Noida, India (PressExposure) September 10, 2009 -- The UAE retail industry is standing strong in tough time of global economic slowdown and showing no signs of deceleration whatsoever. The growth in the retail industry is duly supported by increasing household consumption coupled with countryâs recognition as a unique tourism destination in the world. One of the highest per head disposable income is boosting per capita retail spending in the country, which is expected to propel the retail industry to see 12.4% CAGR growth during 2009-2013, according to a new research report âBooming Retail Sector in UAEâ, by RNCOS.
We have done comprehensive research on the UAE retail industry and identified some decisive trends commanding the industry. We have found that the retail industryâs dynamism is majorly backed by ongoing construction of new mega retail stores and upgrading of existing retail points in various emirates of the country. The gross leasable area in the country surpassed 1 Sq Meter per capita in 2008 and is expected to grow to 2.44 Sq Meter per capita by 2012. Such robust growth in retail construction is amplifying consumer shopping experience and giving boost to retail spending.
Apart from infrastructure development, annual shopping events organized in different parts of the country are triggering the retail industry sales enormously. Dubai Shopping Festival (DSF) and Dubai Summer Surprises (DSS) together attracted more than 5 Million visitors and generated over US$ 5 Billion of retail revenue in 2008. âMassive spending made during these events will entail more market players to enter the market to provide response to overrunning demands in futureâ, says an Analyst at RNCOS.
âBooming Retail Sector in UAEâ, provides an exhaustive research and rational analysis of the retail market in the UAE. It will help clients to identify the market trends and evaluate leading-edge opportunities critical for the success of the retail market in the country. The study gives an overview of various factors driving the retail sector, together with the forces blocking growth of the industry. It also provides future forecast for all relevant industry segments and facilitates a better understanding of this dynamic and growing industry.
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