Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

KSAranks high among attractive retail markets  Join our daily free Newsletter

MENAFN - Arab News - 10/12/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) Saudi Arabia has cemented its position as a major retail market in the world as it becomes one of the most attractive countries for retailers to expand into, says EC Harris in its second annual global retail study, the Retail International Programme Expansion Index.
The annual Index by the leading global built asset consultancy ranks 48 major international retail markets according to five factors that have a major impact on successful retail expansion, including quality of infrastructure, capability of the construction supply chain, legal framework, quality of project delivery and business environment.
With high end retail developments in Saudi Arabia and across the Middle East becoming increasingly more attractive for both residents and visitors from around the world, the industry is now one of the most important sources of economic growth in the region.
The index sees Saudi Arabia, as well as Qatar and the UAE all achieve high placement in this year's rankings. Saudi Arabia is currently placed in 13th place while Qatar is seeing great success in 7th place, building on the success of its 2012 ranking in 11th place. The UAE has also moved up the rankings from 15th in 2012 to 11th.
Due to a reputation for efficient project delivery and ease of transition, Middle Eastern markets are proving increasingly attractive to international retailers. This is set to continue and the future will no doubt see the market become a strong contender to the Western markets, which currently remain the most desirable according to the index, with the UK, Germany and the Netherlands topping the list.
Terry Tommason, head of property, Middle East, at EC Harris, commented: "Retailers are increasingly seeing the benefits of expanding their businesses into Saudi Arabia and other Middle Eastern markets with their strong consumer base, high levels of wealth and established construction market."
"Successful retail expansion in the Middle East as a whole relies heavily on the pace of delivery of major programs and a high quality store end product. The region's ability to access and retain the best program capabilities both in terms of supply chain and project delivery is a source of competitive advantage for the Middle East as it will allow retailers to mitigate risk and reputational damage. Each of these factors will enable the Middle East to cement its position as a global retail hub," he added.
While many of the top ranking countries, including those in the Middle East, are those with established markets and a well-developed consumer base, those that rank lower include developing BRIC nations who pose greater risk and reputational damage to retailers.
This is despite China's emergence as one of the world's largest consumer markets. The country remains around the midpoint of the index in 23rd place, though above the other BRIC countries - Brazil, India and Russia.
With renewed focus on compliance, ethics and business governance arising from the Bangladesh factory incident, retailers are increasingly putting proactive measures in place to protect the brand from direct and indirect damage and to minimize reputational risks. The likelihood of risk and reputational damage to a retailer is much greater in emerging and developing markets, and the report highlights the need to maintain brand protection while retaining quality and speed when entering new markets.
Tommason added: "No matter where retailers are looking to expand, property development programs must be streamlined to ensure efficiency. In today's volatile market, the competitive advantage will come to those retailers, which implement practical solutions throughout the supply chain to expand faster and save money, while protecting the brand."

 


Arab News




  MENA News Headlines
 Sep 30 2014 - No Haj without permit: Checkpoints net 98000Arab News
(MENAFN - Arab News) Security forces have barred 98000 people from entering Makkah because they did not have Haj permits the Interior Ministry said in a statement on Monday. The authorities did not ...

 Sep 30 2014 - Turkey tanks face IS at Syria borderArab News
(MENAFN - Arab News) MURSITPINAR Turkey: Turkey on Monday deployed tanks and armored vehicles to reinforce its border with Syria amid escalating Islamic State violence as Parliament is set to ...

 Sep 30 2014 - Price control to end pilgrim abuseArab News
(MENAFN - Arab News) The Ministry of Haj plans to fix the prices of Haj services offered by companies in an attempt to prevent the exploitation of pilgrims by unscrupulous operators.Hussein Al-Sharif ...

 Sep 30 2014 - KSA to host 1.4m Hajis from abroadArab News
(MENAFN - Arab News) More than 1.4 million foreign pilgrims are expected to perform Haj this year said Haj Minister Bandar Hajjar. 'About 1.36 million pilgrims already arrived from different ...

 Sep 30 2014 - Misconceptions about IslamArab News
(MENAFN - Arab News) This is with reference to the report 'Be modern but don't shun Islamic values: King' (Sept. 29). Everybody should read Custodian of the Two Holy Mosques King Abdullah's speech ...

 Sep 30 2014 - Toppling Assad regimeArab News
(MENAFN - Arab News) Beyond a shadow of doubt the atrocities committed by the regime of Bashar Assad paved the way for the militants belonging to the so-called Islamic State to take roots in Syria. ...

 Sep 30 2014 - South Korea's Overseas Construction Orders Grow 5.2%Qatar News Agency
(MENAFN - QNA) Overseas construction projects won by South Korean builders so far this year have risen 5.2% from a year earlier with the annual total expected to top US$70 billion, the government ...

 Sep 30 2014 - Real Estate Transactions Worth over QR831 Million Last WeekQatar News Agency
(MENAFN - QNA) Real estate transactions between September 21 and 25 for the real estate sales contracts registered at the Ministry of justice are worth QR831,613,172, the real estate registration ...

 Sep 30 2014 - HITC Honours Media for Success of Kulluna CampaignQatar News Agency
(MENAFN - QNA) The Hamad International Training Centre (HITC) honoured over 50 representatives from media, healthcare and corporate executives for their contribution towards the success of its ...

 Sep 30 2014 - Power of social mediaArab News
(MENAFN - Arab News) This is with reference to the article 'Shift in US public discourse on ME' (Sept. 29) by Jamal Doumani. It is very true that with the advent of social media things have started ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help