"Colombia Retail Report Q1 2015" is now available at Fast Market Research

From: Fast Market Research, Inc.
Published: Fri Jan 23 2015

We expect robust private consumption to remain the main driver of the Colombian economy in the coming quarters, forecasting growth of 4.8% in 2014 and 4.5% in 2015. We forecast total household spending on the retail sector to rise by an average 10.0% a year between 2015 and 2018, with a projected 29.8% increase in net household income over the period providing attractive opportunities for retailers. Although food & drink will continue to account for a large share of the household budget over our forecast period, increased non-essential purchasing will see sectors such as personal care grow more rapidly.

Small independent retailers still play a major role in the Colombian retail market, but many are losing market share to large domestic and international players whose modern formats appeal to the growing middle class - BMI forecasts that the USD10,000-plus middle-income bracket will increase by more than 40% by 2018. The largest retailers in the country are also developing e-commerce businesses to meet growing demand from a young, computer-savvy population, with BMI data showing the young adult 20-39 years population reaching 16.06mn by 2018.

Full Report Details at
- http://www.fastmr.com/prod/944700_colombia_retail_report_q1_2015.aspx?afid=301

BMI forecasts that total household spending on retail will increase from USD59.54bn in 2015 to USD80.83bn in 2018. The total spend per household is forecast to increase from USD4,076 to USD5,217 over the same period. Increasing affluence is making Colombia an attractive market for regional and international retailers alike, with Chilean companies such as Ripley, Falabella and Cencosud all major players, and Oxxo of Mexico and Jerónimo Martins of Portugal also expanding.

Over 2015-2018, impressive annual gains in the retail sector will be seen in personal, insurance & other, forecast to increase at an average annual rate of 10.8%. Recreation & culture, transport and health will also grow strongly, at more than 10% a year. Indeed, all sectors of the Colombian retail industry are forecast to post annual growth...

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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