Retail
From The Report: Qatar 2024
View in Online Reader

Qatar is looking to diversify its economy away from oil and gas, and develop new income streams – particularly in the service sector. The 2022 FIFA World Cup demonstrated the country’s advancements in infrastructure and its ability to organise global events. At the same time, the tournament catalysed growth in the retail sector by boosting tourism and consumer spending. The sector is expected to maintain its positive momentum, aided by moderating inflation, low unemployment and the high purchasing power of the population. Although expansion in the tourism sector also has a positive impact on consumer spending, the retail sector enjoys solid foundations for growth among domestic consumers.

This chapter contains an interview with Shane Eldstrom, CEO of United Developers.

Articles from this Chapter

Overview

Steady growth: Long-term development initiatives, e-commerce and citizens’ significant disposable income drive economic expansion
OBG
plus

Through Qatar National Vision 2030, Qatar has looked to diversify its economy away from oil and gas and develop new income streams, particularly in the service sector. This diversification effort culminated in the hosting of the 2022 FIFA World Cup, which demonstrated Qatar’s advancements in infrastructure and its ability to organise global events. At the same time, it catalysed growth in the retail sector by boosting tourism and consumer spending. In the wake of the global sporting event, Qatar’s…

Interview

Top of class: Shane Eldstrom, CEO, United Developers, on how luxury retailers are meeting demand and promoting sustainability
OBG
plus

Interview:Shane Eldstrom To what extent are consumer trends fuelling growth in Qatar’s luxury retail market? SHANE ELDSTROM: Growth in the luxury retail market is reflecting the desire for personalised experiences and sustainable, high-quality products. Qatar’s evolving demographics, characterised by a young and affluent population and a large expatriate community, provide an ideal environment for growth. The introduction of new offerings at Place Vendôme Mall has helped to address existing…

Analysis

Long-term appeal: Increased competition among buy now/pay later providers with greater penetration in emerging markets
OBG
plus

Building on the momentum seen in the e-commerce space during the Covid-19 pandemic, the buy now/ pay later (BNPL) model is one of the fastest-growing segments in consumer finance, particularly in emerging markets. BNPL providers offer point-of-sale loans that consumers can repay in instalments over the course of weeks or even months. Charging little to no interest, these microcredit providers make profit via transaction fees paid by the retailer, offering increased sales and customer conversion in…