IMARC Group, a leading market research company, has recently releases report titled “Saudi Arabia Retail Market Report by Product (Food and Beverages, Personal and Household Care, Apparel, Footwear and Accessories, Furniture, Toys and Hobby, Electronic and Household Appliances, and Others), Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Specialty Stores, Online Stores, and Others), and Region 2024-2032”. The study provides a detailed analysis of the industry, including the Saudi Arabia retail market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Saudi Arabia Retail Market?
Saudi Arabia retail market size is projected to exhibit a growth rate (CAGR) of 4.40% during 2024-2032.
| Report Attribute | Key Statistics |
|---|---|
| Base Year | 2023 |
| Forecast Years | 2024-2032 |
| Historical Years | 2018-2023 |
| Market Growth Rate (2024-2032) | 4.40% |
Saudi Arabia Retail Market Trends and Drivers:
The Saudi Arabia retail market is evolving rapidly, owing to changing consumer behaviors and several initiatives by government bodies. Additionally, with significant investments intended to promote the retail sector through infrastructure developments and the liberalization of trade rules, the government's Vision 2030 has been a key driver in diversifying the economy away from oil dependency. This strategic focus is intended to enhance the consumer retail experience and increase employment opportunities in the Saudi Arabia retail market. Furthermore, the introduction of e-commerce regulations has fostered a highly secure online shopping environment, encouraging a surge in digital transactions. Additionally, the COVID-19 pandemic accelerated the shift toward online shopping, a trend that continues to grow as consumers seek convenience and safety.
The rising impact of international brands and the increase in disposable money among the public are driving the Saudi Arabia retail market. International retailers are entering the Saudi market, attracted by the large, young, and brand-conscious population. Moreover, the rise in tourism, bolstered by relaxed visa policies and significant cultural events, is another catalyst, introducing a diverse array of shopping experiences ranging from luxury to fast fashion. In addition, retail formats are evolving, with a push towards large mixed-use developments that combine shopping with entertainment and leisure activities, mirroring global trends and catering to the preferences of a younger demographic. These factors are expected to drive the growth of the Saudi Arabia retail market in the coming years.
Request for a PDF sample of this report: https://www.imarcgroup.com/saudi-arabia-retail-market/requestsample
Saudi Arabia Retail Market Report Segmentation:
The report is organized into distinct sections as follows:
Product Insights:
- Food and Beverages
- Personal and Household Care
- Apparel, Footwear and Accessories
- Furniture, Toys and Hobby
- Electronic and Household Appliances
- Others
Distribution Channel Insights:
- Supermarkets and Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Stores
- Others
Regional Insights:
- Northern and Central Region
- Western Region
- Eastern Region
- Southern Region
Ask Analyst for Customization and Explore full report with TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=20714&flag=C
Other Key Points Covered in the Report:
- COVID-19 Impact
- Porters Five Forces Analysis
- Value Chain Analysis
- Strategic Recommendations
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163
Comments
0 comment