New Retailing research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 10/29/2014 -- Colombia's retail sector forecasts show strong potential for growth, specifically at the end of the projection period during 201 7 -201 8 . BMI forecasts that total GDP will increase 45 % from US D397 bn in 2014 to US D 5 7 5bn in 2018, creating growth in the national economy and increasing net income levels. BMI forecasts that total spending in retail will grow more than GDP and will increase by 46 % throughout the projection period with total spending increasing from US D55.3 bn in 2014 to US D80.8 bn in 2018. The total annual spending in the retail sector per household is forecasted to increase from US D3,864 to US D5,217, creating a large boost in revenue across all retail sectors. The average annual growth rate of the retail sector is forecasted to be 10.0 %, however 2014 is forecasted to be a year of relative struggle with only 3.5 % annual growth projected. BMI forecasts that growth will rebound strongly at 7.7 % in 2015 , 9.9% in 2016 and above 10% thereafter. The largest share of market spending will remain in personal, insurance and other, housing and utilities, and food and drink sectors throughout the projection period.
View Full Report Details and Table of Contents
Colombia's rapid growth of GDP has created increases in the size of the middle class and the proportion of disposable income per household. BMI forecasts that 71.6% of the population will remain below the key annual income level of USD10,000-plus in 2014, indicating a population that is still predominantly below middle class, and will make large scale modern retail outlets less viable in the short term. Despite this, BMI forecasts that throughout the projection period the number of households above the USD10,000 threshold will increase from 28.4% of the population to 40.2% of the population, indicating opportunities for modern retailers to expand throughout the projection period.
The growth of the middle class and rising GDP create an increase in the total spend in the retail sector of...
The Colombia Retail Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for the retail sector. The report examines key drivers of retail sales growth and future prospects, including consumer spending and private sector investment.
BMI's Colombia Retail Report also examines the level of development and potential for growth of the retail sector, the commercial initiatives of major players, changing consumer demographics that influence demand and the regulatory environment. Key sub-sectors include mass grocery retail, autos, over-the-counter pharmaceuticals, computers and consumer electronics.
- Benchmark BMI's independent retail industry forecasts for Colombia to test other views - a key input for successful budgeting and strategic business planning in the Colombian retail market.
- Target business opportunities and risks in Colombia through our reviews of latest industry trends, regulatory changes and major deals, projects and investments.
BMI Industry View
Summary of BMI?s key forecasts and industry analysis, plus a discussion of major industry developments and a snapshot of key short-term demand-driving macroeconomic movements.
Industry SWOT Analysis
Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the retail sector and within the broader political, economic and business environment.
BMI Industry Forecasts
There are four separate 5-year forecast modules in the retail reports. These are:
Headline Retail Forecast: Total Household Spending, (US$bn and local currency, % growth, % GDP, per capita, per household); Spending by Retail Sector for: food and non-alcoholic drink, alcoholic drink, clothing and footwear, housing and utilities, furnishings and home, health, transport, recreation, education, transport, restaurants and hotels, personal care and insurance (US$bn and local currency, % growth, % GDP, % of total spending)
Retail Sector Forecast: Breakdown of Food, Non Alcoholic Drink, Alcohol, Tobacco, Clothing, Footwear, Household Goods, Furnishings, Appliances, Glass and Tableware, Household Textiles, Consumer Electronics, Garden Toys and Pets, Home and Garden tools, Personal Care, Personal Effects Spending (US$bn, % Growth);
Household Income and Numbers Forecast: Number of Households (?000,% growth); gross income per household and per capita; net income per household and per capita; tax and social contributions per capita; breakdown of household incomes ? US$5000+, US$10,000+ US$50000+ (?000, % of total); labour force, employment and unemployment (?000, % change)
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.
For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 800-844-8156
Browse all Retailing research reports at Fast Market Research