Kuwait Luxury Retail

Executive Summary

High GDP, increasing population and high per capita income makes Kuwait a popular destination for the luxury retailers. Our report on luxury retail sector in Kuwait provides a comprehensive coverage of the sector, discussing the current state of luxury retail in terms of players, infrastructure, e-commerce etc. It also provides insights on the impact of topical issues such as COVID-19, repatriation of expats in Kuwait on luxury retail. Factors that support the sector's growth such as consumer behaviour, retail infrastructure development etc. have been discussed. The report also provides multiple data points that support the prospects of luxury retail in Kuwait such as income levels, consumer spending, demographics, tourism etc.

Key Discussion Points

• Major segments and players in Kuwait's luxury retail sector
• Retail formats and infrastructure including details on retail existing and upcoming retail space
• Factors favouring the growth of luxury retail in Kuwait such as affluence of the population, improving business environment etc
• Challenges faced by the sector such as expat exodus
• Impact of COVID-19 on luxury retail and outlook for the luxury retail sector

Did you know?

• Kuwait is the thirteenth richest country in the world, in terms of average per capita income.
• Kuwait's per capita income is expected to grow at a CAGR of 1.9% in 2020 and real household expenditure in Kuwait is expected to grow by 4.1% year on year in 2021.
• Revenue from Kuwait's e-commerce market is projected to grow at a CAGR of 6.12% and set to reach USD 1,562million by 2025.
• A highly popular mall in Kuwait has a dedicated luxury retail district. It was part phase III of the mall and was extended into phase IV of its development.