Saudi retail trade value poised to reach SR267bn

Saudi-retail-sector.jpg10/05/2014 (Arab News – KSA): Saudi Arabia’s retail market is projected to grow at an estimated value of $73.6 billion (SR267 billion) by the end of 2014 compared to $66.7 billion (SR250 billion) in 2012, local media said quoting a report released by Oxford Business Group (OBG). The projected growth of the retail market is attributed to many factors including high rates of consumption, growing population and expansion of incomes, the report said. The growing number of young population and consumers has triggered firms, businesses and factories to open new branches and outlets which, in turn, led investors open more stores, hypermarkets and open-and-closed malls in different parts of the Kingdom, the report said. Manufactured items for direct use captured 38.5 percent of the market share whereas electronic devices, textiles and clothes, sanitary items and cosmetics accounted for 27.3 percent, 23.3 percent and 17.9 percent, respectively, the report said…




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