Owing to a full calendar of events announced by authorities in Qatar this year, stakeholders in the local retail sector, particularly hypermarkets, are projecting robust sales growth for 2023, it is learnt.
Only recently, Qatar Tourism and the Qatar Olympic Committee (QOC) announced their respective calendar of events for this year. Events like the Geneva International Motor Show, AFC Asian Cup, Formula 1, and Expo 2023 Doha are expected to draw many tourists to the country.
Similarly, sports events lined up this year will also attract many fans and visitors. According to the QOC, Qatar will be hosting 81 events, including 14 major international tournaments in 2023.
LuLu Group International regional manager Shanavas P M noted that in anticipation of Qatar’s economic growth in the coming period, LuLu opened several stores across Qatar last year, bringing the hypermarket chain’s total number of branches to 22.
“We are optimistic that we would be able to achieve positive growth in 2023,” Shanavas told Gulf Times Saturday.
Similarly, Safari Mall procurement manager Rajesh Nair also said Qatar’s full calendar events lined up for this year will push growth in the local retail industry.
“Qatar has announced a lot of events for 2023, so we are expecting good growth in our sales because of this. To cater to the increasing demand of our customers, we opened new malls in Al Wakra and in the Industrial Area,” Nair noted.
The influx of tourists and visitors during the FIFA World Cup in December last year had a positive impact on sales in Qatar’s retail sector, prompting many stores to expand operations to cater to customer demand.
“Our sales in the metro stations were ‘superb’, especially when fans trooped to the stadiums to watch the matches,” Shanavas said, citing LuLu’s three temporary convenience stores in the Lusail QNB, National Museum, and Ras Bu Abboud metro stations.
Shanavas said World Cup fans mostly bought snacks, beverages, and other food items from LuLu hypermarkets. Shortly before the inaugural kick-off, LuLu Group chairman Yusufali M A led the official opening of Barwa Madinatna in Al Wakra, which catered to the needs of tourists and other visitors living in the Fan Zone, as well as residents of the community and adjacent areas.
Nair also said the arrival of FIFA World Cup fans helped push sales during the tournament. But they also pushed demand for a wide range of World Cup-related souvenir items and other goods like perfumes, especially before they left Qatar after the matches.
“Aside from official FIFA World Cup Qatar 2022 products, which were sold out, we experienced excellent sales for souvenir products, such as ‘I Love Qatar’ shirts, small figurines and statues, magnets, and key chains, among other similar items from the fans,” he said.
