Newly released market study: Kuwait Retail Report Q3 2016

Kuwait's oil-dependent economy is facing a notable slowdown, following a recent drop in global oil prices. This is negatively affecting business and consumer confidence levels, forcing households to re-allocate their spending priorities on essential goods and services. We believe that e levated inflation, triggered by removal of fuel subsidies and persisting housing shortages, will continue weighing on consumer spending power over the coming quarters.

Key Updates and Forecasts

Total household spending in the retail sector is expected to average 4.0% per annum during 2016-2020. Except for housing and utilities sub-sector, all other spending categories will see their shares declining in terms of overall household expenditures over the next five years.

Full Report Details at
- http://www.fastmr.com/prod/1191643_kuwait_retail_report_q3_2016.aspx?afid=301

Household expenditures will shift towards essential goods and services, with spending on housing and utilities leading the way. Despite relative affluence of the Kuwaiti population, we believe that essentials will account for nearly three quarters of total household spending by the end of 2020.

The share of households earning above USD10,000 will remain at around 80% across our forecast period to 2020.

In early 2016, US-based department stores retailer Macy's revealed that it will open a 93,000 square feet Bloomingdales outlet at Kuwait's 360 Mall in spring 2017. The company has signed a strategic partnership agreement with the UAE-based Al Tayer Group.

In March 2016, Paris-based luxury fashion retailer Karl Lagerfeld opened its first 75 square metre concept store at Avenues Mall in Kuwait.

The Kuwait Retail Report has been researched at source and features BMI Research's independent assessment and forecasts for the retail sector. The report examines key drivers of retail sales growth and future prospects, including consumer spending and private sector investment.

BMI's Kuwait Retail Report also examines the level of development and potential for growth of the retail sector, the commercial initiatives of major players, changing consumer demographics that influence demand and the regulatory environment. Key sub-sectors include mass grocery retail, autos, over-the-counter pharmaceuticals, computers and consumer electronics.

Key Benefits
Benchmark BMI's independent retail industry forecasts for Kuwait to test other views - a key input for successful budgeting and strategic business planning in the Kuwaiti retail market.
Target business opportunities and risks in Kuwait through our reviews of latest industry trends, regulatory changes and major deals, projects and investments.

Coverage

BMI Industry View

Summary of BMI’s key forecasts and industry analysis, plus a discussion of major industry developments and a snapshot of key short-term demand-driving macroeconomic movements.

Industry SWOT Analysis

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