Kuwait Retail Report Q2 2016
BMI View: Kuwait's economy has been forced to shift its focus dramatically, following the recent drop inoil prices. While the country has a robust financial foundation, the economy is not diversified and this willminimise the possibility of sizable income gains in Kuwait households. The non-essential purchases will beimpacted the hardest, with many Kuwaiti's shifting a large part of their budget to the housing sub-sectorthroughout our forecast period.
Key Updates and Forecasts
We expect household consumption to continue to climb, thanks to increasing affluence and wages.
The share of households in the USD50,000 plus income bracket will continue to expand, reaching 16.4%in 2016.
Kuwait's population will grow rapidly by 2.1% annually throughout the forecast period, due to growingimmigration of both skilled and unskilled labour.
Housing & utilities will be the largest sub-sector of household spending, accounting for approximately29.3% of the total in 2016, due to rising rental prices and increased spending on houses and apartments.
We expect total household spending growth to pick up notably over our forecast period and average 4.4%per annum between 2016 and 2020. Increasing household incomes bodes well for the retail sector on thewhole however non-essentials spending will post much slower growth than that of essential spending.
- BMI Industry View
- SWOT
- Industry Forecast
- Headline Retail Forecast
- Table: Total Household Spending (Kuwait 2013-2020)
- Table: Retail Sector Spending, % Of Total (Kuwait 2013-2020)
- Table: Headline Retail Sector Spending (Kuwait 2013-2020)
- Table: Retail Sector Spending, % of GDP (Kuwait 2013-2020)
- Retail Sector Forecast
- Food, Drink & Tobacco
- Table: Food, Drink & Tobacco Spending (Kuwait 2013-2020)
- Clothing & Footwear
- Table: Clothing & Footwear Spending (Kuwait 2013-2020)
- Household Goods
- Table: Household Goods Spending (Kuwait 2013-2020)
- Personal Care
- Table: Personal Care Spending (Kuwait 2013-2020)
- Household Numbers And Income Forecast
- Table: Household Income Data (Kuwait 2013-2020)
- Demographic Forecast
- Table: Total Population (Kuwait 2013-2020)
- Table: Population: Babies (Kuwait 2013-2020)
- Table: Population: Young Children (Kuwait 2013-2020)
- Table: Population: Children (Kuwait 2013-2020)
- Table: Population: Young Teens and Older Children (Kuwait 2013-2020)
- Table: Population: Young People (Kuwait 2013-2020)
- Table: Population: Older Teenagers (Kuwait 2013-2020)
- Table: Population: 21yrs + (Kuwait 2013-2020)
- Table: Population: Young Adults (Kuwait 2013-2020)
- Table: Population: Middle Aged (Kuwait 2013-2020)
- Table: Population: Urban (Kuwait 2013-2020)
- Industry Risk Reward Indexes
- Middle East And North Africa Risk/Reward Index
- Table: Middle East And North Africa Retail Risk/Reward Index, Q216
- Kuwait Industry Risk/Reward Index
- Rewards
- Risks
- Market Overview
- Competitive Landscape
- Clothing & Footwear
- Table: Selected Clothing & Footwear Retailers
- Household Goods
- Table: Selected Household Goods Retailers
- Electronics
- Table: Selected Electronics Retailers
- Department Stores
- Table: Selected Department Stores
- E-commerce
- Table: Selected E-Commerce Retailers
- Pharmacies
- Table: Selected Pharmacies
- Glossary
- Methodology
- Industry Forecast Methodology
- Sources
- Risk/Reward Index Methodology
- Table: Retail Risk/Reward Index Indicators
- Table: Weighting Of Indicators