The Middle-East retail industry is expected to grow at a CAGR of 4.0 percent from US$ 360.4 Billion in 2020 to US$ 438.5 Billion in 2025. Following a drop in 2020, retail sales are expected to recover and grow through 2025, owing to population growth and international tourist arrivals.
- Definition / Scope
- Market Overview
- Key Metrics
- Market Risks
- Market Drivers
- Market Restraints
- Industry Challenges
- Technology Trends
- Post COVID Recovery in the Retail Industry in the Middle-East
- Market Size and Forecast
- Market Outlook
- Technology Roadmap
- Competitive Landscape
- Competitive Factors
- Key Market Players
- Strategic Conclusion
Definition / Scope
The retail trade market encompasses all activities involving the direct sale of goods or services by a corporation to a consumer, which are often purchased for personal or family use.
Retailers are divided into two types: retail and institutional. One thing they have in common is that they both involve a large number of minor transactions. Instead, the wholesale market is a marketplace for businesses (rather than individual consumers); some enterprises engage in both activities at the same time.
Usually, the activities included in the retail market can be distinguished in three different macro-areas:
Food products: includes all the activities that distribute food and related products to consumers
Consumer goods: includes all the activities that sell products, many of which can be reused over time
Durable consumer goods: includes activities that provide consumers with longer lasting products such as household appliances, furniture, or cookware.
There are 5 different types of activities in the Retail Industry which includes
- The first is what is referred to as "fixed location" retail. This is a traditional store where things can be purchased. This form of retail is typically located along street streets or in shopping malls.
- Supermarkets are the second type of retail. The range of products available in this situation is substantially broader, spanning from household items to technology and food.
- Discount stores make up the third group. While discount stores are comparable to supermarkets, this category is more food-oriented and frequently sells "off-brand" goods that are sold at retail and at lower prices than those found in supermarkets.
- Temporary stores are the fourth category. These types of businesses are usually only open for a short amount of time and are located in high-traffic regions. This is because temporary shops are frequently used as part of a marketing strategy, serving as a physical touch point for the debut of a new product or the consolidation of an existing brand.
- Vending machines are the fifth category. The store is virtually non-existent in this situation, and the service is fully automated. The intriguing thing is that, in comparison to the past, the variety of things available from vending machines has grown; they now include anything from food to pharmaceuticals to tiny objects.