{"id":16855,"date":"2022-03-10T18:07:09","date_gmt":"2022-03-10T18:07:09","guid":{"rendered":"https:\/\/www.meretailnews.com\/?p=16855"},"modified":"2022-08-10T17:43:27","modified_gmt":"2022-08-10T17:43:27","slug":"bindawood-reports-40-per-cent-brand-value-growth","status":"publish","type":"post","link":"https:\/\/www.meretailnews.com\/2022\/03\/10\/bindawood-reports-40-per-cent-brand-value-growth\/","title":{"rendered":"BinDawood reports 40 per cent brand value growth\u00a0\u00a0\u00a0"},"content":{"rendered":"<p><!-- VideographyWP Plugin Message: Automatic video embedding prevented by plugin options. --><br \/>\n<span data-contrast=\"auto\">BinDawood was named Saudi Arabia\u2019s fastest-growing retail brand in 2021 in Brand Finance Saudi Arabia 50 2022 ranking. <\/span><span data-contrast=\"auto\">\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The grocery retailer reported a 40 per cent growth in brand value from 2020 to 2021, totalling SAR476 million.<\/span><span data-contrast=\"auto\">\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">In the second half of 2021, BinDawood saw sales increase to reach pre-pandemic numbers.<\/span><span data-contrast=\"auto\">\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Stores in Makkah and Madinah saw a fivefold year-on-year improvement in sales with gradually increased footfall from pilgrims.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><span data-contrast=\"auto\">\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The retailer\u2019s gross profit in Q3 2021 was SAR397.3 million, an 11.5 per cent increase from SAR356.3 million in Q3 2020.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><span data-contrast=\"auto\">\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">This rise aligns with Saudi Arabia\u2019s 25 per cent year-on-year growth in point-of-sales transactions.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Finch Solution\u2019s 2022 report projected that this rise in transactions and consumers\u2019 increasing out-of-home activity will normalise the kingdom\u2019s retail industry as the impact of the pandemic fades.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><span data-contrast=\"auto\">\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Similarly, Euromonitor estimates a 20 per cent growth in Saudi Arabia\u2019s retail sector.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">With its recovery in sales, BinDawood plans to expand its presence in Riyadh by opening 10 stores over the next five years.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">In keeping with this aim and BinDawood\u2019s long-term objective to be the leading grocery retailer in the kingdom, BinDawood Holding acquired a 62 per stake in global e-commerce operator International Applications Trading Co.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Other grocery retailers whose brand value grew in 2021 include Panda \u2013 16 per cent to SAR2.3 billion \u2013 and Othaim Markets \u2013 25 per cent to SAR2.2 billion.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brand Finance Saudi Arabia report names BinDawood fastest-growing retail brand. <\/p>\n","protected":false},"author":39,"featured_media":16936,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1323,1],"tags":[3990,4012,3988,2683],"_links":{"self":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/16855"}],"collection":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/comments?post=16855"}],"version-history":[{"count":6,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/16855\/revisions"}],"predecessor-version":[{"id":18063,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/16855\/revisions\/18063"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media\/16936"}],"wp:attachment":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media?parent=16855"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/categories?post=16855"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/tags?post=16855"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}