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."
Aaron Wallis have a dedicated retail sales team filling sales positions across a wide spectrum of the retail industry. Offering a 12 month rebate scheme, Aaron Wallis provide aretail recruitment service that is second to none.
Posted by Wayne Bly
Source: The Sales Executive News