Euromonitor International – a market research group – has revealed that Pakistan is currently the world’s fastest-growing retail market.
The research predicts that the market will keep expanding by 8.2% each year till 2021. The disposable income in Pakistan has increased since 2010. Euromonitor said that the size of the middle-class in Pakistan is expected to surpass UK and Italy in coming years.
Factors Driving the market
Pakistan’s improving security, cheap prices and commercial expansion (~5%) is the main factor driving customers to hit the markets.
Jinnah Institute’s research shows that almost two-thirds of the population is below 30 years of age. This is relevant because young people are focused more on spending than saving, Euromonitor says.
“We have a new millennial shopper at hand. They don’t mind spending to have the kind of lifestyle they would like,” said Shabori Das, senior research analyst at Euromonitor.
It’s not like the Baby Boomer generation where savings for the future generation was important.
E-commerce has played a major role in driving the numbers up. As Pakistani people became aware of its usage, they have been utilizing it a lot more than other countries because of the good prices and security.
The World’s Reaction
The growing market has been getting a lot of attention from foreign operators like Arcelik AS, a Turkish appliance maker, and Dutch dairy company, Royal FrieslandCampina NV. These companies entered Pakistan last year.
As we all know, automobile manufacturers were also attracted to this market and are already setting up plants and offices in Pakistan.
In the past two years, the biggest shopping malls of Pakistan were built such as Lucky One in Karachi, Packages Mall and Emporium Mall in Lahore. The retail store diversity is expected to increase by 50% to 1 million retail outlets in the next 5 years.
Ro imran Ro.
Hahaha
How it possible that patwari can read english ?
Well done Nawaz
Rest on the world is going for online shopping only PK and Cameron living in the old age
aap online krlo start
:/
Have you heard of daraz ?
Have you heard of daraz ?
Dum dum a large population of pakistanis including me have also started shopping online. But believe me online shopping is a waste of time when you can purchase something from local shop and bring it home with you in couple of hours. The product purchased online will take days to reach you.
Only purchase those items from online marketplaces if those are not available in your local markets. I have ordered couple of electronic products from aliexpress that are not yet available here. They will reach me in few weeks.
Credit should be given to government where it’s due. Weldone. These past 4 years government has been able to successfully lift a significant chunk of our population out poverty though still a long way to go. Gdp is predicted to grow @ 6%. Pakistan’s Gdp in terms of purchasing power parity has also crossed $1trillion. Moreover infrastructure of the country has been significantly improved. Factoring all these things I wouldn’t be surprised if this government elected again in 2018.
You won’t see this worst government ever again . I Know you’re paid worker of Nawaz Sharif but that isn’t going to elect this government again . PS : kill yourself
Good news for whole nation except PTI lols.
Great one !
RoImranRo
For all the nooray and patwari’s:
Agar ye Imran Khan na hota to tum ny zardari k sath wo he mufahmat ke siasat kar k awam ko L*** laga k bari lagaty rehna tha. Imran Khan ny zaleel kiye rakha to performance de hai warna tumhary Nawaz Sb bhe chor thy aur Zardari to tha he farig
Security situation is lot better bcuz ganja has been darbardhoos.
.Aur Lootne Main Bhi Sub Se Aghe
#RoImranRo
Look at the non-sense comments of PTIians. They are not even happy when a neutral report share a good and positive news about Pakistan’s progress only because they are anti government. There are always and everywhere political parties and people support them on their choice but they are at least equally happy and sad when there is good or bad news about the country. They are even not happy if someone talks the success of PSL or praise PCB only because that’s the success of government.