The Middle East's retail sector is moving upmarket, becoming more competitive and adopting brand management techniques, according to retail industry consultancy Eurolink.
Eurolink representative, Nicola Evoli says the Middle East retail sector was only minimally affected by the Iraq conflict and is rapidly adapting to change. "The market has not been hit too badly, it is a very determined market and there have not been any real complaints of recession," he said. "Major retailing in the region is adapting to change, it is taking on a more competitive edge with brand management and such like."
Evoli was speaking on the sidelines of the Motexha Spring 2003 fashion, textiles and retail trade show, which runs at the Dubai International Exhibition Center (DIEC) until Thursday. He said the regional industry would benefit from the low cost of the dollar.
Evoli has welcomed new initiatives launched by Motexha organizers IIR Exhibitions and due to be introduced to its Autumn show. These include a new branded goods arena. He said while the Middle East offered limited scope for new development, the potential for retail re-organization is huge.
"This is particularly so as the existing market is replaced with better and more renowned goods. Things are getting better, the region is moving up-market." New development, said Evoli, could come from the Iraq market though the time-scale would not be immediate.
"It is not possible to address a market until stability is restored," said Evoli. "This will take time and I cannot see it occurring for two to three years. However, other areas of the region are enjoying a far more immediate response to the liberation of Iraq, such as Jordan and Egypt. They will both benefit from the restored confidence as they already have good infrastructure and stability. Egypt is close to the EU so trading possibilities are massive and Jordan will enjoy greater stability for trading purposes.”
Motexha Spring visitors also voiced optimistic forecasts for the regionwide industry with Saudi Arabia and Iran being tipped as key supply markets. Motexha Spring 2003 features 150 exhibitors from 18 countries and nine national pavilions. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
