UAE retail sales to grow 13% to $58bn
DUBAI, 5 days
ago
Retail sales in the UAE are expected to rebound and grow by 13% to reach $58 billion by the end of 2021.
Covid-19 has accelerated digital transformation in the UAE and the Mena region – shifting from the traditional brick-and-mortar to omnichannel retail, like the rest of the world, while online shopping has picked up fast over the last one year since the lockdown in March last year, experts at a conference titled ‘Let’s Talk Shop’, organised by Images RetailME, said.
UAE retail sales are forecast to maintain 6.6% annual growth in the medium term to reach $70.5 billion by 2025. A recent study found that companies with $1 billion annual turnover can expect to earn an additional $700 million within three years of investing in customer experience.