2012 retailers to expand in new markets

With consumer spending hitting a low and UK economic growth

stunted, retailers are looking for ways to offset this in 2012.

According to new research from the Economist Intelligence Unit, expansion into emerging markets is going to be the most beneficial way to do this.

Having surveyed retail professionals, Jon Copestake, Lead Analyst for Consumer Goods at EIU, said: “Fears seem to lie mainly in the ailing eurozone, which just under half of the panel thinks will exist in its current state by 2013. There is scope for optimism, however.

“One in five respondents see conditions for their company improving, while almost half think things will stay the same. Additionally, only one-third predict that things will get worse for the industry as a whole in 2012.”
China will be a major expansion target for quality British brands next year it seems, with the World Luxury Association predicting that the Asian giant will overtake its neighbour to be the world’s largest luxury goods market in 2012.