UAE Retail Market Report 2022: Growing Support from Tourism Sector Fuels Growth – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “UAE retail market, by type (food retail vs. non-food retail), by market type, by distribution channel (supermarkets/hypermarkets, online, Baqala stores, department stores , Exclusive Stores and Specialty Retailers), By Region, Competition, Forecast and Opportunities, 2027 Report” has been added to from ResearchAndMarkets.com offer.

The UAE retail market is expected to grow at a CAGR of 5.88% over the forecast period to reach approximately USD 37.70 billion by 2027F due to a number of factors including the increasing per capita income, a booming tourism sector, an increase in the number of expatriates living in the country and an increase in 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.

Growing support from the tourism sector is fueling market growth

The travel and tourism sector in the United Arab Emirates accounts for around 5-6% of the country’s total GDP. More than 80 million tourists visit Dubai‘s malls every year, making it one of the top tourist destinations in the world. Millions of tourists visit the emirate every year, energizing the market and benefiting the vast commercial domain. The COVID-19 pandemic has affected the tourism sector worldwide. However, various initiatives taken by the UAE government have contributed to the recovery of the retail sector in the country. One of the fastest vaccination campaigns in the world has been led by the United Arab Emirates, which over the past year has helped tourism and economic recovery. In order to accelerate the revival of the tourism industry in the United Arab Emirates, the government has also taken a number of measures. In addition, the Emirates Tourism Board has established a collaborative action plan in 2021 with the Ministry of Economy and regional tourism boards to increase the number of foreign visitors to the UAE and prioritize new source markets to attract tourists. It is estimated that such initiatives will continue to boost the UAE’s tourism sector in the years to come and further increase the country’s retail sales.

Increase household spending Increase market growth

People in the UAE are spending more money due to 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 increase in the level of consumer expenditure would further increase the demand for retail products and services.

Consumers focus on product quality and shelf life rather than price, which further contributes to the growth of the country’s retail market. In the first quarter of 2022, consumer spending in the United Arab Emirates increased by 14%, thanks to the support of government programs designed to accelerate the country’s recovery from the COVID-19 pandemic. According to the State of the UAE Retail Economy report, the majority of retail economy sectors saw growth in the first quarter of 2022, with the food and beverage sector leading the way. . These factors are expected to further increase the market growth over the forecast period.

Rise of online retailers driving market growth

In the United Arab Emirates, more and more customers prefer to shop online due to the high and growing internet penetration in the country. Online sales can allow market players to reach the most remote areas of cities without the need for a physical site, supported by a set of distribution and logistics networks.

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 growing demand for e-commerce in the region and the rapid use of smartphones and social media platforms, online retail continues to grow. The UAE retail market is also being boosted by better access to secure online payments and the continued improvement in transportation capabilities.

Report Scope:

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

United Arab Emirates retail market, by type:

  • Non-food retail

  • Food retail

United Arab Emirates retail market, by type of market:

UAE retail market, by distribution channel:

  • Supermarkets/Hypermarkets

  • On line

  • Baqala stores

  • Departmental stores

  • Exclusive shops

  • Specialized retailers

UAE retail market, by region:

  • dubai

  • Abu Dhabi

  • Sharjah

  • Ajman

  • Rest of the UAE

Main topics covered:

1. Presentation of services

2. Research methodology

3. Impact of COVID-19 on the UAE retail market

4. Executive Summary

5. Voice of the 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 and export analysis

15. Price Analysis

16. UAE Economic Profile

17. Competitive Landscape

18. Strategic Recommendations

19. About the publisher and disclaimer

Companies cited

  • Majid Al Futtaim Group

  • Lulu International Group

  • Cooperative Union

  • Spinneys Dubai LLC

  • historical group

  • Azadea Group

  • Amazon (Souq)

  • MH 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

About Tammy N. McFarlane

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