
Kuwait Retail Market, By Product (Food & Beverages and Tobacco Products; Personal & Household Care; Apparel, Footwear, and Accessories; Furniture, Toys, and Hobby; Industrial & Automotive; Electronic & Household Appliances; Pharmaceuticals, Luxury Goods,
Description
Kuwait Retail Market, By Product (Food & Beverages and Tobacco Products; Personal & Household Care; Apparel, Footwear, and Accessories; Furniture, Toys, and Hobby; Industrial & Automotive; Electronic & Household Appliances; Pharmaceuticals, Luxury Goods, and Other Products); By Distribution Channel (Store-based, Direct Selling, E-commerce), Trend Analysis, Competitive Landscape & Forecast, 2019–2029
Kuwait Retail Market Size Booming to Cross USD 208.6 Billion by 2029
Kuwait retail market is flourishing because of the growing population and urbanization and new store openings and acquisitions.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Kuwait retail market size at USD 139.2 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the Kuwait retail market size to grow at a CAGR of 5.9% reaching a value of USD 208.62 billion by 2029. Major growth drivers for the Kuwait retail market include increasing purchasing capacity fueled by strategic infrastructural projects, a growing retail landscape, and a rising trading and oil sector. The retail domain in Kuwait has witnessed remarkable growth due to the proliferation of modern shopping centers. The economy's resurgence, along with enhanced consumer buying power, affluent middle-class households, and convenient accessibility, have been instrumental in fostering the country's retail sector. Notably, about 45% of Kuwait's population falls within the 20 to 39 age category, a demographic segment that exhibits a keen preference for retail expenditures within malls and a penchant for international brand acquisitions. Also, Kuwait boasts an increasing internet penetration rate of 98% as of 2017, contributing significantly to the rapid expansion of the e-commerce sector, as both locals and expatriates increasingly engage in online shopping. However, increasing competition and costs of advanced technologies are anticipated to restrain the overall market growth during the period in analysis.
Kuwait Retail Market – Overview
Kuwait Retail Market refers to the economic sector encompassing the buying and selling of goods and services to end consumers within the country of Kuwait. This market involves various activities such as operating retail stores, shopping malls, e-commerce platforms, and other retail-related establishments. It is characterized by the exchange of products between retailers and consumers, driven by factors such as consumer preferences, purchasing power, economic trends, and demographic influences. The Kuwait retail market plays a vital role in the nation's economy, contributing to employment, revenue generation, and overall economic growth.
Impact of COVID-19 on Kuwait Retail Market
COVID-19 pandemic adversely affected the Kuwait retail market. Lockdowns, restrictions, and reduced consumer confidence led to a decline in foot traffic and sales. Physical store closures forced retailers to pivot towards e-commerce and digital strategies. The government's measures to curb the virus affected supply chains, causing product shortages and import delays. Despite challenges, the crisis accelerated the adoption of online shopping, leading to a digital transformation in the retail sector. As the pandemic waned, consumer behavior shifted, demanding safer shopping experiences. Overall, COVID-19 acted as a catalyst for change, reshaping Kuwait's retail landscape and prompting businesses to adapt to new realities.
Kuwait Retail Market – By Distribution Channel
Based on distribution channel, the Kuwait retail market is divided into Store-based, Direct Selling, and E-commerce segments. The e-commerce segment is expected to witness the fastest growth rate in the Kuwait retail market by distribution channel during the forecast period. The expanding landscape of e-commerce distribution channels in Kuwait is attracting new participants to the market. Retail enterprises in Kuwait are strategically enhancing economies of scale, operational efficiency, and revenue diversification by capitalizing on e-commerce avenues. The evolution of sophisticated online platforms has rendered online shopping remarkably convenient, complemented by enticing deals. The substantial smartphone penetration rate in the country significantly contributes to Kuwait's e-commerce surge, facilitated by advanced mobile networks provided by local operators, positioning Kuwait among the forefront of Middle Eastern digital connectivity.
