Home retailing is growing by the more development in the economy as this type of retailing include sale of big tickets, electric homeware, home, furniture, home improvement products, garden products and several others. Meanwhile, the retail market of home appliances is rising more significantly with the effective development in the economy and growing innovations. The retail segment of any country is growing more significantly and the retailers also doing significant job and playing efficient role in resulting this market more competitive and profitable. The retail market of home appliances gaining effective attention from the wealthier consumer as they are transforming their livelihood and moving from social media to e-commerce platform for buying or selling anything related to this. The key players are making effective strategies and most of the retailers are adoption even pricing method for increase their sales more significantly across the globe with the help of e-commerce platforms as anyone can operate any site or application through smart phone penetration which fuel the market growth in the near future.
According to the report analysis, ‘HOME RETAILING IN SAUDI ARABIA, MARKET SHAREA, SUMMARY AND FORECASTS TO 2022’ states that some of the major companies which are currently functioning in this domain more actively as the demand is growing with the smart phone penetration in this region includes IKEA, Saco, AL Aamer Furniture, Home Centre, Lifestyle, Panda, Gazzaz, Al Jedaie Furniture, Abyat, BHS and several other. The key players are analysis the various sector of this category for enhancing their sale strategies and policies for attaining the handsome amount of share with the growing development and population in the economy. Not only has this, the report also consist various sector of this market and aspect of the key players which includes a deep analysis of the upcoming and latest consumer trends, consumer insights, market dynamics, major retailers in home category group, market positioning in 2017 with the present and significant developments.
Home is the sixth largest sector of Saudi Arabia retail industry. During 2013-2015, the housing market resulted moderate sales due to falling in oil prices. Whereas, Saudi Arabia retail market is anticipated to increase at a CAGR of 7.3% during 2017-2022. Moreover, the homes are set to result a strong and effective growth which is majorly supported by a positive economic scenario which is rising more significantly with the living standard which is contributing to the growth of furniture and floor coverings. The sales to rise more strongly on the back of an enhancing housing market in Saudi Arabia whereas, the specialist stores are losing market share to department stores and online retail. Moreover, the growing penetration of internet in smart devices will lead the online sales to grow three times by 2022. Meanwhile, the IKEA is operating in the sector due to rising store networks and online sales.
The key players are doing effective development in the application of e-commerce platform as demand is growing with the internet penetration with the growing usage of smart phones for meet the demand of consumers more effectively. Therefore, in the coming years it is expected that the home retailing in Saudi Arabia will grow more significantly over the decades.
For more information on the research report, refer to below link:
Ankur Gupta, Head Marketing & Communications