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Report
Qatar Retail Industry - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 150 Pages I Mordor Intelligence
The Qatar retail industry is expected to grow at a CAGR of greater than 5% in the forecasted period. The e-commerce industry includes the digital channel-based sale of tangible commodities to individual end-users. This definition includes purchases made using mobile devices and desktop computers (including notebooks and laptops). Digitally distributed services, media downloads or streaming, items delivered digitally in B2B markets, and the digital purchase or resale of worn, damaged, or repaired goods are not included in the e-commerce market. All monetary amounts are expressed in the annual gross revenue, excluding shipping expenses.
The COVID-19 pandemic significantly affected the retail sector in Qatar, as overall consumer spending decreased. However, the e-commerce sector saw an incremental rise during the lockdowns and restrictions on movement imposed by the local governments.
Despite the worldwide slump, Qatar's retail sector performed well. Although stores had to close in the spring due to lockdown measures by governments worldwide to stop the spread of COVID-19, reopening started as early as that summer. Since then, several health regulations have been implemented at malls and retail establishments in Qatar to welcome customers. Even though median monthly rents decreased, a few new malls opened in the base year, and more are anticipated for the following year, thanks to pent-up demand for goods and socializing. Online delivery and minimal supply disruption during the pandemic helped grocery stores, mainly thanks to Qatar's pre-pandemic drive to increase food security and diversify trading.
Qatar Retail Market Trends
Rising Disposable Income and Affluent Standard of Living is Driving the Market
The nation offers a sizable consumer market. With a population of over 2.6 million and a 99.4% urbanization rate, Qatar is also one of the wealthiest nations in the world, ranking fifth with a GDP per capita of over US$132,886 in the base year. Qatari consumers are open to trying new items and examining the quality of the goods and services being supplied. Previously, there were 21 shopping malls and 1.4 million sq. m. of organized retail space in the city. Rapid economic development, high levels of disposable income, and a high standard of living are the main drivers of retail market expansion.
As predicted, place Vendome, Qatar's largest shopping center, opened in April this year; most of its stores are already leased. Since Tawar Mall opened earlier, Place Vendome is the first sizable mall (50,000 sq. m. or more) to debut in Qatar. It will include numerous new retail brands, including Fortnum & Mason, Urban Outfitters, and Anthropology. The launch of Place Vendome will mark Doha's 19th mall with more than 20,000 sq. m. of rentable space. More than 1.7 million sq. m. of organized retail space will be added to Qatar, with 230,000 sq. m.
Digital Adoption and Transformation is Boosting the E-Commerce Sector
The government moved rapidly to facilitate the expansion of digital options when non-essential stores were shut down at the start of the pandemic. For instance, the Qatar Central Bank introduced the Qatar Mobile Payment System, which enables users to pay with their smartphones by scanning QR codes. This was made possible by the population's propensity to use digital tools. According to Bader Al Darwish, chairman and managing director of Darwish Holding, "It is essential to accelerate digital transformation plans in retail to reflect the rapidly changing ambitions of customers and exceed their expectations."
Local retailers had to adapt, and many joined forces with large e-commerce platforms and delivery services. Before the pandemic ended, they needed more resources, creativity, and know-how to build their digital presence. One organization that took advantage of the rise in online shopping was EB utler, which assisted various companies in developing a multichannel strategy for delivering goods and services.
Qatar Retail Market Competitor Analysis
The retail industry is fiercely competitive, with a small number of significant businesses controlling the majority of the market share. With companies expanding their storefronts and considering the commercial possibilities in new regions, the organized retail market has been developing rapidly. Large hypermarkets, supermarkets, and other retail chains are steadily replacing the majority of unorganized retail establishments. A large-scale continuation of this is anticipated during the forecast period, contributing considerably to market growth. Some of the major players dominating the market are Chalhoub Group, Alshaya, and Al Tayer Group, etc.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness - Porters' Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitutes
4.4.5 Intensity of Competitive Rivalry
4.5 Insights on Impact of Technology and Innovation in Operation in Retail Industry Market
4.6 Impact of COVID-19 on the Market
5 MARKET SEGMENTATION
5.1 By Product
5.1.1 Food and Beverages
5.1.2 Personal and Household Care
5.1.3 Apparel, Footwear, and Accessories
5.1.4 Furniture, Toys, and Hobby
5.1.5 Electronic and Household Appliances
5.1.6 Other Products
5.2 By Distribution Channel
5.2.1 Supermarkets/Hypermarkets, Convenience Stores, and Department Stores
5.2.2 Speciality Stores
5.2.3 Online
5.2.4 Other Distribution Channels
6 COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Chalhoub Group
6.2.2 Azadea Group - Lebanon
6.2.3 Alshaya Group
6.2.4 Al Tayer Group
6.2.5 Gulf Marketing Group (GMG Group)
6.2.6 Gourmia
6.2.7 Tayama
6.2.8 Majid al futtaim retail
6.2.9 Al Mana
6.2.10 Al Jassim Group*
7 FUTURE OF THE MARKET
8 DISCLAIMER
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