Retail
From The Report: Kuwait 2014
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As one of the world’s most affluent societies, Kuwait is home to a growing and diversifying retail sector. With strong economic fundamentals and a steady increase in consumer purchasing power, retail in Kuwait is on a sure foundation. On the back of this, mall space is set to expand, as is the food and beverages segment, driven by the prosperous and young generation that is boosting spending and doing more shopping online.

Articles from this Chapter

Overview

A solid economy and growing population bode well for future growth
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As one of the world’s most affluent societies, Kuwait is home to a growing and diversifying retail sector. With strong economic fundamentals and a steady increase in consumer purchasing power, retail in Kuwait is on a sure foundation. Sector Statistics In 2012, the most recent year for which figures are available, GDP per capita in Kuwait at current prices was estimated at KD13,413 ($47,161), compared to KD12,203 ($42,906) in 2011, according to provisional figures from the Central Statistical…

Analysis

The sector is expected to see an expansion of retail space
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The growth witnessed across Kuwait’s retail sector in recent years looks set to continue as additional outlets open their doors in newly available retail spaces. High-end malls offering luxury brands, in particular, are proving popular with Kuwaitis, who rank among the GCC’s most affluent consumers. Analysts expect 2014 to be another strong year for Kuwait’s retail sector, with key international brands looking to boost their presence. New shopping centres, including The Gate Mall, are preparing…

Analysis

Consumers are keeping an eye on value
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The retail market in Kuwait is characterised by a fairly large luxury segment, as well as a large mid-market segment. This reflects the country’s high GDP per capita and young population. In general, Kuwaitis tend to occupy well-paid positions in the public sector, while much of the work in the private sector is undertaken by expatriate workers, of whom the majority come from Asia, with significant populations from Western countries and fellow Arab states. However, the luxury segment appears largely…