Fast Market Research recommends "Bahrain Retail Report Q3 2014" from Business Monitor International, now available
Boston, MA -- (SBWIRE) -- 07/02/2014 -- Spending on non-essential items such as luxury clothing and jewellery is forecast to increase strongly over the next few years, fuelled by Bahrain's increasingly sophisticated urban population. This will result in a strong rise in household spending across all retail subsectors, with the growth prospects for food and non-alcoholic drinks and recreation and culture being particularly strong. Spending on personal care, communications, clothing and footwear and furnishing and home is also projected to increase significantly between 2014 and 2018. However, we expect housing and utilities expenditure to remain by far the highest throughout our forecast period.
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The 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 and drink, healthcare and insurance, consumer electronics, toys, pets, gardens, household goods, and a number of other subsectors.
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 and the forthcoming The Lagoon and Dragon City 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 USD70,954 in 2014,...
The Bahrain Retail Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for the retail sector. The report examines key drivers of retail sales growth and future prospects, including consumer spending and private sector investment.
BMI's Bahrain Retail Report also examines the level of development and potential for growth of the retail sector, the commercial initiatives of major players, changing consumer demographics that influence demand and the regulatory environment. Key sub-sectors include mass grocery retail, autos, over-the-counter pharmaceuticals, computers and consumer electronics.
- Benchmark BMI's independent retail industry forecasts for Bahrain to test other views - a key input for successful budgeting and strategic business planning in the Bahraini retail market.
- Target business opportunities and risks in Bahrain through our reviews of latest industry trends, regulatory changes and major deals, projects and investments.
BMI Industry View
Summary of BMI?s key forecasts and industry analysis, plus a discussion of major industry developments and a snapshot of key short-term demand-driving macroeconomic movements.
Industry SWOT Analysis
Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the retail sector and within the broader political, economic and business environment.
BMI Industry Forecasts
There are four separate 5-year forecast modules in the retail reports. These are:
Headline Retail Forecast: Total Household Spending, (US$bn and local currency, % growth, % GDP, per capita, per household); Spending by Retail Sector for: food and non-alcoholic drink, alcoholic drink, clothing and footwear, housing and utilities, furnishings and home, health, transport, recreation, education, transport, restaurants and hotels, personal care and insurance (US$bn and local currency, % growth, % GDP, % of total spending)
Retail Sector Forecast: Breakdown of Food, Non Alcoholic Drink, Alcohol, Tobacco, Clothing, Footwear, Household Goods, Furnishings, Appliances, Glass and Tableware, Household Textiles, Consumer Electronics, Garden Toys and Pets, Home and Garden tools, Personal Care, Personal Effects Spending (US$bn, % Growth);
Household Income and Numbers Forecast: Number of Households (?000,% growth); gross income per household and per capita; net income per household and per capita; tax and social contributions per capita; breakdown of household incomes ? US$5000+, US$10,000+ US$50000+ (?000, % of total); labour force, employment and unemployment (?000, % change)
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