NewswireToday - /newswire/ -
Noida, Uttar Pradesh, India, 2010/08/13 - With the increasing household consumption and booming tourism, food retail sales in the UAE is expected to grow at double digit CAGR during 2010-2013, says RNCOS.
According to our new research report “Booming Retail Sector in UAE”, the UAE retail industry has continued to roll on fast growth track even in post recessionary phase and orchestrated phenomenal year-on-year growth in 2009. Almost unaffected household spending, sustained income levels and aggressive marketing strategies adopted by players helped the industry to buck the negative impacts of economic crisis. Especially, the food retail segment reamed the prominent growth driver for the retail industry which is poised for almost 10% CAGR growth during 2010-2013.
The report has revealed that at present, alcoholic beverages are not included in food retail offerings. The retail sales of pork through supermarkets are also under strict supervision. Hence, these regulations limit the food retail sales growth in the country. However, the rising household consumption and tourism expansion compensate the sector growth.
Further, the rapid development of modern retail infrastructure is luring consumers for convenient shopping experience and transforming into high retail spending. Dubai’s per capita gross leasable area (GLA) is expected to reach 2.35 Sq Meter mark by 2010 end, which is one of the highest in the world. We anticipate that this trend will prevail in coming years and gradually boost the retail sales growth.
Not only food retail but also other segments (including apparel, cosmetics and personal care, computers and air conditioning equipments) have shown remarkable growths over the past few years. We anticipate almost similar trends to remain applicable in coming years on account of various factors discussed and analyzed thoroughly in the report.
“Booming Retail Sector in UAE” provides unmatched research and conceptual analysis of the UAE retail industry. It facilitates information/statistics of various prominent retail segments such as food retail, apparel, consumer electronics, cosmetics and personal care, beverages. Historical, current and forecasts market trends have been included for all aforementioned segments to provide deep market understanding to clients. The report also covers brief business description of key players operating in the industry which completes a balanced research outlook of the industry.
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.