Lulu Group announces massive investment in retail network at theRetailME Tech and Marcom Summit
Images RetailME Tech and Marcom Summit features 45 speakers and more than 200 delegates who discussed the digital transformation of the retail industry during the day-long technology and innovation focused conference
Date: Dubai, UAE; June 28, 2022
News Highlights:
- Lulu Group announces the investment to the tune of Dh10.6 billion in four years with 91 new hypermarkets and stores in four years, from 2020 to 2023;
- The global retail sales revenue will grow from US$26 trillion in 2021 to more than US$30 trillion in 2024 – which is equivalent to a third of the global economy;
- The total e-commerce market size in the region is expected to reach US$49 billion in 2025, surging from US$31.7 billion last year;
- A report released by the Dubai Chamber of Commerce and Industry has projected the UAE’s retail sales to reach $70.5 billion (Dh259 billion) by 2025 — an annual growth of 6.6 percent.
UAE News 24/7 