Noida, India (PressExposure) October 04, 2011 -- The retail industry in South Africa has been growing enormously over the past few years. With the world-class infrastructure equivalent to the first-world countries, high living standards, and a vibrant market economy, South Africa is considered as one of the world's most promising emerging markets. Growth in the retail market is mainly attributed to an increase in personal income, low interest rates, and rising employment opportunities, says our new research report, "South African Retail Industry Forecast to 2013".
Our report identifies that the retail market has benefited from the strong consumer confidence and high public spending on both food and non food items. We have found that the non food retailing will grow at a faster pace than food retailing, with high spending on technical consumer goods. With the rising employment opportunities and low interest rates, the market is set for growth in the coming years. We anticipate that the South African non food retail sales will grow at a CAGR of around 7% during 2011-2014.
However, among the non food segment, technical consumer electronics products like mobile phones, personal computers, major and small home appliances and other goods account for the largest share. Clothing and textile also holds a significant portion of market share with growing demand for international brands in the country due to improving living standards. In near future, it is expected that the share of cosmetics and toiletries will rise with the entrance of new international cosmetics brands in the country.
Besides, our report reveals that, the market will witness a dramatic change in the competitive landscape over the next few years. A large number of companies will foray into the lucrative South Africa retail market with their diversified product portfolio. This will lead the incumbent players to invest heavily in establishing their stores across different regions of the country.
"South African Retail Industry Forecast to 2013", provides future forecast on the industry, based on correlation of past drivers, challenges, and opportunities for expansion. In this way, the report presents a complete and coherent analysis of the South Africa retail industry, which will prove decisive for clients. Detail data and analysis will facilitate investors, financial service providers, and global real-estate players to navigate through the latest trends in South Africa retail industry.
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