GLOBAL RETAIL REOPENING, RECOVERING & REALIGNING TO A NEW REALITY

While keeping the seriousness of COVID-19 in mind, many governments are cautiously talking about their plans for ‘re-opening’ their economies. Retailers are looking ahead to the new reality of what life might look like after the initial acute phase of this pandemic passes…

UAE RETAIL MARKET SET TO GROW BY 0.4 PERCENT IN 2020 AS BRIEF LOCKDOWN PERIOD PROTECTS SPEND: GLOBALDATA

The United Arab Emirates is forecast to be the sixth best performing market in 2020 (of the 49 countries covered by GlobalData) with spend growth remaining in positive territory significantly helped by its short lockdown period of just two weeks for non-essential stores, says GlobalData, a leading data and analytics company.

Emily Salter, Retail Analyst at GlobalData, comments: “Although COVID-19 is set to wipe AED 13.5bn off the original 2020 forecast growth of 5.8 percent in the UAE, its wealthy population and brief lockdown period will mean the market holds up better than many of its MENA neighbours including Turkey and Israel. Additionally, the UAE will experience a faster recovery than most Western economies due to consumers’ greater propensity to spend on luxury items, although falling oil prices may have a longer term impact on domestic consumer wealth.”

Given lockdown restrictions for nonessential retailers were quickly lifted in the UAE shopping centres have started to reopen with many introducing measures that could be used a blueprint for others around the world that are considering how they can operate safely, once allowed.

AMAZON REOPENS NEARLY 50 PERCENT OF ITS STORES GLOBALLY

Apple has managed to reopen nearly 256 retail stores out of more than 500 worldwide, as it aims to safely restart operations. This means that nearly half of Apple retail stores now open globally

Apple closed all its retail stores outside Greater China in March as COVID-19 pandemic spread. All the Apple stores in Greater China are now open.