China, India most dynamic retail markets in the world, says report
Asia is the most dynamic retail market in the world, according to A.T. Kearney's 2016 Global Retail Development Index (GRDI). Four of the top five countries are Asian with China and India leading the world, driven by significant populations and retail sales growth.
Hana Ben-Shabat, A.T. Kearney partner and co-author of the study, commented, "Despite China's slowing economic growth, the GRDI's top-ranked country remains one of the most attractive global retail markets. The economy is gradually shifting from an investment-driven model to one driven by consumer consumption. The growing middle class coupled with strong demand from inland and lower-tier cities and the loosening of the one-child policy will continue to drive growth over the next 10 years."
The annual report made special mention of India, noting the nation's "high market potential, fast growth, improved regulatory environment, and ease of doing business pulled it up to second in the rankings," behind China who came in number one out the 30 countries listed.
Mike Moriarty, A.T. Kearney partner and co-author of the study, said, "India's high ranking is driven by GDP growth, improved ease of doing business, and better clarity regarding FDI regulations. India is now the world's fastest-growing major economy, overtaking China, and retail demand is being fuelled by urbanisation, an expanding middle class, and more women entering the workforce."
Concurrently, six countries in Sub-Saharan Africa made the rankings, reflecting the high potential of the region - Nigeria, Cote d'Ivoire, Zambia, South Africa, Ghana, and Kenya.
Here is the complete 2016 Global Retail Development Index Ranking:
#7 United Arab Emirates
#8 Saudi Arabia
#12 Sri Lanka
#17 Dominican Republic
#21 Cote d'Ivoire
#27 South Africa
The GRDI ranks the top 30 developing countries for retail investment worldwide.
The Index analyses 25 macroeconomic and retail-specific variables to help retailers locate global strategies to identify emerging market investment opportunities.
Copyright © 2021 FashionNetwork.com All rights reserved.