Market COVID-19 Situation Report

KUWAIT – FEBRUARY 2020

The foodservice, fashion, and entertainment market performances in countries with higher rates of COVID-19 infection rates have been severe due to shaken consumer confidence and government forced quarantine and warning measures to reduce/avoid community spread of the virus. The first report cases in the GCC were in UAE with 4 infections in January of 2020 which was contained at the airport.

The infections however continued to grow yet captured at ports of entry but remained at low rates in the GCC in January and most of February. Iran registered its first cases on the 20th of February which kept rising expectantly. Such fast-viral spread led many of the GCC nationals who were spending holiday time in the country to return and cause the first cases (aside from those registered in UAE).

Kuwait which had around 800 tourists in Iran at the time started evacuating its citizens from the country on the 24th of February. Kuwait registered its first cases on the 24th and the numbers continued to increase as more evacuation flights arrived in the country. Kuwait registered the highest infections of COVID-19 in the GCC by the end of February with 45 cases. Kuwaitis were also vacationing in other parts of the world where the virus started spreading such as Italy and Thailand which caused their relatives in the country to be more exposed to the international and local coverage of the virus.

Photo by Yasser Al Zayat
Photo by Yasser Al Zayat

Such exposure caused the fashion, foodservice, and entertainment sectors to tank drastically compared to previous years. The average revenue per store across the different highlighted markets registered a slight decline in performance due to the national holidays at the end of February every year. Performances however used to recover quickly as soon as travelers come back in March. 2020 registered the worst revenue performances in the last week of February with negative growth between 60% to 95% across the highlighted industries.

Fashion and entertainment registered the highest negative rates of -85% and -87% respectively. Foodservice dine in and delivery witnessed a less severe decline with -66% and -37% respectively. The performances across the different industries started to slowly recover on the 28th of February onwards due to the fast government response to the disease. Foodservice delivery and dine in is recovering faster than other sectors and are expected to slowly recover in March as long as low new infections are recorded especially among the expat population. Fashion and entertainment (family entertainment and cinemas) are expected to take longer to recover due to consumers allocating their disposable income toward necessary crisis spending than leisure spending on entertainment and fashion.

Photo by Yasser Al Zayat

DOWNLOAD REPORT AS PDF FILE

About Global Markets

Global Markets is a specialized consultancy firm in market research and business intelligence services covering the GCC markets since 2010. Global Markets’ research methodology depends on covering 100% of businesses that have a physical market presence. The detailed and micro study of businesses and brands is the key differentiator factor for Global Markets’ business model. The company’s strength in linking information from business owners to their operating branches is valuable to reach and better understand market conditions.

