Trends and predictions for the GCC retail market in a post-COVID-19 world – Saudi Gazette

Trends and predictions for the GCC retail market in a post-COVID-19 world – Saudi Gazette

DUBAI “” CBRE and Roland Berger have published a co-written report "Trends in the GCC Retail Market". The report looks at the retail industry today in the GCC region and provides an outlook on its likely development in a post-COVID-19 world.

The global economy is experiencing an unprecedented impact amid the outbreak of COVID-19: dramatic changes in consumer behavior and a widespread spending freeze require various industries to operate in crisis management mode as result of significant loses.

Due to its interconnected nature, the retail industry is particularly vulnerable to the effects of this pandemic and leaves retailers uncertain on how to respond to the current state of the retail market, as well as about their future in a post-COVID-19 world.

The GCC Retail Market report takes a longer-term view and outlines the trends impacting the retail industry in the GCC, driven by technology, changing consumer demands and evolving operating models.

Gabriella De La Torre, director consulting at CBRE, commented, "Retailers with a successful online presence have been able to minimize the impact, and in some cases even managed to drive profits as a result of stronger online consumption. Our report takes a long-term view on the opportunities in the retail industry in a