Mubasher: The UAE retail trade will likely continue growth this year by 6-11%, compared to 8% last year, said Emirates Society for Consumer Protection (ESCP).
Khalid Al Hosani, ESCP Chairman, said that the board of directors discussed in its first meeting for this year retail sector conditions as well as positives and challenges it faces.
He that the retail sector will likely see strong growth in 2016 compared to last year, pointing out that this increase will be driven by global decline in raw materials, goods and oil prices.
The availability of larger quantities of goods is accompanied by substantial demand from consumers who are increasing dramatically due to the UAE economy strength and population increase, Al Hosani said.
He predicted growth in special promotions among the major commercial centres and cooperative societies at the country level as most of these centres and societies entered into contracts during the second half of last year for supplying large quantities of goods for the current year at good prices.