For more information, please contact

info@globalmarkets.com.kw | http://globalmarkets.com.kw/

In the News: «Umbrella».. تطبيق لمعلومات الشركات

أطلقت شركة «Global Markets» منصتها المعلوماتية الفريدة «Umbrella» التي تعتبر إحدى منصات الأعمال الذكية سهلة الاستخدام، والتي تضم قدرا هائلا من البيانات حول جميع الشركات بالمنطقة.
وتفخر الخدمة القائمة على أساس اشتراك المستخدمين بطرح منصة سهلة الاستخدام، مصممة خصيصا للتركيز على تحديد مواقع الشركات وربط سماتها التشغيلية وسمات أدائها، حيث تم تصميم منصة Umbrella لترتكز على 4 عناصر رئيسية، هي: الأشخاص، والشركات، والعلامات التجارية والمواقع.
يشمل كل عنصر المواقع الجغرافية لمنافذ البيع ومعلومات الاتصال (عبر وسائل التواصل الاجتماعي، البريد الإلكتروني وأيضا أرقام الهواتف)، والشركات التابعة وأيضا نسبة المبيعات المقدرة.
يمكن الحصول على الخدمة من موقعنا https://umbrella.global كما يمكن للمشتركين إيجاد المعلومات اللازمة للتواصل مع أصحاب الأعمال عبر صفحة «الأشخاص» (People).
تتضمن الصفحة معلومات الاتصال الخاصة بأصحاب الأعمال، بالإضافة إلى جميع المعلومات والتحديثات حول مشاركتهم المباشرة في عالم الأعمال.
من خلال صفحة الشركات يمكن للمشتركين إيجاد الهيكل القانوني للشركات الموزعة والأنشطة في تشغيل المتاجر وفروعها والشركات التابعة لها بالمنطقة، ومعلومات الاتصال وأصحاب الأعمال وجميع الأخبار الخاصة بالشركة.
علاوة على ذلك، تقدم الخدمة جميع المعلومات اللازمة حول عمليات العلامات التجارية.
و في هذا السياق، قال مؤسس الشركة علي بوشهري ان شركة Global Markets تخطو خطوات ثابتة نحو تحويل بيانات الأعمال والمعلومات الأساسية في منطقة دول الخليج خلال أربعة أعوام، وأطلقت مؤخرا منصة معلوماتية للشركات ليس لها مثيل.
وقد افتقرت الشركات منذ فترة طويلة لمصادر المعلومات والبيانات ذات المصداقية في المجالات التي تتنافس فيها بالمنطقة.
وقد أثبتت منهجية البحث التي تنتهجها الشركة أنها ذات مصداقية كبيرة وحظت على ثقة العديد من الشركات الكبرى.
يعد إجراء الأبحاث الرئيسية المكثفة مع تغطية العينات بنسبة 100% بمنزلة أمر مهم للغاية لتقليل هامش الأخطاء وتطوير المزيد من فهم المستوى الدقيق لديناميات الأسواق. وخصصت الشركة قدرا كبيرا من استثمارها في تطوير المنصة لربط البيانات مع بعضها البعض وتمكين المشتركين من الحصول على معلومات مترابطة تساعدهم في اتخاذ قراراتهم التجارية اليومية.
يتمثل الهدف الرئيسي للمنصة في تعزيز ممارسات القرارات التجارية بمنطقة دول مجلس التعاون الخليجي، العلامة التجارية في المنطقة وافتتاح متاجرها وغلقها.
وبإمكان المشتركين من خلال صفحة الأفرع إيجاد المعلومات حول تاريخ افتتاح المواقع وعدد الموظفين وجنسياتهم وعدد ساعات العمل ومساحات المحلات وخدمات التوصيل وتقديرات المبيعات المشغلة من المتجر والمشغلة من عمليات التوصيل.
كما تسمح تلك الخدمة للمشتركين بمقارنة المبيعات المقدرة وسمات المتاجر من خلال صفحة العلامات التجارية.

Continue reading “In the News: «Umbrella».. تطبيق لمعلومات الشركات”

Global Markets launches its intelligence platform; Umbrella

Global Market,  a leading market research company set in Kuwait, has launched Umbrella, a user-friendly business intelligence platform with comprehensive data about businesses in the region.

The subscription-based service boasts a user-friendly platform, designed to focus on quantifying business locations and connecting their operational and performance characteristics. Umbrella is developed around 4 main elements; people, companies, brands, and locations. Each element includes geographical locations of outlets, contact information (social media, email, and phone numbers), subsidiaries, business affiliates, estimated sales. The service can be accessed on https://umbrella.global/. Subscribers can find information to connect with business owners through the “People” page. The page includes contact information about business owners along with any news update about their direct involvement in the business world.

Subscribers can also find the legal structure, business subsidiaries and affiliates in the region, contact information, business owners, and company news are listed in the companies page. Additionally, the service offers information about brand operating, from brand introduction in the region with its store openings and closings, operating companies, and map view of its locations. Subscribers can compare estimated sales, features, and facilities of two locations from the brands page.

Additionally, subscribers can find information about the location opening date, staff count and their nationalities, working hours, store facilities and features such as front of house areas and furniture, sales estimates, and news.

Global Markets has set striding steps in transforming the business data and information grounds in the GCC for four years and has recently launched a business intelligence game changer. Businesses have long been lacking the credible information and data sources in the industries they compete in the region. The research methodology undertaken by Global Markets has proven reliable and trustworthy by many conglomerates. Conducting intensive primary research with 100% sample coverage is key in reducing the margin of error and developing more micro level understanding of market dynamics.

Global Markets invested heavily in developing the platform to connect data together and enable subscribers to generate coherent information sets to help them in their daily business decisions. The ultimate goal of the platform is to enhance the business decision practices in the GCC.

About Global Markets

Global Markets is a market research and a business intelligence company that was established in 2010 in Kuwait. The company estimates market sizes and shares by conducting on-site primary and secondary research. The detailed and micro study of businesses and brands is the key differentiator factor for Global Markets’ businesses model. The company’s strength in linking information from business owners to their operating branches is valuable to better understand market conditions.

BURGER BONANZA!

From his unique position as head of Global Markets, Kuwait’s business intelligence and market research firm, Ali Boshehry explains and assesses the trends and trials facing Kuwait’s burger businesses.

Kuwait’s food and beverage industry is a dominant force in a region where dining, catering and entertaining is a huge part of the culture. For many generations, life in Kuwait – like much of the Arab world – has traditionally been centered around hospitality, the food and refreshments we consume with our peers and our family. Continue reading “BURGER BONANZA!”