Mongolia #9 in A.T. Kearney Global Retail Development Index
Botswana (#20) Enters the GRDI Ranking for the First Time Signaling Regional Growth and the Future of Africa as a Significant Consumer Market; As Major Developing Countries Become More Competitive, Smaller Countries That Deliver New Growth Opportunities Rise in the Rankings -- Georgia (#6), Oman (#8), Mongolia (#9), and Azerbaijan (#17)
CHICAGO, IL--(Marketwire - Jun 11, 2012) - Today A.T. Kearney's Global Consumer Institute released the 2012 Global Retail Development Index (GRDI), a ranking of the top 30 developing countries for global retail expansion. Brazil is #1 for the second year in a row driven by a growing middle class economy, high consumption rates, a large, urban population, and reduced political and financial risk. In addition, Brazil's relatively young population and high per capita spending in the apparel and luxury sectors make this country a top destination for specialty retailers.
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Excerpt:
Mongolia: a thriving economy. Mongolia enters the GRDI for the first time, landing in 9th place overall. The International Monetary Fund (IMF) predicts that Mongolia's economy will grow 14 percent yearly through 2016, behind a thriving mining industry and China's increased demand for coal.
Despite a relatively small GDP and retail market, Mongolia's tremendous growth potential and democracy present an opportunity for retailers seeking a steady base of wealthy customers and a stable political environment.
Although the population is small, wealth is concentrated. Luxury retail is rising with numerous companies developing a presence there, and boutique hotels, restaurants, and pubs expanding to Ulan Bator, as it becomes a modern city. LVMH was the first luxury brand to open an outlet in Mongolia (2009), and it was soon followed by Zegna, Hugo Boss, Cartier, L'Occitane, and Dunhill, among others. Burberry is planning to open its second store in Mongolia in a new Shangri-La Hotel complex.
Much of the population is slowly moving out of poverty and entering the ranks of lower-middle-income earners. Mongolian consumers are following Western trends gathered from fashion magazines and the Internet. As the population becomes more urban, more people are buying Western goods and shopping in modern retail formats.
CHICAGO, IL--(Marketwire - Jun 11, 2012) - Today A.T. Kearney's Global Consumer Institute released the 2012 Global Retail Development Index (GRDI), a ranking of the top 30 developing countries for global retail expansion. Brazil is #1 for the second year in a row driven by a growing middle class economy, high consumption rates, a large, urban population, and reduced political and financial risk. In addition, Brazil's relatively young population and high per capita spending in the apparel and luxury sectors make this country a top destination for specialty retailers.
…
Excerpt:
Mongolia: a thriving economy. Mongolia enters the GRDI for the first time, landing in 9th place overall. The International Monetary Fund (IMF) predicts that Mongolia's economy will grow 14 percent yearly through 2016, behind a thriving mining industry and China's increased demand for coal.
Despite a relatively small GDP and retail market, Mongolia's tremendous growth potential and democracy present an opportunity for retailers seeking a steady base of wealthy customers and a stable political environment.
Although the population is small, wealth is concentrated. Luxury retail is rising with numerous companies developing a presence there, and boutique hotels, restaurants, and pubs expanding to Ulan Bator, as it becomes a modern city. LVMH was the first luxury brand to open an outlet in Mongolia (2009), and it was soon followed by Zegna, Hugo Boss, Cartier, L'Occitane, and Dunhill, among others. Burberry is planning to open its second store in Mongolia in a new Shangri-La Hotel complex.
Much of the population is slowly moving out of poverty and entering the ranks of lower-middle-income earners. Mongolian consumers are following Western trends gathered from fashion magazines and the Internet. As the population becomes more urban, more people are buying Western goods and shopping in modern retail formats.
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