Retail US ‘Black Friday’ online sales hit record $9bn despite high inflation US shoppers spent a record $9.12 billion online this Black Friday, a report showed on Saturday, as consumers weathered the squeeze from high inflation and grabbed steep discounts on everything from smartphones to toys. Online spending rose 2.3 percent on Black Friday, Adobe Inc’s data and insights arm Adobe Analytics said, thanks to consumers holding […] November 27, 2022
Opinion Retail The Middle East has a bright e-commerce future Digital tech firms in the Gulf are making tremendous advances in how they use the latest technologies to build the foundations for future success November 25, 2022
Exclusive Retail Amazon tips Saudi Arabia to deliver sales growth Amazon sees “exciting potential” in Saudi Arabia and the Middle East, one of its executives has said, as the e-commerce giant commits to further investment in local facilities and talent. Ronaldo Mouchawar, vice president of Amazon Middle East and North Africa, which opened its new office in Riyadh last month, told AGBI that the company […] November 22, 2022
Food & Drink Branded coffee shops expand across the Middle East The Middle East and North Africa’s (Mena) branded coffee shops market has grown 10.5 percent to 8,874 outlets in the past year. Saudi Arabia, which named 2022 the year of Saudi coffee, is the largest market in the region, growing 18.5 percent to reach 3,556 outlets and accounting for 40 percent of all stores in […] November 21, 2022
Retail Turkey to clamp down harder on shops charging excessive prices Turkish President Tayyip Erdogan said he will hold discussions at the next cabinet meeting on adopting heavier measures for supermarkets and stores that charge excessive prices for goods, broadcaster Haberturk reported on Monday. Annual inflation in Turkey is more than 85 percent. Speaking to reporters on his flight back from Qatar, Erdogan said previous fines […] November 21, 2022
Banking & Finance Abu Dhabi-backed fund buys into UAE’s booming pet care industry Aliph Capital, the Gulf’s first female-led private equity firm, has entered the UAE’s booming pet care industry with its first deal. The fund, which raised $125 million last month from Abu Dhabi sovereign wealth fund ADQ, has bought The Pet Shop, the largest retailer of pet food and accessories in the UAE, from Kasamar Holdings. […] November 17, 2022
Analysis Retail Gulf shop tills set to ring up $297bn of sales this year Retail sales across the GCC are likely to surpass pre-pandemic levels this year, driven by a revival of the region’s tourism industry, according to new research. Alpen Capital’s latest report on the retail sector projects year-on-year growth of 15.7 percent, to reach total revenues of $296.8 billion. The industry is expected to record a compounded […] November 16, 2022
BLACK FRIDAY Retail Dubai’s bricks-and-mortar stores hold their own against e-commerce Dubai is experiencing a retail boom — and, bucking global trends for online shopping, much of it is being led by brick-and-mortar stores catering to in-person shoppers. According to a new report by Dubai-based Commercial Real Estate Consultants (CRC), in-person retail transactions in the city this year are up by 133 percent, and transaction value […] November 11, 2022
Retail As yen tumbles, Japan turns to secondhand iPhones For years Japanese shoppers eagerly shelled out for the latest gadgets, but now a tumbling yen has put new iPhones out of reach for some and sparked a growing secondhand trade in a major market for Apple Inc. The Japanese currency’s fall to a 32-year low against the dollar has squeezed consumers and accelerated a […] November 8, 2022
Exclusive Retail Saudi and Egypt offer ideal stage for UAE’s The Entertainer The Entertainer, a Dubai-based tech company that offers thousands of lifestyle product discounts, is focusing on Saudi Arabia and Egypt for expansion as demand rises amid the current cost of living crunch. New CEO Ahmed Gaber, who was previously general manager of Visa’s operations in North Africa where he was responsible for developing the digital […] November 7, 2022
Retail KFC’s Mena franchisee to offer 30% stake in GCC dual listings Americana Restaurants, the Middle East and North Africa franchisee of fast-food restaurants KFC and Pizza Hut, said it planned to launch an initial public offering (IPO), followed by a dual listing in the United Arab Emirates and Saudi Arabia. Adeptio Investments, an investment vehicle jointly-held by Dubai businessman and founder of Emaar Properties Mohammed Alabbar […] November 2, 2022
