2014-02-07 23:55:01 - Peru Retail Report Q1 2014 - a new market research report on companiesandmarkets.com
As a result of the Peruvian government´s vigorous promotion of domestic and international investment, the Andean country has experienced a thriving economy with some of the highest GDP growths in the region in the last decade. Peru is the fourth largest Latin American country in terms of population; its rising incomes and a rapidly expanding middle class give it tremendous economic potential that is perceived by domestic and international investors as the best country to invest in South America.
Generally positive trends in underlying economic growth, an expanding population and a steady increase in real wages are key factors behind the forecast growth in Peru´s household spending on the retail sector. A growing number of working women, easier access to consumer
credit, and exposure to foreign product information through the media are also likely to help the value of the retail segment increase by 55% in US$ terms between 2013 and 2018, from US$89bn to US$137bn. Peruvian per capita consumer spending is forecast to increase by 45% to 2018, compared with a regional growth average of 27%. This growth in private consumption has reflected the growing degree to which Peru´s lower and middle classes are able to participate in the consumer economy, with changes in consumption patterns no longer limited to the well off.
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