Dubai: The UAE’s retail sector is going through a period of rapid transformation as major investments in retail developments are made in the lead up to Expo 2020, while momentum behind the country’s e-commerce market continues to build, H.E. Majid Saif Al Ghurair, Chairman of Dubai Chamber of Commerce and Industry told business leaders at a gala dinner concluding the Retail Leader Circle (RLC) MENA 2018 in Dubai. Online retail activity in the UAE has recorded strong growth in recent years, he revealed, adding that this segment of the market is forecast to see an average growth rate of over 20% between 2018 and 2021.
H.E. Al Ghurair described the recent launch of the Retail Business Group as a positive development for the sector. The business group, established under the umbrella of Dubai Chamber, aims to promote cooperation Dubai’s leading retailers. He added that more companies in the sector are now focusing on investing in their digital presence and expanding their footprint in the region.
Dubai Chamber supported RLC MENA 2018 as a sponsor, and the organization has helped bring global retail events to Dubai in the past with the aim of showcasing Dubai’s potential as a preferred hub for local, regional and international retailers.