Retail Market in United Arab Emirates

Retail is one of the most important pillars of UAE’s economic diversification. UAE stands tall as one of the leading retail centres in the gulf. Growing on an average of 5 percent every year, the retail market plays a significant role in UAE’s economy. It accounts for more than 11 percent of UAE’s Gross Domestic Product (GDP) and 30 percent of Dubai’s GDP. In order to encourage sustained economic growth, the government is looking forward to perform a robust management of retail trade. Dubai is the retail hub of the region because of its retail space. The exponential growth of Dubai’s retail market has attracted global industries to retail in Dubai and around UAE as well. Nowadays, the tech-savvy consumers of UAE have influenced the rise of e-commerce. Advanced technology and higher standard of living are those factors that has boosted online purchases in UAE. The country has welcomed digitalisation in every industrial sector and the retail sector is expecting large amount of online transactions in the future. As far as customer engagement is concerned, there’s a need of adaptability and flexibility to grow e-commerce in UAE. Higher use of smartphones and tablets along with the increase in the use of credit and debit cards, online retail have laid its foundation and it’s growing rapidly. UAE’s retail sector cannot afford to ignore e-commerce as it’s the root of further development of the upcoming economic phase. Increasing public and private sector consumption along with other industrial sectors’ contribution, the overall retail sector of UAE is expecting exponential growth in the future. Being the retail hub in the region, Dubai is working to safeguard its economic sustainability to secure future benefits in the retail sector. The government is focusing on the new vistas in the retail market emphasising direct sales, safety and security, advertising, etc.
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Retail & Traders

United Arab Emirates

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