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This equals to about 1.7 thousand U.S. dollars per capita in … - Discount Stores: offer a huge range of products to the end-users but at a discounted rate. [195 pages Report] Chatbots market size, analysis, trends, & forecasts. The Pakistani companies that took part in the exhibitions included Mehran Food, Niraav Foods, Dawood Textiles, Softwood Textiles, Golden Pearl Cosmetics, Crosswear, Unique Trader and Best Clean Textiles. Pakistan is mirroring what India went through about four years ago. Remote is the new normal. A majority of consumers seek quality products in adequate quantities under one roof. Example: Factory Outlets of Levis, Fifth Avenue. - Specialty Stores: These specialize in a particular product and would not sell anything else apart from the specific range. The local retailers are expanding their boundaries to compete with their larger foreign competitors. Consumers can get almost all the products they aspire to shop at one place only. It serves as a one-stop shopping destination for customers to buy merchandise like bakery products, cereals, meat, fish, medicines, bread, vegetables, fruits, soft drinks, frozen food and canned food/juices. Last year, South Africa imported goods worth $290 million from Pakistan while its total imports were $85 billion. Often people think of retailing only as the sale of products in stores, but retailing also involves the sale of services such as overnight lodging in a motel, a doctor’s exam, a haircut, a DVD rental, or a home-delivered pizza. For many Pakistanis, a visit to modern retail, hyperstar market and wholesale centres has become a pleasant family outing. Pakistan is an emerging market where the size of the retail market is estimated around $42 billion, growing faster than the economy at a rate of 5.3%. Consumers are less price sensitive compared to previous times, while they have become more aware of the brands and cost-effectiveness of the products. - Independent retailers aggressively compete with modern grocery retailers: Pakistan’s modern grocery retailers such as Hyperstar, Metro, MCC and Imtiaz represent a potential threat to independent players as due to their wide ranges of grocery and non-grocery products at attractive prices. Pakistan still lacks a skilled labor, trained, qualified and experienced manpower in its retail market. Planet Retail, a global retail forecasting firm in its recent report, has calculated the country’s retail market size to be around $152 billion with an annual growth rate of 8%. 5 Pakistan Mobile Payment in Retail Shopping: Market Size and Forecast by Key Segments, 2016 – 2025 5.1 Market Share Analysis in Retail Shopping Segment by Payment Instrument 5.2 Mobile Payment in Retail Shopping: Market Size and Forecast by Transaction Value, 2016 – 2025 With an estimated size of the retail market at around $50 billion, the country’s retail sector is growing faster than its economy. Report is to depict the trends and upcoming for the Pakistan Cosmetics Market industry over the forecast years. The retail market size in India was expected to amount to 1.7 trillion U.S. dollars by 2026, up from 950 billion dollars in 2018. With a rise in disposable income, especially in the middle class, this sector is now flourishing even outside of Pakistan’s mega cities. Consumer needs are becoming more individualized and diverse along with the rising middle class in Pakistan, driven by the notable increase in household income. They can place their order through internet, pay with the help of debit or credit cards/or avail the Cash-On-Delivery service and the products are delivered at their homes only. Departmental stores provide a wide range of options to the consumers and thus fulfill all their shopping needs. More than 1,100 exhibitors from 43 countries participated in these exhibitions in Sub-Saharan Africa. The country’s retail market size is currently estimated to be around $152 billion with an annual growth rate of eight per cent, according to Planet Retail, a global retail forecasting firm. The sector is not patronized by the government it should be. The retail stores and shopping malls have become very attractive to the consumers in Pakistan. This will give rise to an era of multi-format retailing – an inevitable future trend of the industry. - Multi format retailing: With consumer business taking a more important role in driving economic growth, in the next five years the retail industry will come into an era which opportunities and challenges coexist. There are approximately 2 million retail outlets in the country. The lack of concrete and reliable data does not allow foreign companies in Pakistan, to formulate ‘fact-based’ plans for product availability and to roll out trade incentives. The sector in Pakistan can be broadly classified as; Local trade such as Agha’s, Naheed, Imtiaz, Best way, HKB, MCC etc. The retail sector has an immense contribution in the overall economic activity of the country. There is a need for the industry to improve the quality of its products. The size of the store would not be very big and depends on the land available to the owner. South Africa, a gateway to Africa, is the largest trading partner of Pakistan in the African continent of 54 countries. According to statistics from