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13 Jun 2008 (18 Pages) With one of the highest per capita GDPs in the world, Qatar is full of new consumers with an excess of liquid assets. This demographic, which is growing steadily, wants to purchase luxury goods and the retail industry is only too happy to supply them. High-class brands, which accounted for only a very small percentage of the total market 10 years ago, now represent a considerable income stream. As hydrocarbons and liquefied natural gas money continues to roll in, demand will only increase. For this reason, investment in luxury products and services is on the rise. Shopping malls, a relatively recent phenomenon in Qatar, have jumped in popularity over the past five years. Luxury shopping developments have been springing up all over Doha in order to meet the demands of the newly formed upper-middle class. Qatar claims the highest car ownership rate in the GCC and luxury brands account for 20% of the automobile market. A new real estate development, Pearl-Qatar, will cater to wealthy citizens and foreigners alike. The growing number of retail markets and hypermarkets in Qatar has companies scrambling to introduce customer loyalty programmes. With good brand management and careful planning, the retail sector in Qatar will continue to be profitable in the long term. This chapter includes an interview with Aisha Alfardan, Vice-President, Alfardan Automobiles Co.
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