9th October 2013 - Posted by Tania Oakey - Retail Marketing Director - Category: International
Published since 2002, the Global Retail Development Index (GRDI) published by AT Kearney studies the retail market in countries across the world to understand local trends and predict future developments. The study takes a fascinating look at the economic conditions in each area, sectors that are growing, big brands expanding in the region and the outlook for the coming years. Each country is ranked on the GRDI for its retail investment potential based on numerous macroeconomic and retail-specific variables.
Brazil, Russia, India and China have been the big markets for retailers for many years but the paths and fortunes of these retail juggernauts are diverging. Brazil remains on top and looks set for more growth with the 2014 World Cup and 2016 Olympics on the horizon. Russia has seen a spending slowdown, but overall retail remains strong as the luxury market grows pace. Down one place this year, China has also seen a slowdown in spending but rising customer demand and strong economic fundamentals should see them through. India has seen the biggest slip of the group, down 9 places in the index this year. The future remains bright – especially online – as fashion conscious youngsters drive growth.
The GRDI also earmarks some up-and-coming retail markets as ‘ones to watch’. Sub-Saharan Africa is showing clear momentum, thanks to highly populous cities and the growth of the shopping mall concept. There are plenty of hidden gems showing great retail opportunity despite smaller markets; Mongolia, Georgia and Armenia are some of these highly attractive prospects with lots of room for growth.
Retail Trends Worldwide - An infographic by the team at Cegid
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