the Pakistan Bureau of Statistics for the years 2011-12, the retail sector is worth $4.2 Billion, which represents around 18% of GDP. Trends in the country’s retail industry are quite encouraging, as far as the development of new retail formats and the establishment of a large number of global chains’ retail outlets all across the country is concerned. These traditional grocery retailers performed well during the review period in spite of their old-fashioned facilities and basic approach to business, which is in fact strength for traditional grocery retailers due the deep roots of these retailers in the social fabric and financial mind-set of Pakistani people. Otherwise, they would probably go with their usual, favourite brand. The bulk of FMCG business comes from these 'kiryana' stores due to large numbers, location (proximity to shoppers), convenience and long business hours. There is considerable opportunity for disruption in Pakistan’s retail market, a discerning observer might conclude. They own the canvas where consumers shop. Many local brands have expanded and gone global by adopting fast-changing trends. But still there is long way to go and some key initiatives by the government and entrepreneurs need to be taken to meet the future challenges confronting retailing industry in Pakistan. The retail e-commerce market has the greatest revenue generating potential within the entire e-commerce sector. The sector could possibly be a huge job creator, and attracting foreign investment into Pakistan, attracting global brands to the local market. The local chains or brands should arrange trainings of the work force on regular basis. Originally, private brands’ packaging designs were poor, which – rather than reflecting lower prices – actually made consumers suspicious about product quality. The Pakistani apparel retail industry had total revenues of $9.1bn in 2018, representing a compound annual growth rate (CAGR) of 5.9% between 2014 and 2018. Retail e-commerce. Pakistan’s retail sector has embarked on a growth trajectory that can predict the industry becoming a major hub for growing businesses. Pakistan consumer goods and retail service offers analysis, data and forecasts from The EIU to support industry executives' decision-making With an estimated size of the retail market at around $50 billion, the country’s retail sector is growing faster than its economy. The economic downturn prompted many consumers to try private label goods for the first time, and once they did so, they discovered that not only was the pricing right, but the quality of the goods met or exceeded expectations. Pakistan, in millions, 2017 Such outlets are generally owned by a single individual and managed by him alone or with some help from his family members. Another report by the Express Tribune suggests that the retail sector in Pakistan is booming because of women whose participation in the formal labour force has gone up from 16.3% in fiscal year 2000 to just over 24.4% in 2011. In order to compete with these increasingly popular outlets, local rivals have begun to engage in aggressive advertising campaigns using both electronic and print media. COVID-19 impact on Chatbot Industry. Get Reports. Africa ranks highly in terms of international business interest as research proves that seven out of top 10 fastest growing economies of the world are in Africa. Not all retailing is done in stores. Customer Support. All that is needed is skilled labour, education, training and a retail body to promote the sector and engage the government - joining hands with stakeholders to create a platform to address local issues and to present Pakistan at global platforms in future. The Retail landscape in Pakistan, with a population of 196 million, is constantly evolving and transforming in its dynamism, as consumer lifestyles keep changing with growing consumerism in the country. The success and strength of this industry is ... Market potential Market size Growing GDPs Increasing purchasing parity The menswear segment was the industry's most lucrative in 2018, with total revenues of $4.6bn, equivalent to 50.4% of the industry's overall value. Quality shopping has led consumers towards modern retail shopping options. Its three biggest malls, Lucky One in Karachi and Packages Mall and Emporium Mall in Lahore, opened in the past two years. A major challenge is the counter sale outlet phenomenon to trade marketers who find it extremely difficult to implement various sales promotion tools like shoppers’ messaging and category management. About two third of FMCG outlets consist of neighbourhood 'kiryana' stores, commonly called general stores, which sell multiple brand grocery items of daily use. -Hypermarkets value sales growth rate outgrow traditional grocery retailers: In terms of actual sales, traditional grocery retailers continued to dominate grocery retailing in 2013. Industries. - Warehouse Stores: A retail format which sells limited stock in bulk at a discounted rate. This kind of shopping is convenient for those who have a hectic schedule and are reluctant to go to retail outlets. Pakistan is world’s fastest growing retail market: Bloomberg April 10, 2018, 4:58 pm April 10, 2018 1012 The market is predicted to expand 8.2 percent per annum through 2016-2021 as disposable income