Positive growth was seen in retail in 2022 as shopping in malls remained a popular pastime among Kuwaitis. However, e-commerce boomed during the year as investment in tech start-ups brought more convenience to consumers.
The dominance of modern retailing systems remained the defining feature of Kuwait’s retail industry during 2022 as the leading chained players across all categories registered further growth and development. The main factor underpinning growth across the industry was rising consumer spending as positive economic growth and development in Kuwait and across the GCC region due to very high demand for LNG exports in Europe within the context of the Ukraine conflict and trade sanctions on Russia ensured that the GCC avoided the high inflation and adverse economic situation seen elsewhere in the world during the year.
Informal retailing is not very common in Kuwait, owing to most consumers having enough money to buy via formal retailing and because there is provision for subsidised food. However, there are a few areas around the country where informal retailers are permitted to operate.
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Understand the latest market trends and future growth opportunities for the Retailing industry in Kuwait with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
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Retail is the sale of new and used goods to consumers from a business for personal or household consumption from retail outlets, kiosks, market stalls, vending, direct selling and e-commerce. Retail is the aggregation of Retail Offline and Retail E-Commerce. Excludes specialist retailers of motor vehicles, motorcycles, vehicle parts. Also excludes fuel sales, foodservice sales, rental transactions, and wholesale sales (e.g. Cash and Carry). Sales value excluding or including VAT/Sales Tax. Retail also excludes the informal retail sector. Informal retailing is retail trade which is not declared to the tax authorities. Informal retailing encompasses (a) sales generated by unregistered and unlicensed retailers, i.e. retailers operating illegally, and (b) any proportion of sales generated by a registered and licensed retailer that is not declared to the tax authorities. Unregistered and unlicensed retailers operate predominantly (although not exclusively) as street hawkers or operate open market stalls, as these channels are harder for the authorities to monitor than permanent outlets. Activities in the illegal market, which is usually understood to refer to trade in illegal, counterfeit or stolen merchandise, are included within our definition of informal retailing. Activities in the “grey market”, which is usually understood to refer to trade in legal merchandise that is sold through unauthorized channels – for example cigarettes bought legally in another country, legally imported, but sold at lower prices than in authorized channels – will be included as informal retailing if no tax is paid on sale by the retailer. However if the retailer pays tax – for example on cigarettes bought legally in another country but sold at a lower price than standard – the sale is included within formal retail.See All of Our Definitions
This report originates from Passport, our Retailing research and analysis database.
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