Retail & Commerce in Morocco
The retail sector is estimated to account for 13% of the country’s GDP, and employment in the sector represents 12% of total jobs.
Morocco ranked sixth out of 30 countries in attractiveness for retail development in the Global Retail Development Index, up eight spots from 14th in under four years.
The Morocan government seeks to modernize local commerce, encourage the establishment of commercial activity zones, and launch regional trade and distribution schemes, with a focus on locally-produced and traditional producs.
Rawaj Vision 2020 targets four main commercial actors: independent businesses, franchises, merchants in public spaces, such as in wholesale markets or fish halls, and hypermarkets and supermarkets.
The three axes are: the modernization of distribution through upgrades of the classic distributors, the financial and technical support of the various segments in a progressive manner, and the creation of an appropriate sectoral framework to drive the sector’s transformation.
This aims to overhaul the fiscal and administrative framework as well as improve the market’s operation and factors of production, hence the integration of the sector in Special Economic Zones scheme through the Fnideq Economic Activity and Cabo Shopping Valley zones, both managed and operated by Tanger Med Zones.
IKEA to open its second megastore in Cabo Negro, Northern Morocco
World leader in furniture and decorative furnishings, IKEA announced in mid-June 2020, the upcoming opening of its second megastore in the Kingdom. The establishment of this new store represents an investment of nearly 38 million euros, which will further boost the economy of the northern region of Morocco.
With a surface area of 16 100 sqm, the store will include a 3 700 sqm showroom, a 3 450 sqm market concourse, and IKEA’s first restaurant with a terrace of a total capacity of up to 250 people. It will also offer a unique outdoor exhibition space in the IKEA universe and Morocco, in the form of a 500 sqm glass roof, which will house its outdoor furniture selection throughout the year.
“Since we arrived in Morocco, we have invested nearly 75 million dirhams in lowering the prices of more than 1 300 products. For example, the price of the HEMNES bench bed has fallen by 25%, the KLIPPAN sofa price felt by 29%, while the KALLAX shelf price had fallen by 44% between 2016 and 2021. We remain strongly committed to continuing this dynamic to allow as many people as possible to access our products. The Tetouan store is a new step in this direction since it will allow us to improve our economy of scale and make consumers benefit from it ”.
M. Marino Maganto
CEO of SYH Morocco - IKEA