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The really big innovations in retail have tended to focus on how consumers interact with the retailer and make purchases. Think of the emergence of the out of town superstore format, the rapid growth of smaller, local “express” style grocery stores or the shift towards online food and groceries ordering.
Whether you look to North America, Europe, the Middle East or Asia, the retail model today is essentially stable, with the largest retailers in each region pursuing proven strategies based on a portfolio of offline formats, backed up by a fast-growing digital offer.
Retail has been and is still one of the fastest growth catalysts for the Middle Eastern economy. A rapidly growing population, a thriving tourism sector and healthy expatriate wealth base make for ideal conditions for growth in the retail sector as well as provide ongoing opportunities for investment in this industry.