Research and Markets has announced the addition of the “Serbia Retail Report Q4 2011” report to their extensive range of international market research publications. Business Monitor International’s (BMI) Serbia Retail Report (Q4 2011) forecasts that the country’s retail sales will grow by nearly 56% between 2011 and 2015, from a predicted US$82.10bn in 2011 to US$127.78bn by the end of the period. Underlying economic growth, rising disposable incomes and the development of organised retail infrastructure are key factors behind forecast growth in Serbian retail sales.
The Q411 BMI Serbia Retail report provides industry professionals and strategists, corporate analysts, retail associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Serbia’s retail industry.
The Serbian retail sector is still under-served and fragmented compared with more mature markets, with only 25m2 of retail space per 1,000 inhabitants, compared with the EU average of 270m2. However, the increasing development of organised retail infrastructure will result in retail sub-sectors such as consumer electronics and automobiles growing substantially over the forecast period.
The consumer electronics sector is a relatively large, underdeveloped market offering growth potential in key digital products groups such as computers (5% penetration), notebook computers (23% CAGR projected), 3G handsets (70% CAGR) and LCD TV sets (18% CAGR). It is expected to grow by nearly 36% throughout the forecast period, from US$1.24bn in 2011 to US$1.69bn by 2015.
As Serbia’s economy gains momentum, BMI also expects passenger car sales to start picking up. Substantial growth should be evident in 2011, when sales are expected to rise to 44,039 units. By the end of the forecast period, BMI forecasts new car sales of 52,984 units, a rise of more than 20%. Sales of over-the-counter (OTC) pharmaceutical products, meanwhile, are predicted by BMI to increase from US$0.11bn in 2011 to US$0.13bn by 2015, a rise of 23%.
Source virtual-strategy.com
