We estimate that a 20% decline in electronic sales would result in a 5% direct decline in
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We estimate that a 20% decline in electronic sales would result in a 5% direct decline in
gross profit. However, this ignores the other negative effects of other product
categories due to a weaker footfall trend.
More entertainment in KSA, less attraction for Jarir’s stores
In line with the guidance of the NTP, we expect Saudi Arabia to develop the
entertainment sector (theme parks, cinemas). This signals the emergence of new
aspirations and social changes for Saudis. While these developments will support
implementation of Saudi Vision 2030, they will pose threats to the existing business
models of Saudi retailers such as Jarir and Extra that are currently substituting for the
lack of entertainment opportunities in the country.
OS Merrill Lynch GEMs Paper #26 | 30 June 2016 63
HOUSE_OVERSIGHT_016173
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