UAE: Annual retail sales increased 5% to beat an all-time high of Dh240.5 billion in 2013, to propel the vivid local marketplace to the 4th place on a global developing market index.
A thriving construction and infrastructure sector, strong economic growth and growing young population, together with increasing consumer confidence and improved spending helped the retail sector to obtain its uppermost position ever on the extensively appreciated A.T. Kearney Global Retail Development Index, or GRDI.
With various landmark worldwide and local affairs, as well as the Expo 2020 under way, the UAE has numerous mega development projects in the pipeline. UAE is prepared as well for an aggressive development in tourism and a sustained surge in each person consumer spending, key factors expected to give a big improvement to the retail division.
The GCC retail division remains to be considered along with the leading markets internationally. The UAE has an increasing need for further complex systems to provide to changing consumer needs. With several major global brands establishing outlets in the UAE and others expanding their company, the UAE retail market is already on a roll.
Local retailers are also becoming significant players in prevailing markets by using their closeness as a competitive advantage to secure a share of neighboring markets.