Exclusive Retail Kuwait classified giant 4Sale aims to double up on business The oldest form of classified ads can be traced back all the way to 2000BC, when the Egyptians invented outdoor advertising as they carved public notices into steel. This earliest example of the ‘first mover advantage’ strategy is not lost on the CEO of 4Sale, Kuwait’s largest online classifieds platform, which has big ambitions to […] October 31, 2022
Opinion Retail The UAE’s soaring demand outstrips inflation woes The crucial fourth quarter will be a bumper one for UAE retailers despite inflationary pressures of oil prices October 28, 2022
Analysis Retail Lucid opens first Saudi showroom as regional EV rivalry hots up Lucid Group announced the opening of its first showroom in the Middle East, located in Riyadh, Saudi Arabia, as it looks to get ahead of rivals in the regional push for electric vehicles. The Lucid Studio in the heart of the Saudi capital’s Al Nakheel district will offer a “digitally oriented premium experience”, the company […] October 24, 2022
Opinion Retail The biggest trends in e-commerce for 2023 and beyond The pandemic prompted a sea change in the Middle East's attitude to shopping online, with e-commerce sales in the region set to hit $48.6bn this year. Here's what's coming next October 20, 2022
Retail Winter World Cup may be nightmare for British stores The winter World Cup has added a new level of uncertainty to the Christmas trading outlook of Britain’s supermarkets: How do you persuade cash-strapped shoppers to buy yule logs and luxury biscuits at the same time as beer and pizza? Running between November 20 and December 18, the soccer tournament in Qatar falls directly in […] October 20, 2022
Retail Lulu Group targets Iraq and Africa ahead of Abu Dhabi IPO Lulu Group International is planning a listing on the Abu Dhabi Securities Exchange in 2023 and has hired investment bank Moelis & Co to advise it. The supermarket chain, which has its headquarters in Abu Dhabi, also confirmed to AGBI that it will add new outlets to its network as it consolidates in the Middle […] October 14, 2022
Retail Amazon among brands using DIFC Courts to resolve disputes E-commerce giant Amazon is one of a growing number of major companies citing the DIFC Courts in its sales terms and conditions as the venue to resolve disputes with customers and third party resellers. Established in 2004 as the English-language, independent, common law legal system for the Dubai International Financial Centre (DIFC) free zone, the […] October 13, 2022
Retail India’s Nykaa and Dubai’s Apparel Group forge Gulf alliance Indian cosmetics and fashion retailer Nykaa and Dubai-based lifestyle and fashion conglomerate Apparel Group have struck an alliance to expand in the Gulf region, the companies said on Thursday. With the agreement, Nykaa hopes to grow in a region where it sees high demand for beauty products, months after inflationary pressures in India led it […] October 7, 2022
Retail UAE e-commerce market forecast to reach $9.2bn by 2026 The UAE’s e-commerce market may reach $9.2 billion, and account for 12.6 percent of total retail sales by 2026, the Dubai Chamber of Commerce said in a report. Total e-commerce sales hit $4.8 billion in 2021, compared to $2.6 billion in 2019, the report stated, based on data from research firm Euromonitor. Mobile devices, such […] October 5, 2022
Retail India’s Ferns N Petals blossoms in the Middle East Indian flower and gifting company Ferns N Petals is forecasting 50 percent annual growth in the Middle East as it expands into more markets including Saudi Arabia, ahead of a potential stock market listing within three years. Established in New Delhi in 1994, Ferns N Petals is one of the largest floral retail chains in […] October 3, 2022
Retail Ben & Jerry’s says Unilever ‘covertly’ took trademarks Ben & Jerry’s says parent company Unilever Plc wrongly transferred brand names out of reach of its independent board more than 20 years ago in an updated lawsuit over its business in Israel filed on Friday in federal court. The Vermont ice cream maker says that Unilever “covertly” moved its trademarks to a Unilever business […] October 3, 2022
