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Iran hosts major retailing show

Monday, 04 October 2021 10:16 PM [ Last Update: Monday, 04 October 2021 10:16 PM ]

Yusef Jalali
Press TV, Tehran

All of the big names in Iran’s retail business are here in this annual exhibition dubbed Iran Retail Show.

The event brought together giant local brands as well as owners of leading hypermarkets and malls to network and present their services to visitors.

While online shopping has outpaced in-person buying for many years, modern retail trends like hypermarkets have once again turned the tables, offering bigger outlets and better services to customers.

The fast growing trend now has for the past few years reached Iran, with a growing number of hypermarkets and discount markets being constructed all over the country, something which retailers regard as a new age in Iran’s economic growth that can shield the economy from external pressures such as US sanctions.

Over the past four years, the share of hypermarkets in Iran’s retailing market has increased from 10-percent to roughly 40-percent in 2020. The coronavirus pandemic pushed this figure down to 25 percent in the past year, but experts expect that the overall trend will be positive and will reach 60-percent in 2023.

With a population of over 80 million, it should be no surprise that Iran has a large consumer market. But this issue has been overlooked given the dominance of the oil industry.

Many experts view the US-led oil embargoes as a real shot in the arm for the retail industry, as they prompted the government to explore new frontiers to keep the economy up and running.

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