The UAE was ranked first in the Middle East and eighth internationally as the most alluring market for retailers, because of a robust economic environment and infrastructure.
Retailers in the UAE encounter some of the finest conditions globally in which to operate in, gaining from a robust quality of infrastructure and a robust economic environment.
The retail market in UAE is vibrant and has a promising outlook as major retail groups are expanding their footprints across the emirates. The retail industry is giving approximately one third to the nation’s gross domestic product (GDP) and is approximated to include another 5-6% in next five-year period. The industry was anticipated to be worth Dh120.8 billion in 2014, of which Dh70.6 billion was used on non-grocery items and Dh50.3 billion on groceries.
A recent report what was conducted stated that Dubai ranked as the second most important worldwide shopping destination internationally for the fourth consecutive year, nearly behind London, which also maintained its number one position.
Based on statistics and reports, much of the UAE retail is urged by the tourist activity that further developed in 2014, and a high calibre infrastructure in the country. The considered place and physical existence of a shop will persist to assist thriving retailers in the UAE make the greatest exercise of their shop selections and brand marketing to fascinate patrons.
Meanwhile, the excellence of transportation including roads and Metro is a main feature giving to a retailer’s accomplishment as the increasing youth population and multiplied number of expats, visitors and tourists make the choice to shop based on their convenience from straight Metro connects to shopping malls.
In the UAE, a vigorous performance is estimated and customer assurance will be enhanced because economic constancy which will, in sequence, lead to more expenditure, higher services and escalated numbers of expats, visitors and tourists. Moreover, in environments like these, retailers are getting improvements in pervasiveness of foreign rights, logistics performance and trade freedom across the UAE market, generating a more steady base for operations.
If a business is going to run efficiently, successfully and possibly flourish, it is essential that retailers accomplish their homework. They have to deem facts and insight on their potential markets and regard as the changing issues that can influence portfolio achievement. For example, a market that is anticipated to distinguish resilient economic progress and is rising up on infrastructure investment has prospective to boost its complete rankings in the coming years.
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