Emerging economies 'to have some of the largest retail markets by 2022'

A quartet of emerging economies are set to join established countries US and Japan for boasting the largest retail markets across the globe.

This is according to a new report compiled by the Economist Intelligence Unit, which suggested that the retail industries of China, India, Russia and Brazil will all grow considerably in size between now and 2022.

In fact, the organisation's Retail 2022 report suggests that China's retail market will be larger than any other country's within the next ten years.

Forecasts predict that the Chinese retail market will be worth $8.3 trillion (£5.16 trillion) by 2022 – twice that of the equivalent industry in the US ($4.5 trillion).

Rounding out the top three will be India, which is set to be worth almost $4 trillion – almost equal in size to the entire retail industry of Western Europe.

If estimates are correct, following the big three retail markets will be Japan ($1.6 trillion), Russia ($1.5 trillion) and Brazil ($1.2 trillion).

Jon Copestake, chief retail analyst at the Economist Intelligence Unit and the author of Retail 2022, commented: "The opportunities for retail over the next decade and beyond are enormous. But where the future markets will reside and the way in which we will buy goods will change dramatically."

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Posted by Wayne Bly

Source: The Sales Executive News