Kuwait Retail Report Q3 2016

Date: June 29, 2016
Pages: 59
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)

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Includes 3 FREE quarterly updates

BMI View: Kuwait's oil-dependent economy is facing a notable slowdown, following a recent drop in global oil prices. This is negatively affecting business and consumer confidence levels, forcing households to re-allocate their spending priorities on essential goods and services. We believe that elevated inflation, triggered by removal of fuel subsidies and persisting housing shortages, will continue weighing on consumer spending power over the coming quarters.

Key Updates and Forecasts
  • Total household spending in the retail sector is expected to average 4.0% per annum during 2016-2020. Except for housing and utilities sub-sector, all other spending categories will see their shares declining in terms of overall household expenditures over the next five years.
  • Household expenditures will shift towards essential goods and services, with spending on housing and utilities leading the way. Despite relative affluence of the Kuwaiti population, we believe that essentials will account for nearly three quarters of total household spending by the end of 2020.
  • The share of households earning above USD10,000 will remain at around 80% across our forecast period to 2020.
  • In early 2016, US-based department stores retailer Macy's revealed that it will open a 93,000 square feet Bloomingdales outlet at Kuwait's 360 Mall in spring 2017. The company has signed a strategic partnership agreement with the UAE-based Al Tayer Group.
  • In March 2016, Paris-based luxury fashion retailer Karl Lagerfeld opened its first 75 square metre concept store at Avenues Mall in Kuwait.
BMI Industry View
Retail SWOT
Industry Forecast
Headline Retail Forecast
  Table: Total Household Spending (Kuwait 2013-2020)
  Table: Retail Sector Spending, % Of Total (Kuwait 2013-2020)
  Table: Headline Retail Sector Spending (Kuwait 2013-2020)
  Table: Retail Sector Spending, % of GDP (Kuwait 2013-2020)
Retail Sector Forecast
Food, Drink & Tobacco
  Table: Food, Drink & Tobacco Spending (Kuwait 2013-2020)
Clothing & Footwear
  Table: Clothing & Footwear Spending (Kuwait 2013-2020)
Household Goods
  Table: Household Goods Spending (Kuwait 2013-2020)
Personal Care
  Table: Personal Care Spending (Kuwait 2013-2020)
Household Numbers And Income Forecast
  Table: Household Income Data (Kuwait 2013-2020)
Demographic Forecast
  Table: Total Population (Kuwait 2013-2020)
  Table: Population: Babies (Kuwait 2013-2020)
  Table: Population: Young Children (Kuwait 2013-2020)
  Table: Population: Children (Kuwait 2013-2020)
  Table: Population: Young Teens and Older Children (Kuwait 2013-2020)
  Table: Population: Young People (Kuwait 2013-2020)
  Table: Population: Older Teenagers (Kuwait 2013-2020)
  Table: Population: 21yrs + (Kuwait 2013-2020)
  Table: Population: Young Adults (Kuwait 2013-2020)
  Table: Population: Middle Aged (Kuwait 2013-2020)
  Table: Population: Urban (Kuwait 2013-2020)
Industry Risk/Reward Index
Middle East And North Africa Risk/Reward Index
  Table: Middle East And North Africa Retail Risk/Reward Index, Q316
Kuwait Industry Risk/Reward Index
Market Overview
Competitive Landscape
Clothing & Footwear
  Table: Selected Clothing & Footwear Retailers
Household Goods
  Table: Selected Household Goods Retailers
  Table: Selected Electronics Retailers
Department Stores
  Table: Selected Department Stores
  Table: Selected E-Commerce Retailers
  Table: Selected Pharmacies
Industry Forecast Methodology
Risk/Reward Index Methodology
  Table: Retail Risk/Reward Index Indicators
  Table: Weighting Of Indicators
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