GCC Retail Industry returns to steady growth after a period of disruption, says Alpen Capital

GCC Retail Industry returns to steady growth after a period of disruption, says Alpen Capital

Dubai: Alpen Capital’s latest retail sector report for the GCC projects the industry to surpass pre-pandemic levels in 2022, registering a 15.7% year-on-year growth and reaching a revenue of US$ 296.8 billion. It adds the industry is expected to further grow with a Compounded Annual Growth Rate (CAGR) of 5.7% by 2026.

UAE-based investment banking advisory firm, Alpen Capital, launched its latest GCC Retail Industry report on Tuesday, November 15th featuring forecasts on the sector, analyzing recent trends, growth drivers and challenges facing this dynamic segment. It also profiles some of the renowned retail companies in the region.

“The GCC retail industry is poised to grow at a healthy pace due to favorable demographics, improving macroeconomic factors and revival of the tourism industry. The sector is also expected to benefit from the governments’ push towards economic diversification and a growing prominence of omni-channel business models. The industry was severely hit by the restrictions imposed during the pandemic; however, retailers were responsive to the changing demands and innovated to sail through difficult times. As the retail industry continues to recover, there is an urgent need for retailers to upscale their digital presence to stay relevant as well as compete with regional and international