New Report Available: Colombia Retail Report Q3 2014

From: Fast Market Research, Inc.
Published: Wed Jun 18 2014

Colombia's retail sector shows strong growth projections for the 2014-2018 forecast period. BMI forecasts that total GDP will increase 52% from US$385bn in 2014 to US$585bn in 2018 , creating economic growth in the nation. This will have a positive impact on total retail spending which is forecast to increase 52% over the five - year projection period. All sectors of the market are positioned for growth ; however , fastest growth rates are projected to occur in the t ransport and r ecreation , and c ulture sectors which are forecast to have an average rate of increase of 9.6% throughout the projection period. The largest share of market spending will remain the h ousing and utilities , and f ood and drink sectors throughout the projection period.

Colombia's rapid growth of GDP has created increases in the size of the middle class and the proportion of disposable income per household. As the majority of the population (70%) exists below the US$10,000 annual income threshold, the retail market is not yet fully developed. This creates opportunities for growth to those operators who are able to enter the nation and establish themselves. Throughout the projection period, BMI forecasts that the total number of households earning US$10,000+ will increase from 27.4% of the population in 2014 to 41.0% of the population in 2018. This income bracket is a key customer segment for the retail sector, and growth in this income bracket creates opportunities' in the retail market.

Full Report Details at

The growth of the middle class and rising GDP create an increase in the total spend in the retail sector of 52% throughout the five-year projection period. BMI forecasts that total spend in retail will increase from US$224bn in 2014 to US343bn in 2018. The total spend per household is forecast to increase from US$15,657 in 2014 to US$22,118 in 2018. The high average spend indicates that the retail sector is currently split between high spending households of the upper-middle...

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.

Key Benefits

* 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.

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You may also be interested in these related reports:

- Hong Kong Retail Report Q3 2014
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- Colombia Retail Report Q2 2014
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