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NewswireTODAY - /newswire/ -
Noida, Uttar Pradesh, India, 2010/09/23 - With rise in consumer expenditure, South African retail market is expected to grow at a CAGR of around 5% during FY2010-FY2014.
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According to our report “South African Retail Industry Forecast to 2013”, South African retail market emerged as a biggest retail market in the Sub-Saharan region and 20th globally. It is expected that the country retail market will surge at a CAGR of around 5% during the forecast period FY2010-FY2014, on the back of rising household income, almost stable economic condition, and growing consumer awareness. The presence of huge untapped potential in the rural region will further encourage the big international retail players to invest their money in the country in future.
South African retail market is mainly dominated by non-food items like, clothing, C&T, and consumer electronics. The sales of these items experienced a great boost during the FIFA World Cup in June and reached a satisfactory level. With presence of big brands and upcoming international companies in the country, the retail sale of non-food item is further anticipated to grow in near future. Although share of food retail is comparatively less, with rising concern for packaged & frozen foods among black consumers, this is expected to increase in coming years.
Apart from this, intensive research is done on each non-food item segment, and it has been found that consumer electronics holds the largest share among them. South African consumers are continuously shifting towards more advanced technical equipments like major domestic appliances and telecommunication products. Moreover, introduction of new and innovative technologies will further increase the market of these products.
“South African Retail Industry Forecast to 2013”, provides detailed information about the big retail players operating in the country, to enable client understand market structure and future growth potential. Due consideration has been given on each and every segment of the sector while making the report. Additionally, report identifies recent trends that are prevailing in the country and will affect the market in coming years.
Report/IM275
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