2020 has brought unprecedented challenges to the UAE retail landscape, a market highly vulnerable to the economic disruptions caused by the COVID-19 pandemic given the high proportion of GDP fuelled by retail, transport and hospitality. Dubai stands out as one of the most diversified economies of the GCC and it relies very heavily on tourism...
Retailing in Saudi Arabia was hit hard in 2020 as a result of the COVID-19 pandemic, which resulted in a major slowdown of economic activity due to the government-imposed curfew and social distancing legislation. Also, the government raised value added tax (VAT) from 5% to 15% in July 2020. Retailing in Saudi Arabia report offers insight...
After a number of years of good value growth, retailing recorded a modest overall value decline during the Coronavirus (COVID-19) pandemic in 2020. The health crisis led to soaring unemployment rates in the country, with many businesses closing and a consequent steep reduction in consumer confidence and disposable incomes. Many Russians were...
The COVID-19 pandemic had an immediate and substantial impact on the German retailing landscape in 2020. Due to health considerations and government-imposed lockdowns affecting store-based retailing, consumer foodservice, entertainment and tourism, consumer purchasing behaviour and priorities quickly shifted. Retailing in Germany...
Relative to the rest of Western Europe – including its geographical neighbour the UK – Ireland has experienced a less significant economic impact from the COVID-19 pandemic. At the beginning of Q4 2020, OECD projections stated the country could experience a decline of 6.8% in GDP for the entire year. However, the contraction may be as high...
COVID-19 had a more significant economic impact on the UK than other Western European countries. In response to the pandemic, the UK Government imposed national lockdowns, which lasted for more than four months in 2020. The lockdowns not only had an impact on consumers’ lifestyles, and thus, their shopping habits, but also restricted the operations...
Soon after Canada confirmed the first COVID-19 case in late January 2020, many provinces started identifying cases and subsequently took control measures focused on inbound travellers. It was not until March when every Canadian province and territory had declared a state of emergency and, depending on local situation, imposed various degrees...
The Algerian economy was hit by a double whammy in 2020 – COVID-19 and plummeting oil prices. Algeria is highly dependent on oil exports and with prices falling, this led to a devaluation of the dinar and a general increase in inflation. This in turn led to lower disposable incomes. Tissue and Hygiene in Algeria report offers a comprehensive...
China’s demand for Retail has grown at a fast pace in the past decade. In the next decade, both production and demand will continue to grow. The Chinese economy maintains a high speed growth which has been stimulated by the consecutive increases of industrial output, import & export, consumer consumption and...
Retailing in Bolivia was first negatively affected by social and political conflict that occurred at the end of 2019. The effect of social unrest on the economy lingered and was aggravated significantly during 2020 due to the pandemic and the lockdown that followed. Unemployment rose sharply and consumer disposable incomes decreased. This...