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In early 2024, Lulu, Panda, and Carrefour were the most visited retailers in Saudi Arabia. Among these, Panda held the largest share of primary visitors, at ** percent. However, Al Othaim Market, which had slightly fewer visitors during the period, boasted the highest share of primary customers.

Market dynamics

The supermarket and hypermarket sector in Saudi Arabia is a multi-billion-dollar industry, projected to reach retail sales worth over *** U.S. billion by 2026. Despite a slight decrease from the previous year, the sector remains robust. The country hosts a wide range of both local and international retail chains. Amongst these, Al Othaim Markets has established itself as a dominant force, operating more outlets than its closest competitors combined. **

Growing Digitization

E-commerce is rapidly transforming the retail landscape. By 2025, revenue of the sector is projected to nearly double its 2023, with an anticipated annual growth rate of **** percent through 2029. Major retailers have fully embraced the digital space, capitalizing on online consumer behavior to expand their operations. Notably, non-perishable goods dominate online purchases. The expanding e-commerce ecosystem is also fostering the growth of complementary industries such as fintech and delivery services. Saudi Arabia has become the largest digital payments marketplace in the region, with the use of digital wallets, and services such as Buy now Pay Later witnessing significant growth in the past few years.