The local retailers are expanding their boundaries to compete with their larger foreign competitors. Inseven Pakistani brands were nominated for the first time for the World Retail Awards held in Paris, in which three brands were shortlisted.
The retail sector of Pakistan has flourished a lot since the last decade and has established itself as the second largest sector in the country.
It not only operates in the big cities of Pakistan but has also captured the smaller urban centers and towns. Not only the local retail groups have benefited form this market, and have established their businesses into proper brands, but the global brands have also opened their outlets here.
All the big cities of Pakistan now have big malls and supermarkets which provide a platform to the different merchandises and the international brands to deliver under one roof. The reason behind this, as stated by the State Bank of Pakistan, is an increase in the middle class.
According to International Financial Firm, Pakistan is one of the top ten emerging economies mainly because of its retail sector. Foreign brands have given Pakistan a visible appearance in the global retail sector.
Pakistan now holds many fast food chains, home delivery services and suppliers which supply quality meat and poultry.
A study has shown that now the retailers are more interested in investing in the online sector as it is going to be very beneficial in the years to come. This advancement in the retail sector has not only benefited the industry but has helped people to reach the global market easily.
The biggest event of Ecommerce was introduced by Daraz, an online shopping store, in The event is named as black Friday which has now become a trend.
During this event, Daraz and kaymu surpassed 1 Billion rupees. Now this concept of Black Friday is followed by every brand, present in the country, both at outlets and on online stores.
Pakistan is expected to see a boom in e-commerce in the next five years. This represents a huge opportunity for both start-ups and investors. Today, there are huge number of department stores in the major cities meaning that there is not enough space for the foreign brands to operate in the market.
The international brands are also facing the problem of the replica products as, within a week.
Usually within a week, replica product is introduced in the market which is same as original. Above all, law and regulation remain a major problem in the main cities of the country. The government of Pakistan needs to take major steps to improve the security situation.
Thus, the key decision of Pakistani operators and the professional activity of the national and the international companies, operating in the country, will determine the direction of future growth in the retail sector.KARACHI: Pakistan’s burgeoning youth and their freewheeling attitude toward rising incomes have turned the nation into the world’s fastest growing retail market.
Retail Sector: Sector Overview: The Pakistani retails industry is one of the least concentrated in the world as there are few major chains, low rates of car ownerships, home registration, purchasing power and relatively small number of modern retail formats mean the most Pakistanis shop daily at small neighborhood mom-and-pop specialty .
With the induction of global brands and outlets, Pakistan’s retail sector at present witnessing a booming and impressive growth.
The real magic behind the Holy Grail of retail business in Pakistan is the exponentially growing population. According to some, the country offers the largest untapped, homogenous and middle-class. PAKISTAN’S RETAIL INDUSTRY AN OVERVIEW RETAIL FORMATS IN PAKISTAN 1.
SMALL RETAILERS 2. SUPERMARKETS AND WHOLESALE CENTERS A particularly encouraging aspect about Pakistan’s growth is the heavy contribution of the services sector during recent years. This paper reviews changes which occurred over the last decade in the retail sector in urban Pakistan, in terms of a decrease in traditional ‘kiryana’ stores, an increase in general stores.