Boston, MA -- (ReleaseWire) -- 03/17/2014 -- Strong private consumption and access to the latest technologies show promise in the Kuwaiti market. Kuwait has a relatively high GDP per capita along with its strong private consumption, mainly fuelled by its hydrocarbons resources. However, the country's small population means it has much smaller sales per capita than many other countries in the region. In our latest update to Kuwait's Consumer Electronics Report, we take a look at international and local players' role in the country's competitive landscape.
Headline Expenditure Projections
- Computer Hardware Sales: US$393mn in 2012 to US$401mn in 2013, +1.9% in US dollar terms. Form factors such as tablets and ultrabooks will be key growth areas.
- AV Sales: US$454mn in 2012 to US$484mn in 2013, +6.5% in US dollar terms. Rising incomes, the growing affordability of AV devices and product innovation will drive continued growth.
- Handset Sales: US$196mn in 2012 to US$218mn in 2013, +11.3% in US dollar terms. Mobile number portability (MNP) and the rapid roll-out of 4G services will drive strong growth in the smartphone market.
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Kuwait's score is 60.2 out of 100, maintaining its third-place ranking. The country had been pushed from second to third in the MEA region in last quarter's RRR table, placing it behind Qatar and the UAE Key Trends And Developments
The popularity of e-commerce over 2013 has increased, according to Econsultancy. Online bookings and ebanking are proving particularly popular. Clothing and airline tickets are two of the most popular products Kuwaitis are buying online. We believe this signifies consumers' increasing confidence in online transactions, and that this is an area poised for strong growth.
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