2012-09-24 21:06:33 - UAE retail industry dominated by Carrefour and Al-Futtaim
The UAE retail industry has been witnessing strong growth in sales for the past few years and is expected to continue this momentum, increasing at a compound annual growth rate (CAGR) of more than 3% through 2012-2015.Retail has been one of the fastest growing industries in the UAE for the past few years. Favourable government policy frameworks and active participation of private sector have facilitated one of the world´s most desirable retail environments in terms of investments and revenue generation.Surging public and private sector consumption along with the contribution of strong industry verticals (tourism, trade, banking, etc) are expected to be key drivers within the market.Furthermore, the UAE´s insistence on evolution backed by the growing economy, rising purchasing power, and
strong consumer confidence has shaped retail with a new dimension.The colour cosmetic products market has shown an impressive performance and is expected to grow at a CAGR of approximately 28% during 2010-2015.The 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 the expansion of existing malls.The leading players in retailing include a number of local franchisees operating international brands and domestic grocery retailers. The first group includes Majid Al Futtaim Hypermarkets´ Carrefour and Al-Futtaim with IKEA, Ace Hardware, Marks and Spencer and Toys "R" Us.These players benefit from offering strong brands, with many consumers regarding international brands as offering a higher level of quality.For more information on the UAE retail industry, see the latest research: UAE Retail Industry ReportFollow us on Twitter @CandMResearch
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