Doha, Qatar: Qatar’s retail industry continues to witness a rise in demand, backed by several factors including outperforming revenue and sales and rapid economic development.

Mart owners across the country noted an upward trajectory for sales during the first five months of the year and expressed optimism for the second half of 2024.

Iqbal Hussein, a business owner at a residential mart in the Al Waab area told The Peninsula that “Sales have gone past our market expectations for the year and we are seeing a tremendous year so far.”

He lauded the initiatives by the government and boosted the job sector, paving the way for many to reside in affordable areas such as Al Waab.

Another retail employee, Rashid K, stressed the importance of numerous events happening in the country, enabling numerous individuals to opt for Qatar as a preferred choice of destination to stay and work.

“I think the FIFA 2022 World Cup enabled Qatar to be on the global map for tourism, businesses, and investments. Loads of people that come to our shop now are new arrivals. They were drawn towards the numerous possibilities Qatar offers,” Rashid said.

Several reports mention the robust retail market growth in 2024. As per Statista, the Retail Delivery market in Qatar is estimated to have a compound annual growth rate of 13.72 percent until the next 5 years, expecting a revenue of $1.22bn in 2024. This also indicates that the market volume is forecasted to amount to $2.32bn by 2029.

However, Statista says that the number of users in the retail delivery market is projected to reach at least 1 million users by 2029.

On the other hand, the user penetration rate will grow steadily from 25.9 percent this year to 35.8 percent by 2029, the report says.

Market experts also believe that the average revenue per user (ARPU) is estimated to be $1.71k. As compared to countries including the United States, the market is expected to have the highest user penetration rate, reaching 30.4 percent in Qatar.

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