Retail Industry in Kuwait - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Market Is Segmented by Products Category and Distribution Channel.

Market Snapshot

Retail Industry in Kuwait
Study Period: 2016 - 2026
Base Year: 2020
CAGR: >10 %

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Market Overview

Kuwait is one of the fastest-growing markets, which is driven by a strong purchasing power vested in Infrastructural projects, the retail industry, and a strong trading and oil industry. Kuwait’s retail sector has expanded significantly given the development of shopping malls. Recovering economy coupled with increasing buyer purchasing power, high disposable incomes of middle-class families, and ease of access are driving the retail industry in Kuwait. Moreover, Kuwait has approximately 45% of the population in the 20 to 39 age brackets, and these young consumers have a high inclination towards retail spending in retail malls, and in the purchase of international brands. The internet penetration in Kuwait is one of the highest in the world at 98% as of 2017. This has helped Kuwait’s e-commerce market is expanding rapidly as Kuwaitis and expatriates are shopping online.

Scope of the Report

A complete background analysis of the retail industry in Kuwait, which includes an assessment of the National accounts, economy, and the emerging market trends by segments, significant changes in the market dynamics, and the market overview is covered in the report.

Product
Food and Beverage and Tobacco Products
Personal and Household Care
Apparel, Footwear, and Accessories
Furniture, Toys, and Hobby
Industrial and Automotive
Electronic and Household Appliances
Pharmaceuticals, Luxury Goods, and Other Products
Distribution Channel
Stored-based (Hypermarkets and Supermarkets and Department Stores)
Direct Selling
E-commerce
Other Distribution Channels (Drugstores and Organization’s Retail)

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Key Market Trends

Increase in the population is Driving the Market

Kuwait is one of the richest countries in the world. Rapid urbanization, the influx of the expatriate workforce, and a rising population of the young and affluent are the key factors driving Kuwait’s retail industry. E-commerce and online shopping in Kuwait is also poised for growth, with a large percentage of the population under the age of 25, and social media and internet penetration in the country ranked among the highest in the GCC. The increasing population has been the vital driving force of the retail market in Kuwait. A high composition of young and working-class has led to a shift in consumer preferences towards international foods and western products. The retail industry, which is one of the fastest-growing sectors in Kuwait, has thrived over the last several years due to increasing purchasing power, growing expatriate population, and changing lifestyle.

Retail Industry in Kuwait 1

Ecommerce Segment

Growing Kuwait e-commerce distribution channels are encouraging the foray of new entrants into the market. Kuwait retail companies are focussing on improving economies of scale, boosting operational efficiency, and diversifying revenue through e-commerce channels. The development of advanced online platforms has made online shopping a highly convenient experience and shoppers are also enticed by the attractive deals offered by these websites. The high rate of smartphone penetration in the count is one of the main reasons for e-commerce growth in Kuwait. The mobile operators in Kuwait offer one of the most advanced mobile networks in the Middle East.

Retail Industry in Kuwait 2

Competitive Landscape

The report covers major international players operating in the retail industry in Kuwait. In terms of market share, some of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS AND DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Drivers

    3. 4.3 Restraints

    4. 4.4 Opportunities

    5. 4.5 Industry Value Chain Analysis

    6. 4.6 Porters Five Force Analysis

    7. 4.7 Customer Behaviour Analysis

    8. 4.8 Insights into the Advertising Strategies of the Leading Players across Segments

    9. 4.9 Impact of COVID-19 on the Market

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product

      1. 5.1.1 Food and Beverage and Tobacco Products

      2. 5.1.2 Personal and Household Care

      3. 5.1.3 Apparel, Footwear, and Accessories

      4. 5.1.4 Furniture, Toys, and Hobby

      5. 5.1.5 Industrial and Automotive

      6. 5.1.6 Electronic and Household Appliances

      7. 5.1.7 Pharmaceuticals, Luxury Goods, and Other Products

    2. 5.2 Distribution Channel

      1. 5.2.1 Stored-based (Hypermarkets and Supermarkets and Department Stores)

      2. 5.2.2 Direct Selling

      3. 5.2.3 E-commerce

      4. 5.2.4 Other Distribution Channels (Drugstores and Organization’s Retail)

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 MARKET CONCENTRATION ANLAYSIS

    2. 6.2 COMPANY PROFILES

      1. 6.2.1 The Sultan Center

      2. 6.2.2 Morad Yousuf Behbehani Group

      3. 6.2.3 Alshaya Group

      4. 6.2.4 Abdul Aziz S. AL-Babtain & Sons Co

      5. 6.2.5 Gulf Franchsing Company

      6. 6.2.6 Future Communication Company Global

      7. 6.2.7 Villa Moda

      8. 6.2.8 Musaed Bader Al Sayer Group

      9. 6.2.9 YIACO Medical Company

      10. 6.2.10 SAFWAN's Pharma

    3. *List Not Exhaustive
  7. 7. FUTURE OF THE RETAIL INDUSTRY IN THAILAND

  8. 8. DISCLAIMER

  9. 9. APPENDIX

**Subject to Availability

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Frequently Asked Questions

The Retail Industry in Kuwait market is studied from 2016 - 2026.

The Retail Industry in Kuwait is growing at a CAGR of >10% over the next 5 years.

The Sultan Center, Morad Yousuf Behbehani Group, Alshaya Group, Abdul Aziz S. AL-Babtain & Sons Co, Gulf Franchsing Company are the major companies operating in Retail Industry in Kuwait.

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