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Noida, Uttar Pradesh, India, 2010/10/22 - The retail sales in Saudi Arabia are expected to touch the figure of US$ 81 Billion by 2013, says RNCOS in its research report.
Our report “Middle East Retail Sector Forecast to 2013” has identified Saudi Arabia as the most potential and dynamic retail market in the region. The presence of large expatriate population and majority of region’s retail investment in the country has helped to maintain the growth momentum. The retail sales are expected to touch the figure of US$ 81 Billion by 2013. We have also analyzed other Middle East retail countries including Turkey, Egypt, Iran, Israel, the UAE, Jordan, Oman, and Kuwait. The report provides future forecast of retail sales in these countries till 2013 and other details on their retail market.
We have found that tourism is the most significant factor responsible for growth in the Middle East retail market. Jordan and the UAE are two countries that are heavily promoting tourism. The UAE has undertaken a campaign to build artificial islands and hotels away from the coast of Dubai. Saudi Arabia, which earlier resisted any form of tourism now, allows limited tourist stay. Yemen and Oman are underdeveloped nations in terms of tourism, but holds huge potential. We have also identified other factors responsible for retail market growth with a overview on them.
Our study reveals that with the rising popularity of Web 2.0, there are far greater opportunities for retail giants. As more and more people are sharing personal information online via websites like Facebook, and Xing, retail companies can monetize online investment by studying consumption patterns, direct contact with the consumer, and cost effective online product testing. Online sales are the key growth market for the Middle-East retailers amidst the global recession. Our report provides an insight on the emerging opportunities in Middle East retail market.
We have identified that being an Islamic region; there exist certain ethical and religious issues in some countries of the Middle East, which need to be understood while going for any business initiative in the region. Besides, we have found other challenges that retailers have been facing in the region. Our report also provides an overview on key player’s business description.
RNCOS (rncos.com) specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.