UAE ranked 14th in ‘Kearney’s global retail rankings


December 15, 2021 | By Justina Eitzinger

The global index of retail development issued by Kearney, a management consultancy, revealed that the UAE is ranked 14th globally, confirming the resilience of the retail sector in the country as a result of government reforms and the speed in adopting digitization.

The study ranks 35 emerging countries according to a combination of 26 factors and four key variables to identify growing, attractive, and relatively risk-free markets. The index focuses on macro trends and highlights the most important new developments in the market, rather than providing detailed market share information that may be unimportant.

Technology and experiential marketing are driving the growth of the retail sector in the UAE, as retailers are adopting technologies such as artificial intelligence, the Internet of Things and virtual reality to provide a multi-channel and more holistic experience. Credit card payments have also outperformed cash payments, and retailers have accelerated the adoption of digital payment technologies, including mobile wallets and smartphone payment applications such as those adopted by Emirates NBD and the “mePay” application, which contributed to enhancing the performance of the sector further.

In addition, the UAE leads the MENA region in terms of household spending on e-commerce, with the average household spending in the country ($2,554), which is double the global average spending ($1,156) and four times the average spending in the Middle East region. and North Africa ($629).

“The ease of doing business in the country is encouraged by the continued support that small and emerging companies receive, along with carefully designed incentives To attract foreign direct investment and stimulate innovation in the sector. We have also seen major global retailers and brands enter or expand their presence over the past decade, along with high levels of consumer spending. The UAE economy stands in the ranks of advanced economies after the recent celebration of the golden jubilee of the establishment of the union, as it adopted policies that accelerated the maturity of the retail market.”

Comments

comments

Previous Article Next Article

SHARE

YOU MAY ALSO LIKE /


A new branch of Waitrose comes up in Abu Dhabi’s Khalifa City

British grocer Waitrose has opened its newest store in Abu Dhabi’s Khalifa 

Continue Reading

January 25, 2023 | By RetailME Bureau
Its Netherlands Food Week at Al Maya Supermarkets

UAE-based Al Maya Supermarkets has kicked off its ‘Netherlands Food Week’ that 

Continue Reading

January 20, 2023 | By RetailME Bureau
Tesco announces price lock to support consumers amid inflation (PC: Andrew Parsons / Parsons Media)

British grocery retail chain Tesco has announced a price lock on over 

Continue Reading

January 13, 2023 | By RetailME Bureau
Union Coop renews ISO certification

Dubai-based grocery retailer Union Coop has successfully obtained the ISO 22301, an 

Continue Reading

January 12, 2023 | By RetailME Bureau
Spanish supermarket chain Mercadona announces salary increase amid inflation (PC: Mercadona)

Spanish omnichannel supermarket chain Mercadona has announced salary increase amid inflation that 

Continue Reading

January 3, 2023 | By RetailME Bureau
Choithrams partners with Rove Hotels to open 8 new outlets

Grocery retail chain Choithrams will open eight convenience stores across Rove Hotels’ 

Continue Reading

December 30, 2022 | By RetailME Bureau
Géant to open more than 20 stores in the UAE in 2023

Part of regional retail conglomerate GMG, Géant plans to open more than 

Continue Reading

December 23, 2022 | By RetailME Bureau
FMCG online sales growing by 68% in UAE and 58% in KSA

Online share in FMCG sales has been growing all over the world, 

Continue Reading

December 19, 2022 | By RetailME Bureau
Majid Al Futtaim Retail, Standard Chartered launch region’s first Sustainable Supply Chain Finance Programme

Majid Al Futtaim Retail, operator of the Carrefour franchise in the Middle 

Continue Reading

December 15, 2022 | By RetailME Bureau
GMG and Silal partner to support 1,100 UAE farms access local retail market

UAE-based diversified conglomerate GMG and Silal have signed a memorandum of understanding 

Continue Reading

December 12, 2022 | By RetailME Bureau
Lulu Group partners with Amazon expanding grocery offerings to online customers in the UAE

Abu Dhabi based grocery retail chain Lulu Group has partnered with Amazon 

Continue Reading

November 24, 2022 | By RetailME Bureau
Food Tech Valley partners with Tradeling to boost UAE’s food ecosystem

UAE-government-led initiative Food Tech Valley – announced in 2021 by His Highness 

Continue Reading

November 17, 2022 | By RetailME Bureau




f
Download Images RetailME Magazine