The long-term prospects of the GCC retail industry continue to remain positive owing to economic growth, favorable demographics, relaxation of visa rules and liberalization policies. Furthermore, the ambitious agendas adopted by the GCC governments to diversity their economies are leading to significant advancements in the infrastructure and tourism sectors. This is expected to further enhance the value proposition of the region. Going forward, larger e-commerce players are likely to acquire niche operators offering customized products and services while traditional players will continue to collaborate with digital platforms to reach out to a wider audience.
Alpen Capital’s comprehensive industry research reports on the retail sector feature forecasts on the size of the market including food and non-food retail sales across the six GCC nations, along with in-depth analysis on recent trends, growth drivers and challenges facing the segment. Furthermore, the report also profiles some of the select retail companies in the region.
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GCC Retail Industry Report
Alpen Capital’s latest retail sector report for the GCC projects the industry to witness growth at a compounded annual growth rate (CAGR) of 4.6% between 2023 – 2028, with UAE and Saudi Arabia leading the region’s growth at CAGRs of 5.4% and 5.1%, respectively. Non-food retail sales are anticipated to grow at a CAGR of 4.3%, while food retail sales are expected to rise at a pace of 5.0% CAGR between 2023 and 2028 in the GCC.
Retail sales in the GCC nations are projected to grow in the range of 1.0% and 5.4% CAGR between 2023 and 2028. Saudi Arabia and the UAE are projected to grow at a CAGR of 5.1% and 5.4% to reach US$ 161.4 billion and US$ 139.1 billion, respectively. Retail sales in Kuwait and Bahrain are projected to witness a CAGR of 3.1% each between 2023 to 2028, whereas Qatar and Oman are expected to grow at a CAGR of 2.2% and 1.0%, respectively. Duty free sales at the airports in the GCC (Dubai, Abu Dhabi, Qatar and Bahrain) are expected to reach US$ 4.7 billion in 2028, growing at a CAGR of 9.3% between 2023 and 2028.
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Alpen Capital’s team specializes in advising retail companies on raising funds for expansion as well as on cross-border and intra-regional acquisitions, helping them enhance their market position and broaden their portfolio.
