeping through the Middle East and Arabian Gulf states in particular is robust enough to withstand a US-led global economic downturn, says an industry expert.

“With the Middle East retail sector estimated to be worth in excess of US$100 billion annually, second only to residential property in the non-oil economy, the issue is of critical importance, but one which the GCC economies can cope with,” said Naomi Koningen, Project Manager of Retail City 2008, organised by IIR Middle East.

Geepas hypermarket chain to open in Bahrain

Regional electronics and home appliances provider, Geepas said it would be entering the hypermarket sector in Bahrain through its retail arm, Nesto Group. An initial hypermarket is scheduled for the upmarket Seef district next year.

Several supermarket and hypermarket chains, including international names such as Lulu and Geant as well as some strong local companies, have already been drawn to the Bahrain’s booming retail sector.