Competitive Landscape
Major players operating in the Kuwait retail market include The Sultan Center, Morad Yousuf Behbehani Group, Alshaya Group, Abdul Aziz S. AL-Babtain & Sons Co, Gulf Franchising Company, Future Communication Company Global, Villa Moda, Musaed Bader Al Sayer Group, YIACO Medical Company, and SAFWAN's Pharma. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Kuwait Retail Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Kuwait Retail Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
200 Pages
- 1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
- 2. Executive Summary
- 3. Kuwait Retail Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Growing population and urbanization
- 3.2.1.2. New store openings and acquisitions
- 3.2.2. Restraints
- 3.2.2.1. Increasing competition
- 3.2.2.2. Costs of advanced technologies
- 3.2.3. Opportunities
- 3.2.3.1. E-commerce expansion
- 3.2.3.2. Market segment diversification
- 3.2.4. Challenges
- 3.2.4.1. Cost management
- 3.2.4.2. Consumer trends and preferences
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter’s Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
- 4. Kuwait Retail Market Overview
- 4.1. Market Size & Forecast, 2019–2029
- 4.1.1. By Value (USD Billion)
- 4.2. Market Share and Forecast
- 4.2.1. By Product
- 4.2.1.1. Food & Beverages and Tobacco Products
- 4.2.1.2. Personal & Household Care
- 4.2.1.3. Apparel, Footwear, and Accessories
- 4.2.1.4. Furniture, Toys, and Hobby
- 4.2.1.5. Industrial & Automotive
- 4.2.1.6. Electronic & Household Appliances
- 4.2.1.7. Pharmaceuticals, Luxury Goods, and Other Products
- 4.2.2. By Distribution Channel
- 4.2.2.1. Store-based
- 4.2.2.1.1. Hypermarkets and Supermarkets
- 4.2.2.1.2. Department Stores
- 4.2.2.2. Direct Selling
- 4.2.2.3. E-commerce
- 4.2.2.4. Others
- 5. Competitive Landscape
- 5.1. List of Key Players and Their Offerings
- 5.2. Kuwait Retail Market Share Analysis, 2022
- 5.3. Competitive Benchmarking, By Operating Parameters
- 5.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
- 6. Impact of Covid-19 on Kuwait Retail Market
- 7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
- 7.1. The Sultan Center
- 7.2. Morad Yousuf Behbehani Group
- 7.3. Alshaya Group
- 7.4. Abdul Aziz S. AL-Babtain & Sons Co
- 7.5. Gulf Franchsing Company
- 7.6. Future Communication Company Global
- 7.7. Villa Moda
- 7.8. Musaed Bader Al Sayer Group
- 7.9. YIACO Medical Company
- 7.10. SAFWAN's Pharma
- 7.11. Other Prominent Players
- 8. Key Strategic Recommendations
- 9. Research Methodology
- 9.1. Qualitative Research
- 9.1.1. Primary & Secondary Research
- 9.2. Quantitative Research
- 9.3. Market Breakdown & Data Triangulation
- 9.3.1. Secondary Research
- 9.3.2. Primary Research
- 9.4. Breakdown of Primary Research Respondents, By Region
- 9.5. Assumptions & Limitations
- *Financial information of non-listed companies can be provided as per availability.
- **The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable
- List of Figures
- Figure 1 Kuwait Retail Segmentation
- Figure 2 Kuwait Retail Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2022
- Figure 4 Kuwait Retail Market Size, By Value (USD Billion), 2019–2029
- Figure 5 Kuwait Retail Market Share, By Product, By Value, 2019–2029
- Figure 6 Kuwait Retail Market Share, By Distribution Channel, By Value, 2019–2029
- Tables
- Table 1 Kuwait Retail Market Size, By Value (USD Billion), 2019–2029
- Table 2 Kuwait Retail Market Share, By Product, By Value, 2019–2029
- Table 3 Kuwait Retail Market Share, By Distribution Channel, By Value, 2019–2029
- Table 4 The Sultan Center Company Overview
- Table 5 The Sultan Center Financial Overview
- Table 6 Morad Yousuf Behbehani Group Company Overview
- Table 7 Morad Yousuf Behbehani Group Financial Overview
- Table 8 Alshaya Group Company Overview
- Table 9 Alshaya Group Financial Overview
- Table 10 Abdul Aziz S. AL-Babtain & Sons Co Company Overview
- Table 11 Abdul Aziz S. AL-Babtain & Sons Co Financial Overview
- Table 12 Gulf Franchsing Company Overview
- Table 13 Gulf Franchsing Company Financial Overview
- Table 14 Future Communication Company Global Company Overview
- Table 15 Future Communication Company Global Financial Overview
- Table 16 Villa Moda Company Overview
- Table 17 Villa Moda Financial Overview
- Table 18 Musaed Bader Al Sayer Group Company Overview
- Table 19 Musaed Bader Al Sayer Group Financial Overview
- Table 20 YIACO Medical Company Overview
- Table 21 YIACO Medical Company Financial Overview
- Table 22 SAFWAN's Pharma Company Overview
- Table 23 SAFWAN's Pharma Financial Overview
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