Noida, India (PressExposure) July 10, 2011 -- According to our research report "Middle East Retail Sector Forecast to 2013" ,the Middle East retail sector has been recording unprecedented growth for the past few years that makes the region one of the fastest growing retail environments in the world. The Middle East retail market is benefited by the high oil prices and increasing retail space in the region, thus it is expected that, the retail sales will also flourish in coming years. More retail space will contribute to more supply of products; thereby affecting the demand of consumers.
Ongoing research found that, Egypt is counted among the region's fastest growing and most modern markets. Factors, such as increasing youthful population, emergence of a more affluent middle class, active tourism industry, and the entry of more female population to the workforce will drive the retail market in Egypt to grow at a CAGR of around 12% to reach US$ 115 Billion by 2013 end.
Besides Egypt, other countries, such as Saudi Arabia, Turkey, the UAE, Israel etc have registered excellent market expansion on the back of changing consumer demographics, presence of large expatriate population, and improving purchasing power.
Our report outlines that, the Middle East retail sector is experiencing major developments in the field of organized retailing. Organized retailers, large retail formats, and discounters are increasing their market share at the expense of small autonomous retailers and family businesses. The main reason for the organized retailing in the Middle East is high summer temperatures, which enables people to approach air conditioned malls as social hubs for shopping and also for meeting people.
"Middle East Retail Sector Forecast to 2013" provides extensive research and in-depth analysis of the Middle East retail sector. The report analyzes macroeconomic factors critical to the retail sector along with their impact on the sector. The report also identifies key players in each country and includes their detail business description. Additionally, the report sheds light on the emerging industry trends, which are expected to decide the future of the region's retail sector.
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