Retail

In the world of retail, Kuwait is a heavy-hitter. This is despite a relatively small population of some 3.5m. Indeed, with the high level of disposable income that Kuwaitis enjoy, retail sales are expected to grow over the coming years by some 42%, from $8.41bn in 2011 to $11.92bn by 2015. This is because mall shopping has become ingrained in local popular culture. Moreover, in recent years a range of new shopping developments have driven up the level of competition. The food and beverage segment continues to be a key component of the retail market, contributing $2.54bn in sales for 2010, accounting for a 33.9% share of the overall sector, despite inflation and the rising cost of food.