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Retail

GCC retail sector, unlike in other regions, is not just a source of shopping but is a source of entertainment. The post pandemic world is expected to be never like before and experts have christened it as the “new-normal”. The GCC retail sector is no exem

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Overview

Compared to developed and emerging markets, online retail in the GCC is still at a very nascent stage. The size of the e-commerce business in the GCC is less than USD 7bn, while countries in Asia-Pacific, North America and Western Europe presently account for 90 per cent of the global e-commerce sales. Currently, e-commerce is being developed as an extension of physical retail stores in the GCC, with few alternatives for pure retail channel websites. But with rapidly improving ICT infrastructure, increasing number of internet users, and high penetration of smartphones and tablets, the popularity of e-commerce is increasing among consumers and retailers.

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UAE Retail Sector

UAE, in general, and Dubai, in particular, is positioned as a shopping destination of the world. The market caters to both the domestic population as well as the large number of tourists visiting the country every year. The major players operating in the UAE retail market are Lulu Group, Majid Al Futtaim, Landmark Group, Al Azizia Panda United Inc., Azadea, EMKE Group, Fathima Group of Companies, Carrefour, Spinneys Dubai LLC, Al Maya, among others. E-commerce offers attractive investment opportunities in the sector.

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