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."

 






  MENA News Headlines
 Jul 12 2014 - Bashir Bou-Abbas Al-Shebab Ashkanani win goldsArab Times
(MENAFN - Arab Times) KUWAIT CITY July 6 (KUNA): Kuwaiti swimmers have snatched four gold and three sliver medals in first and second day of the German's Darmstadt International Swimming Competition. ...

 Jul 12 2014 - Bid to modernise processArab Times
(MENAFN - Arab Times) Normal 0 false false false EN-US X-NONE AR-SA /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; ...

 Jul 12 2014 - Project expected to create 20000 hotel roomsArab Times
(MENAFN - Arab Times) DUBAI July 6 (KUNA): UAE Vice President and Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al-Maktoum launched Saturday the world's first temperature-controlled ...

 Jul 12 2014 - WHO Disease Outbreak News Ebola virus disease West AfricaupdateMENAFN Press
(MENAFN Press) GENEVA Switzerland July 11 2014/African Press Organization (APO)/ -- Epidemiology and surveillance The World Health Organization (WHO) continues to monitor the evolution of the ...

 Jul 12 2014 - Uganda Ruling Against LGBT Activists Violates RightsSets Dangerous Precedent Inhibits Advocacy HIV OutreachMENAFN Press
(MENAFN Press) NAIROBI Kenya July 11 2014/African Press Organization (APO)/ -- The decision of the Ugandan High Court published on July 9 2014 endorsing the government closure of a lesbian gay ...

 Jul 12 2014 - Qatar's Investcorp acquires SPGPrints for USD327mMENAFN
(MENAFN) Bahrain-based Investcorp, an alternative investment manager, announced its agreement to acquire SPGPrints Group from funds managed by Bencis Capital Partners for USD327 million, Gulf Daily ...

 Jul 12 2014 - Emirates airlines finalize USD56b Boeing orderMENAFN
(MENAFN) Dubai airline Emirates finalized a USD56 billion order to buy 150 Boeing 777X jets, firming up a commitment made last year, just weeks after scrapping an order with rival planemaker Airbus, ...

 Jul 12 2014 - Abu Dhabi's ports forecast heavy traffic from SeptemberMENAFN
(MENAFN) The major ports in Abu Dhabi are expecting a high volume of business from September this year due to increased demand from several key infrastructure projects in the emirate, Gulf News ...

 Jul 12 2014 - Qatar to invest USD182b in developmental projectsMENAFN
(MENAFN) Qatar has budgetary provisions to invest over USD182 billion in various developmental projects over the next five years, excluding oil and gas projects and private sector investment, The ...

 Jul 12 2014 - Cholera threatens thousands in S. SudanArab News
(MENAFN - Arab News) KAMPALA Uganda: An outbreak of cholera is putting thousands of lives at risk in parts of South Sudan worsening the country's humanitarian crisis amid ongoing violence the aid ...

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