Egypt’s Retail Sector Shows Growth Potential

Since Egypt’s return to the Global Retail Development Index (GRDI) in 2016, following its post-2011 downturn, the country has quickly climbed the ranks, as a combination of government reforms, a young population, and technological adoption, is drawing interest from investors.

From 2016 to 2021, retail sales in Egypt doubled to USD 200 billion (EGP 9.66 trillion) and reached USD 303 billion (EGP 14.64 trillion) by 2023. Retail sector data also indicates a sharp rise in digital transactions from 2021 to 2023, with mobile wallet payments increasing by 325 percent and point-of-sale transactions up by 71 percent.

The report attributes this growth to Egypt’s shifting demographics and the rising adoption of digital technologies among consumers. The swift adoption of electronic payments and digital services, driven by e-commerce platforms like Amazon, Noon, and Jumia, has positioned Egypt as a significant player in the region’s digital economy.