The UAE’s consumer goods market looks set to respond to positive growth fundamentals with product innovation and differentiation keys to success, according one of the biggest names in the business.
Stephan Kurzawski, Senior Vice President of Messe Frankfurt Exhibition GmbH, which organises Ambiente, the world’s largest consumer show, says the local market is entering a new maturity phase.
“This will be spurred by increasing consumer demand for ethical and authentic products, an increasingly sophisticated design appetite and the government’s decision to allow 100 percent foreign company ownership which will spur entrepreneurial creation,” he said.
“Opportunities arise from forecasts from Dubai Chamber of Commerce & Industry that the UAE retail sector will register compound annual retail growth (CAGR) of 4.9 percent until 2021 reaching a value exceeding US$71 billion.”
Kurzawski was in the UAE to encourage the nation’s retailers, distributors, wholesalers, interior designers and hospitality industry to visit Ambiente 2020 which will be held in Frankfurt, the world’s leading trading location outside of China, from 7-11 February next year. The show regularly attracts over 130,000 visitors from more than 160 countries.
“If there is one event which will spur their imagination, enable them to meet future partners and suppliers, source innovative stock and discover the trends driving the industry, Ambiente is it,” he explained. “They can network with high-calibre producers and make direct contact with competent, high-quality manufacturers via the shortest route. This is the largest and most important meeting place for global sourcing outside Asia with over 4,500 exhibitors from over 90 countries.”