New Retailing market report from Business Monitor International: "Bahrain Retail Report Q1 2014"
Boston, MA -- (SBWIRE) -- 01/01/2014 -- Bahrain's retail sector is expected to grow steadily over the next few years as its increasingly sophisticated urban population continues to spend on non-essential items such as luxury clothing and jewellery. This will result in a strong rise in household spending across all retail subsectors. We are particularly bullish about the future growth prospects for food & non-alcoholic drinks and recreation & culture spending, with expenditure on clothing & footwear and furnishing & home also forecast to grow strongly between 2013 and 2018. However, we expect housing & utilities expenditure to remain by far the highest throughout our forecast period.
The new Bahrain retail report provides an extensive and comprehensive forecast of various retail indicators including household spending, and headline total spending across each retail subsector, household income and employment forecasts, demographic forecasts, and a detailed breakdown of household and per capita spending across a large number of retail areas including food & drink, healthcare and insurance, consumer electronics, toys, pets, gardens, household goods, and a number of other subsectors.
View Full Report Details and Table of Contents
The Bahrain retail market is substantially less developed than those of Dubai or Abu Dhabi, with convenience stores still very much part of the retail scene and traditional markets (souks) continuing to dominate the market for traditional services and goods such as gold, fabric and sweets. However, Bahrain's love affair with modern retail is intensifying, with 'super malls' such as the Bahrain City Centre development revolutionising the retail scene. Bahrain's growing population, increasing levels of disposable income and proximity to Eastern Province in Saudi Arabia have all contributed to a significant increase in the size of the retail market in the past decade.
We forecast that the average net household income will be around US$63,846 in 2013, with almost 87% of all households in the middle-income bracket of $10,000+. A significant percentage (44.4%) of households falls into the highest US$50,000+ wage bracket, and this is forecast to rise to 55.8% by 2018. This represents the key demographic for increased household spending on luxury items beyond necessities such as food, utilities and transport, and will result in a corresponding increase in household spending on health, communications and personal care.
However, we note downside risks to our forecasts from the continued uncertainty of Bahrain's political trajectory, with private-sector investment and business confidence set to remain below potential until a resolution is found - an outcome we deem unlikely at present.
Recent Developments Include:
- Bahrain and China have signed an agreement to build a Chinese-themed retail shopping mall in Diyar al-Muharraq, scheduled to open in 2014.
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Retailing research reports at Fast Market Research
You may also be interested in these related reports:
- Indonesia Retail Report Q1 2014
- China Retail Report Q1 2014
- Malaysia Retail Report Q1 2014
- Croatia Retail Report Q1 2014
- Chile Retail Report Q1 2014
- BMI India Retail Report Q1 2014
- Philippines Retail Report Q1 2014
- Argentina Retail Report Q1 2014
- Russia Retail Report Q1 2014
- Brazil Retail Report Q1 2014
Copyright © 2005-2014 - SBWire, The Small Business Newswire - All Rights Reserved - Important Disclaimer
Contact Us: 888-4-SBWIRE (US) - 920-593-5640 (International)