BFL Group predicts steady growth in Qatar’s retail market for Q1 of 2023

BFL Group predicts steady growth in Qatar’s retail market for Q1 of 2023

BFL Group, one of the leading off-value retailers in the UAE, predicts strong growth in Qatar’s retail market for Q1 of 2023. The country's retail market has benefited greatly from steady population growth, a high concentration of expatriates and high-net-worth individuals (HNWI), and mega events like the recently concluded FIFA World Cup 2022.

BFL Group had opened two new stores in Qatar in 2022, amid developments and major events. The business has since advanced significantly due to the rise in footfall in outlets, which has positively impacted the sales. As outdoor activities have completely returned to normal in 2022, retail sales are on an upward trajectory, along with higher consumer spending. The government's assistance in easing travel restrictions, bolstering the investment landscape, and streamlining retail infrastructure also contributed to the industry's revival and boosted recovery by promoting tourism.

Toufic Kredieh, CEO and Co-Founder of BFL Group, said: “As part of our expansion plans for 2022, we have successfully opened a number of stores across the GCC, in countries like Saudi Arabia, Kuwait, Oman, and Qatar. Due to the growing retail market and the magnified economy brought on by the mega events that were taking place in the country, Qatar stood out as