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Recent Report Places Qatar Within The Top 5

Recent Report Places Qatar Within The Top 5

Qatar is rated fourth among the list of top five in the world and also the top within the GCC countries in the Global Retail Development Index (GRDI), according to a study recently released by AT Kearney.

Shamail Siddiqi, principal (Consumer and Retail Practice) AT Kearney Middle East, said, "Regardless of the record decrease in oil prices, retail sales growth is predicted to carry on its momentum. Indeed, the shopping space pipeline remains strong, with a number of major initiatives in progress in Qatar and also the UAE and Oman. Several suppliers view Qatar as the natural next step for increasing their regional presence. The country’s spectacular GDP per capita, together with the dedicated infrastructure initiatives, has made it a market suppliers can't afford to ignore."

Increasing Qatar’s global place is its predicted advancement in the retail space, which should reach a million square meters within the next three years. The spread of malls in the nation, combined with the Doha Shopping Festival, will also improve the shopping landscape. It's likely a number of retail outlets make their way into the nation, which will cover anything from luxury goods to hypermarkets. The luxury goods already have a firmly set up position in the market through companies like the Qatar Luxury Group and Wissam Al Mana's Al Mana Group.

Noticing its introduction into the index, Qatar’s retail marketplace is likely to expand following growing infrastructure initiatives and population. Overall, Qatar observed total retail income reach up to $12.4bn with a 9.7% annual growth over the past four years.

The 2015 GRDI includes a fantastic showcase on the prospects for luxurious goods in new markets.
The list looks at 25 retail-specific and macroeconomic parameters to help retailers create profitable international strategies to distinguish rising industry investment opportunities.

Published since 2001, the GRDI ranks the top 30 developing countries for retail industry investment worldwide.

The feature includes an analysis of the 15 top luxury brands and their presence in the GRDI’s top 30 nations. Case study exhibits growing markets fall into 3 tiers of luxury development, with various implications for brands seeking to enter or expand in these markets. Qatar presently hosts 13 of the best 15 brands, suggesting a powerful local need for high end brand names and a chance for luxurious retailers to help penetrate the marketplace.
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