Boston, MA -- (SBWIRE) -- 10/13/2014 -- Our forecast that Kuwait will achieve real GDP growth of 2.9% in 2014 and 2.7% in 2015 makes the country a strong retail market. While the ARA index of consumer confidence has been heading sideways in recent months, the increase in the number of point-of-sale transactions (a proxy for retail activity) has remained elevated, and we forecast that private consumption growth will remain robust.

The Kuwait Retail Report provides an extensive and comprehensive forecast of various retail indicators including household spending and headline total spending across each retail subsector, household income and employment forecasts, demographic forecasts and a detailed breakdown of household and per capita spending across a large number of retail areas including food & drink, clothing & footwear, household goods and a number of other subsectors.

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Until recently, Kuwait's retail market was somewhat overshadowed by the more sophisticated offerings of neighbouring Dubai. Increasingly, though, international retailers are eyeing up opportunities in the small but wealthy state, with Kuwait at the forefront of the fashion market in the Middle East. The non-food sector in Kuwait is dominated by shopping malls, which are becoming larger and more impressive. The Avenues houses strong international brands and sees more than 20mn visitors every year, while the new Gate Mall has attracted retailers including Zara, Nike, Al Ostoura, Debenhams, H&M, Victoria's Secret and Sephora.

In a country in which 45% of the population is in the 20-39 years age range, important for household spending on the retail sector, these malls are attracting young consumers keen to buy international brands. Kuwaiti women do not generally wear abayas, so there is a much more open attitude towards fashion. Retailers and developers are all too aware of this, with Sheikh Majed al-Sabah's planned 86,000sq ft Exhibition Hall destined to showcase many international fashion brands and Majid Al...

The Kuwait Retail Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for the retail sector. The report examines key drivers of retail sales growth and future prospects, including consumer spending and private sector investment.

BMI's Kuwait Retail Report also examines the level of development and potential for growth of the retail sector, the commercial initiatives of major players, changing consumer demographics that influence demand and the regulatory environment. Key sub-sectors include mass grocery retail, autos, over-the-counter pharmaceuticals, computers and consumer electronics.

Key Benefits:

- Benchmark BMI's independent retail industry forecasts for Kuwait to test other views - a key input for successful budgeting and strategic business planning in the Kuwaiti retail market.

- Target business opportunities and risks in Kuwait through our reviews of latest industry trends, regulatory changes and major deals, projects and investments.

Coverage

BMI Industry View

Summary of BMI?s key forecasts and industry analysis, plus a discussion of major industry developments and a snapshot of key short-term demand-driving macroeconomic movements.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the retail sector and within the broader political, economic and business environment.

BMI Industry Forecasts

There are four separate 5-year forecast modules in the retail reports. These are:

Headline Retail Forecast: Total Household Spending, (US$bn and local currency, % growth, % GDP, per capita, per household); Spending by Retail Sector for: food and non-alcoholic drink, alcoholic drink, clothing and footwear, housing and utilities, furnishings and home, health, transport, recreation, education, transport, restaurants and hotels, personal care and insurance (US$bn and local currency, % growth, % GDP, % of total spending)

Retail Sector Forecast: Breakdown of Food, Non Alcoholic Drink, Alcohol, Tobacco, Clothing, Footwear, Household Goods, Furnishings, Appliances, Glass and Tableware, Household Textiles, Consumer Electronics, Garden Toys and Pets, Home and Garden tools, Personal Care, Personal Effects Spending (US$bn, % Growth);

Household Income and Numbers Forecast: Number of Households (?000,% growth); gross income per household and per capita; net income per household and per capita; tax and social contributions per capita; breakdown of household incomes ? US$5000+, US$10,000+ US$50000+ (?000, % of total); labour force, employment and unemployment (?000, % change)

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