Retail Growth Opportunities in the Middle East
Type
E-journal
Date
5 Mar 2014
Jurisdiction
Bahrain, Egypt, Iran, Iraq, Jordan, Kuwait, Lebanon, Libya, Oman, Qatar, Saudi Arabia, United Arab Emirates
Taxonomy
General Commercial Law
Copyright
LexisNexis
Relevant company
Deloitte & Touche (M.E.)
Analysis
Despite tough global economic conditions, revenues for the world's 250 largest retailers reached $4.3 trillion* in the last fiscal year (June 2012-June 2013). The average size of the top 250 retailers exceeded $17 billion according to the 2014 Global Powers of Retailing report from Deloitte together with STORES Media.
Interestingly, for the first time this year's report shows that some of the top global retailers undertook a series of sell-offs in order to remain profitable and ride out the tough trading period.
There was also a shake-up among the world's 10 largest retailers last fiscal year, mostly as a result of a series of divestments. As a group, the top 10 grew more slowly than the top 250 the past fiscal year with retail revenue growth of 4.2% versus the 4.9% growth in the previous fiscal year.
Emerging markets enjoy strong demand while Europe increases dependence on foreign markets