The Future of Retailing in Italy to 2017 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-21 20:52:03
The Italy retail market grew at a CAGR of 0.26% from 2007-12 and is expected to grow at a CAGR of 1.47% from 2012-17. Growing unemployment and falling disposable income levels, are expected to negatively affect consumption levels and consequently the retail outlook.
Weak consumer confidence negatively affected retail sales in 2012, with a decrease in consumer spending of 4.3% compared to the previous year; it is projected to fall by a further 2.4% by the end of 2013 according to the retailers´ association, Confcommercio.
To overcome the challenging economic conditions, retailers are re-drawing their strategies in an effort to revive sagging sales, renewing their focus on Private Labels to improve margins and reduce additional costs; it also caters to the demand for value product purchases by consumers.
General retailers was the largest channel group with hypermarkets, supermarkets and hard-discounters recording the highest sales among the various channels under General retailers channel group during the review period. The convenience stores (including independents) and gas stations channel recorded the second highest sales.
E-commerce levels, through smart phones and tablets, saw volume increase by 165% in the 12 months ending to February 2013 in terms of volume, according to the Human Highway and Netcomm survey, with 10% of online purchases being made through a mobile device.
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