Retail Business in UAE to Top US$ 21 Billion by 2013
By: noina dodo
Submitted: 2010-06-11 20:27:02 | Word Count: 404
In line with our latest market research offering, “Booming Retail Sector in UAE”, UAE represents one in all the fastest growing retail industries in entire MENA region. Even within the wake of economic slowdown, the industry achieved double-digit year on year growth in 2009 and outpaced recessionary effects comfortably. Our research further indicates that surging private and non-private sector consumption together with the contribution of sturdy business verticals (tourism, trade, banking, etc.) are expected to further boost the retail sales in the country and industry CAGR for 2010-2013 is anticipated to remain in double-digit bracket.
The research reveals that service sector strongly supports the retail activities in UAE. As an example, the tourism industry has boosted retail spending in recent times, and in 2009, the segment emerged because the second largest retail sales channel within the UAE. In the line of billions of dollar value of tourism infrastructure developments, the country is anticipated to receive eighteen Million foreign tourists by 2016. These tourists not only bring foreign currency into the country however additionally make huge contribution to the retail industry by substantially spending in malls and local shops.
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“Booming Retail Sector in UAE” is an outcome of in depth research and objective analysis of the retail trade within the UAE. It facilitates statistics and analysis of all outstanding market segments together with food and beverage, food retail, apparel, cosmetics, consumer electronics, etc. to provide deep and informative understanding of the market. The report conjointly examines the buyer behavior scenario with respect to purchasing choices, spending pattern, and inclination towards domestic and foreign brands. We tend to have conjointly identified all the key players in the Competitor Analysis section of the report. The section talks about the business profile and strategic moves of the leading players operating within the sector.
Most importantly, the report has conjointly given the industry forecast primarily based on correlation of past drivers, challenges and opportunities for expansion. During this manner, the report presents an entire and coherent analysis of the UAE retail industry and will prove decisive for clients.
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