A newly released Qatar 2023 events calendar is projected to bolster sales growth this year, particularly in hypermarkets, according to estimates of local stakeholders.
For instance, high-profile events like the Geneva International Motor Show, AFC Asian Cup, Formula 1 and Expo 2023 Doha are expected to draw many foreign shoppers to the country.
LuLu Group International regional manager, Shanavas P M, said that in anticipation of Qatar’s economic boom in the coming period and a cornucopia of upcoming events, the conglomerate launched several stores across Qatar last year.
“We are optimistic that we would be able to achieve positive growth in 2023,” Mr Shanavas told Gulf Times.
“Our sales in the metro stations were ‘superb’, especially when fans trooped to the stadiums to watch the matches.”
According to the QOC, Qatar will be hosting 81 events in total, including 14 major international tournaments in 2023—all are potential money-spinners for the country.
Likewise, Safari Mall procurement manager, Rajesh Nair, concurred that Qatar’s events in the pipeline for this year will immensely benefit the 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,” said Mr Nair.
The influx of tourists during the Qatar Fifa World Cup in December last year had a tremendous impact on sales in Qatar’s retail sector, prompting many stores to swiftly expand operations to cater to surging and diversified customer demand.
“Our sales in the metro stations were ‘superb’, especially when fans trooped to the stadiums to watch the matches,” said Mr Shanavas said.
Mr Nair also said the arrival of the sporting events’ fans helped push sales during the tournament. On a side done, they pushed demand for a vast array of World Cup merchandise and goods like perfumes, especially before they headed home from 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.
In the afterglow of Fifa World Cup, Qatar is expected to welcome 6.24 million tourists in 2028, according to travel industry new outlet Connectingtravel.com.