Global retailing still struggling from a lack of confidence, despite consumer spending that exceeded expectations in 2011; retailing industry being driven by Latin America, the Middle East and Africa: Euromonitor
January 27, 2012
– Global retailing is still struggling from a lack of global confidence, states Jon Wright, head of global retailing research at Euromonitor International.
However, given the economic slowdown, tax increases and consumer concern over unemployment, the consumer spending exceeded expectations towards the end of 2010 and into 2011.
The global retailing industry was driven by Latin America and the Middle East and Africa, both of which saw 4% sales growth in constant terms.