"Croatia Retail Report Q1 2015" Published

From: Fast Market Research, Inc.
Published: Fri Jan 02 2015

Following the prolonged recession in Croatia, we expect the economy to recover slowly. However, fast growth rates are expected only from 2018 onwards. Total household spending will begin to grow in 2015 and will continue expanding until 2018 at one of the slowest rates in the region. At around 19%, unemployment will remain one of the major obstacles for growth in retail spending.

Croatia became one of the first Balkan countries to join the European Union in 2013. The membership was expected to improve the country's prospects and alleviate economic problems. However, Croatia continues to be in a prolonged recession, with its GDP having contracted for the 12th consecutive quarter in 2014. Annually, Croatia's GDP has been declining since 2009 indicating that the country's economy is in need of structural reforms. Even with the good tourism season in 2014, investment declined by 8.0% in the first three quarters compared to the same period in 2013. Pessimistic expectations were evident throughout the economy, with employers reluctant to hire and consumers hesitant to increase spending.

Full Report Details at
- http://www.fastmr.com/prod/938391_croatia_retail_report_q1_2015.aspx?afid=301

Similar to the GDP, the growth of total household spending has been sluggish and unstable during the past four years: the periods of growth and decline substituted each other during 2011-2014 and ended the period with a 6.5% slump in 2014. Increasing consumer prices do not help households: prices of utilities, the second largest retail sub-sector, rose by 4.2% in the same year, followed by leisure prices with 3.5% growth. However, in response to declining demand, food & non-alcoholic drinks prices fell by 1.8%, joined by clothing and footwear which declined by 4.0%, both alleviating the pressure on household budgets. At 36.7% of GDP, total household spending is one of the lowest in the region, indicating the untapped potential in the retail sector. BMI expects that the sector will begin to recover along with the overall economy in 2015, with total household spending...

The Croatia 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 Croatia 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 Croatia to test other views - a key input for successful budgeting and strategic business planning in the Croatian retail market.

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Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
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