has doubled since 2010, according to research group Euromonitor International. Based on a research by Euromonitor, the report also identified Pakistan as the world’s fastest growing retail market, predicting an annual expansion of 8.2% throughout the period ending 2021 with the retail stores to increase by a half to one million during the period. The total retail spending in Pakistan was forecasted at 210 billion U.S. dollars for 2018. Pakistan’s inclusion in the MSCI Inc.’s emerging-market indexes has come under a cloud as the nation’s stocks fall below the market-size threshold. With the entry of giant global retailer, the process of retail modernization may accelerate in the country. Pakistan has an unorganized retail sector. It is read widely both nationally and internationally for its coverage of various topics and investigative reporting by the business community, members of the Karachi, Lahore and Islamabad stock exchanges, members of different chambers of commerce and industry, governments officials, professionals, bankers, students and is also subscribed by major libraries around the world. (PAGE) is the leading weekly financial magazine of the country for nearly 40 years. Last year, nine Pakistani companies participated in the Southern African International Trade Exhibition for Retail Products and Africa Big Seven. With the induction of global brands and outlets, Pakistan’s retail sector at present witnessing a booming and impressive growth. To provide an edge to the fast-moving consumer goods (FMCG) market in Pakistan, Nielsen recently completed digital mapping of 674,980 FMCG retail outlets in the country, an enhancement to Nielsen’s previous retail census projects. But still there is long way to go and some key initiatives by the government and entrepreneurs need to be taken to meet the future challenges confronting retailing industry in Pakistan. Retail Industry 2020 - Pakistan Market Research & Statistics. - E Retailers: Customers can now enjoy shopping while sitting at home. Modern grocery retailers, meanwhile, also experienced healthy growth during the forecast period as the channel moved into less densely populated areas. A retail body should be established to promote the sector and the government should facilitate its growth by taking initiative to streamline the retail sector. The target of the exhibitions was the retail sector with focus on importers, agents, distributors and wholesalers. They do not offer high-end products and they would carry merchandise like: eggs, bread, stationery, toys, cigarettes, cereals, pulses, milk and medicines. The retail body must conduct the training of man power and help clearing supply chain issues and other related problems. They generally offer a limited range and the quality in certain cases might be a little inferior as compared to that of department stores. Online Retail in Pakistan industry profile provides top-line qualitative and quantitative summary information including: market size (value 2014-18, and forecast to 2023). Pakistani exports to African countries have witnessed a steady growth over the years. according to one estimate, the organized retail penetration is around 5% in the country. There was a strong upsurge in demand for cough, cold and allergy (hay fever) remedies in the first quarter of 2020 at the peak of the pandemic. - Traditional grocery retailers continue to dominate retailing: This is due to the extremely high number of retail outlets in the country, with hundreds of thousands of small independent grocery retailers in operation. Nov 2020. The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. The change is more apparent in the urban centres where the hypermarkets or supercenters are heavily concentrated in metropolitan cities: Lahore and Karachi. - Private label development: Retailers have an advantage over national brands. Monitor the impact on your business. Modern grocery retailers offer a wide range of brands at competitive prices in order to attract both affluent and middle-class Pakistani consumers. Out of these retail outlets, nearly 800,000 outlets represent FMCG channels including 'kiryana' stores (mom & pop), 'pan' shops (kiosks selling betel leaves and cigarettes), department stores, medical-cum-general stores and the like. It is an advanced form of the small grocery stores and caters to the household needs of the consumer. The retail industry contributes more than 12% to the global economy and employs more than 14% of the World labor (World Economy 2011). Market Research and Statistics on Pakistan. Reasons for implementing multi-format retailing strategy would include: meeting the diversified needs of consumers, reducing competition pressure and diversifying operating risks and achieving differentiated competition. Through programs such as Skype, WhatsApp and FaceTime, customers have …. It is the biggest economy in Africa with a gross domestic product of $390 billion and total trade of $190 billion. Pakistan rubber tyre market size was valued at $272.10 million in 2017, and is projected to reach $1,592.90 million by 2025, registering a CAGR of 24.8% from 2018 to 2025. - Mom and Pop Store (Kiryana Stores): These are the small stores run by individuals in the nearby locality/neighbourhood to cater to daily needs of the consumers staying