Jon Wright, Head of Global Retailing Research, explains how consumer confidence bounced back in 2010, enabling shoppers to start spending again. Strong spending was seen in electronics, appliances, and health and beauty and spending was split between developed and emerging markets. Retailers have been eyeing several new markets, including China, Brazil, Argentina, and Columbia to add new stores to these up and coming markets.
Grocery retailing fared better than non-grocery retailing in 2010, but non-store retailing did the best out of any retailing channel, growing in every market that it existed in. Amazon.com was the standout internet retailer, expanding the range of products it offers online into online grocery retailing in the US, UK, and Germany. Markets such as China and Indonesia are already growing fast in terms of grocery retailing.
Non-store retailing is expected to grow in the forecast period as shoppers use the internet to search for the best deals. Amazon has capitalized on this idea by providing a smartphone app that allows users to compare prices of products in store an online.