COVID-19 derails traditional Kuwait retailers

Kuwait’s retail sector is small in absolute terms when compared to regional peers like the UAE or Saudi Arabia. However, Kuwait has one of the highest concentrations of international retailers in the GCC, with luxury segment proving to be a major draw. The value of Kuwait’s retail market was KD 3.5bn or 9.1% of non-oil GDP, as of February 2018 (Oxford Business Group). Consumer preference towards international brands and better retail shopping experiences were exhibiting an upward trend until COVID-19 turned the fortunes of retail markets upside down. Although long term indicators suggest an eventual recovery followed by growth, the...

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