in the vicinity. Their merchandise may include: Electronic Appliances, Apparel, Jewellery, Toiletries, Cosmetics, Footwear, Sportswear, Toys, Books, CDs, DVDs. Example: Khaadi, Junaid Jamshed, & Out Fitters. © Copyright 2020, Pakistan & Gulf Economist ® All Rights Reserved. Apart from its market size one of the cultural reasons for this is that in Lahore dining out is more of a preferred experience whereas in Karachi ordering in is far more widely accepted. The global market for chatbots segmented by solutions, services, usage, technology, application, vertical, and region. Syed Fazl-E-Haider February 19, 2018 Cover Stories, Economy 6,806 Views. - Supermarkets: A retail store, which generally sells food products and household items, properly placed and arranged in specific departments. Local retailers need grooming and training to represent Pakistan at global platforms. The key decision by Pakistani entrepreneurs and professional working for national and multinational companies operating in the country will decide direction of the future growth of retailing industry. The government should collect proper data of total number of retail outlets in the country, as retailers avoid disclosing about their sales due to taxation issues. Digital Marketing The Key to Improve FMCG…. Examples: Daraz, Kaymu, TCS Connect, OLX and ShopDaily. Specialty stores sell only selective items of one particular brand to the consumers and primarily focus on high customer satisfaction. New global chains of grocery and life style stores are likely to enter in the country’s market in future. The retailing in Pakistan is going to be shaped in coming years on global retail format. Who are the top 10 egg producers of Asia? Traditional trade such as Kiryana stores, neighbourhood stores, Jodia Bazaar etc. Great attention should be paid on the format of retailing in Pakistan. In 2013, seven Pakistani brands were nominated for the first time for the World Retail Awards held in Paris, in which three brands were shortlisted. Pakistan Cosmetics Market report data has been gathered from industry specialists/experts. Customers no longer view private label/store label as a trade-down and, more often, see private label as just another branded option8. Although the market size of the market is studied and predicted from 2020 to 2027 mulling over 2019 as the base year of the market study. The country has witnessed the mushroom growth of more and more malls, restaurants, sport complexes, multiplex cinemas, and a large number of shops in big cities. These stores do not bother much about the interiors of the store and the products are not properly displayed. Pakistan whose retail potential is expected to be $42 billion. The traditional segment is largest in terms of trade. Grocery stores include Meat One and K & N’s (specializing in meat and chicken respectively), Simply Sufi and other neighbourhood stores that offer convenience and availability of grocery and dairy items. What are the constraints that hamper the country to keep up the momentum of its growing retail market? Pakistan is an emerging market where the size of the retail market is estimated around $42 billion, growing faster than the economy at a rate of 5.3%. In future, Kiryana stores in Pakistan is likely to exist but their growth will retard because of their unorganized retail format. Research studies show that in Pakistan’s mega cities a majority of households with larger family sizes shop at general stores, while those with smaller family sizes shop at large supermarkets. Example: Chase & ChenOne. Though retailers have existed in Pakistan for a long time, the induction of global brands and outlets has really kick-started the sector, forcing local retailers to expand their boundaries to compete with their larger international competitors. - Other retail channels: include 'pan (Beatle Leaves)’ shops, petro marts, department stores, medical-cum-general stores, book shops, road side eateries and other specialty shops. Footwear market size was valued at $365.5 billion in 2020, and is estimated to reach $530.3 billion by 2027 with a CAGR of 5.5%. They offer selected items and are not at all organized. Kiryana stores channel is likely to adopt some of basic techniques of organized retail format. Regardless of the pace of economic recovery, retailers continue to have a tremendous opportunity to convert shoppers to private label for the long term. 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The key features include store profiling, mobile data collection and output delivery via web and mobile platforms. Example: Poonam Rice of Imtiaz and Metro’s ‘OK and Fine Food Brands’. At $1 billion, however, the size of Pakistan’s e-commerce market will still be tiny. If they listen, they can lead the shoppers to a better experience and lay the foundation to build a true store brand! - Convenience stores: Examples include Shell Select and Stop Shop at Pakistan State Oil (PSO) stations that offer customers easy access and convenience – an easy stop-and-shop solution while you wait to get fuel for your car. Tyres are one of the essential components in automobiles as they aid in transferring the load of the vehicle from the axle to the ground. Example: Imtiaz, Naheed, Farid’s, Agha’s, & Al-Fateh. This was the move to encourage demand