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IOSUAE has shifted to a 'buyer's market', says Choithrams CEO
The UAE’s supermarket sector has shifted from being a “seller’s market” to a “buyer’s market” amid stiff competition from newcomers, according to T Choithrams & Sons CEO Rajiv Warrier.
Speaking to Arabian Business, Warrier said that the UAE is “a much more competitive market than it was a few year’s back.”
“It’s [now] pretty much as it is in the rest of the world,” he added. “We’ve been more used to a seller’s market in this part of the world, and this is changing now and becoming more of a buyer’s market.”
Rajiv Warrier, CEO, Choithrams pictured with Ashni Biyani, Managing Director, Future Consumer Limited after the companies signed a retail and distribution partnership.
Warrier said that he believes that supermarket companies must now adapt to the realities of the new market, which he said was increasingly similar to the United States, India, the UK and other parts of the world.
While Warrier said that Choithrams’ long-standing in the UAE gives it an edge over competitors, he said that the company is increasingly looking to e-commerce, as well as the hypermarkets and hyper-local delivery services to boost its brick and mortar operations.
Looking to the future, Warrier said that Choithrams will increasingly also look to expand in nearby Bahrain.
“Bahrain is an interesting market and there’s a lot of potential in that market,” he said. “We see over the next few years more opportunities in Bahrain than we did earlier.”
Choithrams has 60 locations in the UAE, Bahrain, Oman and elsewhere in the Arabian Gulf region.
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