Saudi Arabia Retail Report Q3 2016 - New Study Released

With little prospect of a significant upturn in oil prices, Saudi Arabia is entering a protracted period of subdued growth. As a result, business confidence remains depressed and this will impact on both sales and employment. This has prompted a further downward revision to our 2016 household expenditure growth in the retail sector from 7.8% to 6.7%.

Key Views & Developments

Saudi Arabia is entering a protracted period of subdued growth, with low oil prices negatively impacting business confidence, banking liquidity and government spending. In addition, real growth in the oil sector will decelerate, further compounding the country's economic slowdown. We are therefore forecasting real economic growth of 1.0% in 2016 and 1.5% in 2017, down from 3.4% in 2015. This year will mark the slowest growth rate for the Saudi economy since 2002.

The continued economic headwinds facing Saudi Arabia have prompted us to revise downwards our 2016 household expenditure growth forecast from 7.8% to 6.7%. This still represents a healthy level of growth, however, with the pace likely to pick up again next year.

Full Report Details at
- http://www.fastmr.com/prod/1188124_saudi_arabia_retail_report_q3.aspx?afid=301

US-based home improvement retailer Do It Best announced in May 2016 that it had reached an agreement with Saudi Arabia's Attken International (owned by Albawardi Group) to launch its first outlet within the country in the Dammam province under the Attken Do It Best banner. This will mark the start of a programme that aims to open another three Attken Do It Best stores each year.

UAE-based Landmark Group announced in March 2016 that it was planning to open another 25 Centrepoint stores across the region by the end of the year. The majority of the new stores will be located in Saudi Arabia, Oman and Kuwait. Each new store will create approximately 100 new jobs, with the bulk of the new Saudi stores opening during the summer.

The Saudi Arabia 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 Saudi Arabia 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 Saudi Arabia to test other views - a key input for successful budgeting and strategic business planning in the Saudi retail market.
Target business opportunities and risks in Saudi Arabia through our reviews of latest industry trends, regulatory changes and major deals, projects and investments.

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