Egypt's retail market is back in business

Largely recovered from the political and economic instability of 2011 and 2012, Egypt is back to enjoying a fast-growing economy, according to A.T. Kearney's 'Egypt's retail market (cautiously) Back in Business' report. The face of the retail market in particular is changing, with the discounter segment growing rapidly as the industry steadily shifts away from traditional retail towards modern trade. Forward-thinking investors have been able to find their footing in a country that is now back on solid ground.

Egypt is an emerging market with an expanding population predicted to reach 100 million by 2020, with nearly half located in urban areas and highly sensitive customer price points. This has created a demand for discount offerings catering for the demand for retail products in the low to medium price bandwidth. The discounter segment will see up to 47 percent annual growth in the coming 3 years.

Commenting on the report findings, Shamail Siddiqi, Principal, A.T. Kearney, said: "Overall the Egyptian retail sector has always been a key facet of the economy. By meeting the demands of a growing population it has remained largely intact despite several adversities in the macro landscape. Egypt's retail market is set to further transform over the next decade. First and foremost we see the discount segment at the forefront of this transformation driven by the current socio-economic situation."