“Rising Shares of Organized Retail Stores”
Increase in the retail outlet has made it possible for consumers to easily access the product everywhere and anytime. Consumers can directly reach to their nearest retail outlet and enquire for the specific product which they wish to buy. Retail acts as a mode of promotion for the products. Brands usually put big hoardings at the retail as a method to attract the consumers. Since, retail outlets are increasing in the number means market share of particular product is increasing which suggests more sale of that product. Also, market players are coming with more retail outlets in order to cover the large share of market. Instead of retail outlet of single brand, retailers are adopting new strategy by selling products of different brands from the same retail outlet. As it gives more option to the customers and chances of buying increases as if any customer doesn’t gets satisfied from the product of one brand, then they can shift to the other brand. For instance, In October, 2024 according to an article published by Forbes Middle East, the Middle East retail industry has thrived on robust economic growth and rising consumer incomes, though it now faces maturity, with many global retailers experiencing flat or negative growth. As technology reshapes consumer expectations, major retailers are enhancing their digital presence through e-commerce investments. The region's retail landscape is diverse yet concentrated, dominated by a few family-owned companies that hold franchises for international brands, especially in the luxury segment. This article highlights the largest retail chains, considering factors like employee numbers, geographical reach, brand diversity, and store space
Moreover, growing awareness, changing lifestyle and easily access to the products have made customers to reach out to retail outlets. Thus, increased share of organized retail is increasing the sales of white goods and hence is expected to propel the growth of the Middle East and Africa white goods market.