for Pakistani products under the auspices of the Trade Development Authority of Pakistan (TDAP). Further classification of local trade, traditional trade, and international modern trade is given below: - Departmental Stores: offer a wide range of products to the end-users under one roof. According to a research study conducted by Standard Chartered Bank last year, between 2011 and 2015, the size of the retail pie in Pakistan jumped from $96 to … Pakistan, 2016-2021f Internet Users, in Selected Countries in Asia, incl. Cough, Cold and Allergy (Hay Fever) Remedies in Pakistan. Talk to Sam +1 718 303 2384. Retail Sales CAGR, in %, by Selected Fast-Growing Markets Worldwide, incl. The retail market is mature and highly competitive in the developed economies of Europe and North America. Today, we find in our cities big shopping malls and hypermarkets and small and medium scale outlets providing which various different categories of products under one roof. Pakistan’s retail stores are expected to increase by 50 percent to 1 million outlets in the five years through 2021, Euromonitor said. Retailers such as Gul Ahmed, Junaid Jamshed and Sana Safinaz, among others, also use billboards in major cities such as Karachi, Lahore and Islamabad, also extending their marketing campaigns to smaller cities such as Gujranwala, Faisalabad, Multan and Rahim yar Khan. Examples of non-store retailing in Pakistan include Internet sales of clothing on Daraz.pk, the direct sales of cosmetics by Color Studio at malls, DVD rentals at neighbourhood stores. Pakistan Mobile Wallet and Payment Market Opportunities (Databook Series) - Market Size and Forecast across 45+ Market Segments in Mobile Commerce, International Remittance, P2P transfer, Bill Payment, Retail Spend, Consumer Attitude & Behaviour, and Market Risk They are manufactured using materials such as fabric, wire, carbon black, natural and synthetic rubber, and other chemical compounds. Apparel Retail in Pakistan Summary Apparel Retail in Pakistan industry profile provides top-line qualitative and quantitative summary information including: market size (value 2014-18, and forecast to 2023). Several changes will take place, while industry players are trying to establish their core competence in the market with diverse consumer tastes and intense competition. Last 3 Years (169) Last 2 Years (148) Last Year (119) Last 6 Months (50) Last 3 Months (39) Last Month (20) Last 2 Weeks (7) Retailing is the set of business activities that adds value to the products and services sold to consumers for their personal or family use. There are inherent limitations which include lack of economies due to small scale operations, lower level of functional expertise and lack of financial strength. International Modern Trade (IMT) such as Metro, Hyperstar, Green Valley etc. The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Retail; Publication dates. Pakistan textile industry is currently facing several challenges. Textile Mills Association is the chief organization that determines the rules and regulations in the Pakistan textile industry. Such limitations negatively impact the ability of unorganized sector to display its products. The competition between global retail outlets and local department stores will intensify in future. Local retailers must develop a vision and do their business with a vision. Household size and income have a decisive influence over shopping decisions. Besides the rapid-pace evolution of local brands, the fast-growing middle class has also attracted the interest of … Retail and wholesale sector grew by 5.2% compared to previous year, reaching a worth of PKR 4.36 trillion 1 , which represents around 18.2% of GDP in 2013-14, according to Pakistan Economic Survey (2013-14). Example: Chase Up, MCC etc. The existing chain of local and national retail outlets will continue to expand their network in other urban centers across the country. This is also necessary to broaden tax net and document the national economy. Discover the latest market trends and uncover sources of future market growth for the Retailing industry in Pakistan with research from Euromonitor's team of in-country analysts. The Pakistan tyre market reached a consumption volume of 21.9 Million Units in 2019. In relative terms too, both India and China outpace Pakistan with e-commerce sales as a percentage of country retail sales being 1.85% and 21.19%, respectively, compared to Pakistan’s 0.34%. However, value growth in modern grocery retailers outpaced growth in traditional grocery retailers over the entire review period due to rising income levels, a sense of modernization, the need for greater convenience in terms of one-stop shopping and heavy marketing campaigns by Pakistan’s leading hypermarkets. The retail body must ask quality institutions to arrange local training workshops on retail sector. A report by Deloitte and Planet Retail included Pakistan in one of the top ten emerging economies with huge potential for growth of retail sector on the basis of first mover advantage by one or few retail players in the market, product offer & availability, financial credit, regional expansion and multi-format strategy. , Kaymu, TCS Connect, OLX and ShopDaily advantage over national.... 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