Lulu Group announces massive investment in retail network at the RetailME Tech and Marcom Summit

Lulu Group announces massive investment in retail network at the RetailME Tech and Marcom Summit

Dubai, UAE:

- Lulu Group announces the investment to the tune of Dh10.6 billion in four years with 91 new hypermarkets and stores in four years, from 2020 to 2023;

- The global retail sales revenue will grow from US$26 trillion in 2021 to more than US$30 trillion in 2024 – which is equivalent to a third of the global economy;

- The total e-commerce market size in the region is expected to reach US$49 billion in 2025, surging from US$31.7 billion last year;

- A report released by the Dubai Chamber of Commerce and Industry has projected the UAE’s retail sales to reach $70.5 billion (Dh259 billion) by 2025 — an annual growth of 6.6 percent.

Lulu Group International, operator of the Middle East’s largest organised retailer, announced massive investment in retail sector at the RetailME Tech & Marcoms Summit and ICONS Awards, organised by Images RetailME – the largest retail information and market intelligence platform in the Middle East – that saw 45 experts sharing their insights on the changing retail landscape in the region and the rest of the world.

Despite the headwinds and rising inflation worldwide, the retail sector is witnessing growth. The global retail sales revenue will grow from US$26 trillion