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UAE Retail Market Report 2022: Rising Support from Tourism Sector Fueling Growth - ResearchAndMarkets.com

Published : Thursday, October 6, 2022, 4:49 am
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DUBLIN--(BUSINESS WIRE)--The "UAE Retail Market, By Type (Food Retail v/s Non-Food Retail), By Type of Market, By Distribution Channel (Supermarkets/Hypermarkets, Online, Baqala Stores, Departmental Stores, Exclusive Stores and Specialty Retailers), By Region, Competition, Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.


UAE retail market is anticipated to grow at a CAGR of 5.88% during the forecast period to reach around USD37.70 billion by 2027F on account of a number of factors, including rising per capita income, a booming tourism sector, an increase in the number of expatriates living in the nation, and an increase in the number of new construction projects, including Deira Mall in Dubai, Al Maiyah Central in Abu Dhabi, Cityland Village in Dubai, Tilal Mall in Sharjah, and Reem Mall in Abu Dhabi, among others.

Rising Support from Tourism Sector Fueling the Market Growth

The travel and tourism sector in the United Arab Emirates makes up about 5 to 6% of the total nation's GDP. More than 80 million tourists visit Dubai's malls each year, making it one of the world's top tourist destinations. Millions of tourists visit the emirate every year, boosting the market and benefiting the vast retail estate. The COVID-19 pandemic affected the tourism sector worldwide. However, various initiatives taken by the UAE government helped to recover of the retail sector in the country. One of the world's swiftest immunization campaigns was carried out by the UAE, which over the past year has aided in tourism and economic recovery. In order to hasten the revival of the UAE tourism industry, the government also took a number of actions. Additionally, the Emirates Tourism Council established a collaborative action plan in 2021 with the Ministry of Economy and regional tourism offices to boost the number of foreign visitors to the UAE and prioritize new source markets to draw tourists. Such initiatives are estimated to continue to boost the tourism sector of UAE in the future years and further increase the retail sales of the nation.

Increasing Household Spending Increasing the Market Growth

People in the UAE are spending more money due to the rising GDP and disposable income. According to the World Bank, the country's final consumption expenditure as a percentage of GDP increased from 51.5% in 2019 to 53.2% in 2020. Therefore, the rising spending level of consumer would further increase the demand for products and services from retail sector.

Consumers are focusing on the product quality and life rather than the price which is further aiding the growth of retail market of the country. In the first quarter of 2022, consumer spending in the UAE increased 14%, due to the support from government programs designed to speed up the country's recovery from the COVID-19 pandemic. According to the State of the UAE Retail Economy report, the majority of the retail economy's sectors experienced growth in the first quarter of 2022, with the food and beverage sector leading the way. Such factors are anticipated to further increase the market growth in the forecast period.

Increasing Online Retailers Aiding the Market Growth

In the UAE, more and more customers prefer to make purchases online due to the country's high and growing internet penetration. Online sales may enable market players to reach out to the most remote areas of cities without the need for a physical site, supported by a range of distribution networks and logistics.

Customers are increasingly using the internet to purchase items due to a number of factors, including the wide selection of items, discounts, and other various offers available online. Moreover, due to the region's rising e-commerce demand and the rapid use of smartphones and social media platforms, e-commerce retail is still growing. The UAE retail market is also driven by better access to safe online payments and the continuous improvement of transportation capabilities.

Report Scope:

In this report, UAE retail market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

UAE Retail Market, By Type:

  • Non-Food Retail
  • Food Retail

UAE Retail Market, By Type of Market:

  • Organized
  • Unorganized

UAE Retail Market, By Distribution Channel:

  • Supermarkets/Hypermarkets
  • Online
  • Baqala Stores
  • Departmental Stores
  • Exclusive Stores
  • Specialty Retailers

UAE Retail Market, By Region:

  • Dubai
  • Abu Dhabi
  • Sharjah
  • Ajman
  • Rest of UAE

Key Topics Covered:

1. Service Overview

2. Research Methodology

3. Impact of COVID-19 on UAE Retail Market

4. Executive Summary

5. Voice of Customer

6. UAE Retail Market Outlook, 2017-2027F

7. Dubai Retail Market Outlook

8. Abu Dhabi Retail Market Outlook

9. Sharjah Retail Market Outlook

10. Ajman Retail Market Outlook

11. Market Dynamics

12. Market Trends and Developments

13. Policy and Regulatory Landscape

14. Import & Export Analysis

15. Pricing Analysis

16. UAE Economic Profile

17. Competitive Landscape

18. Strategic Recommendations

19. About the Publisher & Disclaimer

Companies Mentioned

  • Majid Al Futtaim Group
  • Lulu Group International
  • Union Cooperative Society
  • Spinneys Dubai LLC
  • Landmark Group
  • Azadea Group
  • Amazon (Souq)
  • M.H. Alshaya Company (Al Shaya Group)
  • Fathima Group of Companies
  • Al Maya Group LLC

For more information about this report visit https://www.researchandmarkets.com/r/iytxi4


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