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


December 15, 2021 | By 123

Dubai announces ‘3-Day Super Sale’ from May 18-20

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.”

Previous Article Next Article

SHARE

YOU MAY ALSO LIKE /


Rajiv Warrier, Chief Executive Officer, Choithrams

Since the launch of its first store in the UAE five decades 

Continue Reading

March 20, 2024 | By RetailME Bureau
Dr. Dhananjay Datar Chairman & Managing Director ADIL Trading Co. LLC

Dr. Dhananjay Datar Chairman & Managing Director ADIL Trading Co. LLC holds 

Continue Reading

February 29, 2024 | By Rupkatha B
Hani Weiss, Chief Executive Officer, Majid Al Futtaim Retail

In 1995 regional retail conglomerate Majid Al Futtaim introduced Carrefour to the 

Continue Reading

February 26, 2024 | By RetailME Bureau
Prashant Parameswaran, Managing Director and Chief Executive Officer of Tata Consumer Soulfull

Tata Soulfull, a leading name in the ‘good-for-you’ snacks and breakfast cereals 

Continue Reading

February 22, 2024 | By Rupkatha B
Jean-Luc Graziato, Chief Commercial Officer of Majid Al Futtaim – Retail and Alia Al Harmoodi, Acting CEO of the Environment, Health and Safety Agency

Majid Al Futtaim – Retail, which holds the exclusive franchise to operate 

Continue Reading

February 20, 2024 | By RetailME Bureau
Krishna Dhanak, Managing Director, Alpen Capital

In an exclusive interview Krishna Dhanak, Managing Director, Alpen Capital shared insights 

Continue Reading

February 19, 2024 | By Rupkatha B
Majed M. Al-Tahan, Co-founder & Managing Director, Danube Online

As digital transformation across the retail industry continues to accelerate, the expectations 

Continue Reading

December 19, 2023 | By RetailME Bureau
Frederic Levy-Perrault, CEO, Al Raya Supermarket

Saudi Arabia-based grocery retail chain Al Raya Supermarket serves over 100,000 customers 

Continue Reading

December 15, 2023 | By RetailME Bureau
Ahmad AR. BinDawood, Chief Executive Officer, BinDawood Holding

BinDawood Holding has a rich Saudi heritage, spanning over 50 years, 38 

Continue Reading

December 13, 2023 | By RetailME Bureau
Majid Al Futtaim Retail commits to Collaborative Impact Goals at COP28

Majid Al Futtaim Retail, which owns the exclusive rights to operate Carrefour 

Continue Reading

December 8, 2023 | By Rupkatha B
BinDawood Holding Company earns Honorary Shield for Compliance Excellence

BinDawood Holding Company has earned an Honorary Shield, a distinguished recognition by 

Continue Reading

December 6, 2023 | By RetailME Bureau
First Movers Coalition for Food to create up to $20-bn value chain for sustainable farming

The World Economic Forum, with support from the Government of the United 

Continue Reading

December 5, 2023 | By RetailME Bureau




Download Images RetailME Magazine