According to Alpen Capital, the GCC retail sales are expected to grow at a 7.3% CAGR between 2013 and 2018 to reach $284.5 billion. Food retail sales growth is anticipated to out-perform the non-food retail sales due to higher demand for healthier and high-value food in the region. Sales at supermarket and hypermarkets in the GCC are expected to reach at $59.3 billion, translating into a five-year CAGR of 9.2%. This growth is expected to be driven by increasing disposable incomes and modernisation of the industry.
Airport-based duty free sales in the Middle East are estimated to increase from $3.9 billion in 2013 to $6.6 billion in 2018. This growth is expected to be driven by robust passenger traffic across all the leading airports in the region. The personal luxury goods segment in the Middle East is expected to grow at a 4.6% CAGR between 2013 and 2018 to reach $9.4 billion in sales.
Offering a comprehensive perspective on the GCC retail industry, Alpen Capital’s GCC Retail Industry report looks into major market characteristics and changing dynamics of the industry. The report examines the key sub-segments of the retail market by analysing the fundamental growth drivers and significant challenges and developments.
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