Consumer Goods and Retail Report Blog

Increasing standardization, the growing concept of modern retailing, and rising tourism across the nation are the leading factors driving the Saudi Arabia retail market during the projected period. According to TechSci Research report, “ Saudi Arabia Retail  Market  – By Region, Competition, Forecast & Opportunities, 2018-2028F”,  The Saudi Arabia retail market has been observing significant growth owing to factors such as rise in tourism, distinctive marketing strategies by market players, increased presence on online platforms, etc. Consumers are shifting to online channels as a result of the COVID-19 pandemic crisis.. Digitization is anticipated to assist in streamlining processes, cutting expenses, reducing staff workloads, increasing the possibilities for profit generation, and raising the overall quality of customer experience. Players are seeking expansion, emphasizing on creating new business models, and changing their pricing methods as a result of the market becoming more

  Paradigm shift in economy along with changing consumption pattern to drive Saudi Arabia retail market through 2024 According to TechSci Research report,  “ Saudi Arabia Retail Market  By Distribution Channel , By Product Category, Competition, Forecast & Opportunities, 2024 ”,  Saudi Arabia retail market is projected to surpass $ 159 billion by 2024. Growth in the market can be attributed to   increasing standardization, rising disposable incomes and shift towards modern concept of retailing. Moreover, Internet of Things and Big Data are anticipated to shape retail industry in the Kingdom of Saudi Arabia.  In Saudi Arabia luxury spending is strong, however, there is growing demand for affordable brands like Max, which are introducing aggressive plans to expand in the country. Additionally, government initiatives to encourage Saudization and feminization of retail categories catering to women, such as lingerie or cosmetics is further anticipated to fuel growth in Saudi Arabia reta