2014-01-29 18:28:02 - The Future of Retailing in Spain to 2017 - a new market research report on companiesandmarkets.com
The retail market in Spain declined at a CAGR of 0.38% from 2007-12 and is expected to grow at a CAGR of 1.03% from 2012-17
During the review period, 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. The convenience stores (including independents) and gas stations channel recorded the second highest sales during the same period.
Tourism in Spain currently accounts for 11% of total GDP and international tourists visiting the country stood at 57.7 million in 2012, an increase of 2.7% when compared to 2011.In the wake of the recession it has become increasingly important for retailers to target tourists, as spending from domestic
consumers has reduced.
Spanish consumers have been extremely cautious when it comes to making purchases, due to the weakening economy and high unemployment rates in the country. They remain uncertain about their future and have a tendency to seek bargains when they are making purchases.
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