Retail in 2010

Most retailers in the UAE expect reasonable growth in 2010, according to a new survey. Almost a year ater the financila crisis hit Dubai and after having seen sales drop significantly, 94% of the retailers polled by Emirates Business said that the sector would grow in 2010. Of those, more than half of the retail giants questioned (55.5 percent), said the growth would be between five and 10 percent, the paper reported on Wednesday.

Almost 28 percent said they believed growth would be between 11-20 percent, and 11 percent said they were upbeat and put growth between 21-30 percent.Only five percent said they believed there would be no growth at all next year.

Read the Emirates Business 24-7 report here

"The financial crisis has not really had an adverse effect in the Middle East and other Gulf countries. We, being a homegrown brand, have done quite well as we cater mainly to the local population. As for the international brands, a huge portion of tourist population comprises its customer base and with the fall in tourism, the sales for international brands are bound to decline," - Mohamad Iqbal Yacoobali, General Manager, Shoe Mart.