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Research on GCC Countries Off Price Retail Industry Strategy Analysis (Impact of Covid-19)
The GCC Countries Off Price Retail market size in 2022 is 5254.40 million US dollars, and it is expected to be 10386.64 million US dollars by 2029, with a compound annual growth rate of 10.22% expected in 2023-2029.
MARKET COMPETITIVE LANDSCAPE:
The main players in the Off Price Retail market include Dukan, BFL GROUP, Viva, Brands4u, and Affordables . The share of the top 3 players in the Off Price Retail market is 7.09%.
SEGMENT OVERVIEW:
This report conducts segment analysis on type and application level. Type segment includes Retail Apparel and Footwear, Home Fashions, etc. Application segment includes Online Sales, Offline Sales, etc.
---Retail Apparel and Footwear contributes approximately 40.00% share to the market in 2022.
---Offline Sales contributes approximately 83.00% share to the market in 2022.
Report Includes:
This report presents an overview of GCC Countries market for Off Price Retail. Analyses of the GCC Countries market trends, with historic market revenue data for 2018 - 2022, estimates for 2023, and projections of CAGR through 2029.
This report researches the key players of Off Price Retail, also provides the consumption of main regions and countries. Highlights of the upcoming market potential for Off Price Retail, and key regions/countries of focus to forecast this market into various segments and sub-segments. Country specific data and market value analysis for the Saudi Arabia, the U.K., Qatar and Other Countries.
This report focuses on the Off Price Retail market share and industry ranking of main players, data from 2018 to 2023. Identification of the major stakeholders in the GCC Countries Off Price Retail market, and analysis of their competitive landscape and market positioning based on recent developments and segmental revenues. This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way.
This report analyzes the segments data by Type and by Application, from 2018 to 2029. Evaluation and forecast the market size for Off Price Retail sales, projected growth trends, technology, application and end-user industry.
The GCC (Gulf Cooperation Council) countries” off-price retail market is influenced by several trends driven by consumer behavior, market dynamics, and evolving retail strategies. Here are some of the general trends observed in the off-price retail market in the GCC countries:
Increased demand for value-oriented shopping: Consumers in the GCC countries are increasingly seeking value-oriented shopping experiences, looking for quality products at discounted prices. The off-price retail sector caters to this demand by offering branded and high-quality merchandise at lower prices compared to traditional retail channels. The market trend in the GCC countries includes a growing customer base that prefers off-price retailers for their affordable and value-driven shopping options.
Expansion of off-price retail chains: Off-price retail chains have been expanding their presence in the GCC countries, driven by the rising demand for discounted products. International off-price retailers are entering the market, while local players are also expanding their store networks. This expansion enables consumers in the GCC countries to access a wider range of discounted products across various categories, including apparel, footwear, accessories, home goods, and electronics.
Online and omnichannel presence: The growth of e-commerce and digital channels has also impacted the off-price retail market in the GCC countries. Off-price retailers are increasingly establishing their online presence and adopting omnichannel strategies to cater to changing consumer preferences. The market trend includes the development of robust e-commerce platforms, mobile apps, and seamless integration between online and offline channels, allowing customers to shop conveniently and access discounted products through multiple touchpoints.
Seasonal and inventory management: Off-price retail relies heavily on sourcing excess inventory, closeouts, and end-of-season merchandise. The market trend in the GCC countries involves strategic partnerships with brands and manufacturers to secure a consistent supply of discounted products. Off-price retailers utilize effective inventory management practices, including timely sourcing, product assortment optimization, and markdown strategies, to offer a constant flow of attractive deals and discounts to customers.
Emphasis on customer experience: Off-price retailers in the GCC countries are increasingly focusing on enhancing the customer experience to differentiate themselves in the competitive market. They are investing in store design, layout, and visual merchandising to create an inviting and enjoyable shopping environment. Additionally, personalized marketing initiatives, loyalty programs, and targeted promotions are being employed to build customer loyalty and foster repeat purchases.
Shift towards sustainable and ethical practices: With growing consumer awareness about sustainability and ethical practices, off-price retailers in the GCC countries are incorporating eco-friendly initiatives and responsible sourcing strategies. This includes partnerships with sustainable brands, adoption of eco-friendly packaging, and transparent supply chain practices. The market trend involves off-price retailers actively promoting their commitment to sustainability and ethics, resonating with the values of environmentally conscious consumers.
Strategic collaborations and partnerships: Off-price retailers in the GCC countries are engaging in strategic collaborations and partnerships to enhance their product offerings and customer reach. These collaborations may involve exclusive partnerships with well-known brands, joint ventures with local retailers, or tie-ups with online marketplaces. Such partnerships allow off-price retailers to access a wider range of discounted products and expand their customer base through mutually beneficial relationships.
Highlights-Regions
Saudi Arabia
UAE
Kuwait
Qatar
Bahrain
Oman
Player list
Dukan
BFL GROUP
Viva
Brands4u
Affordables
Day to Day
Others
Types list
Retail Apparel and Footwear
Home Fashions
Jewelry and Accessories
Other
Application list
Online Sales
Offline Sales
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