Lewes, DE -- (SBWire) -- 05/31/2016 --Report forecast the department store market in Mexico to grow at a CAGR of 12.74% during the period 2016-2020.
The Mexican organized retail sector includes three different retail formats: department stores, specialized stores, and supermarkets. A wide range of products are sold in department stores, and these products broadly fall under one of these categories: apparel, footwear, and accessories; consumer electronics and electricals; home furniture and furnishings; and other products. The other products include beauty and personal care products; books, gifts, and stationery products; home care products; music, video, and entertainment software; and sports and leisure equipment.
The sheer consumption potential of Mexico has resulted in the country gaining the interest of retailers worldwide. Within the organized retail space, department stores in particular have received the attention of global heavyweights such as Wal-Mart and the home grown Liverpool and Grupo Carso.
The report covers the present scenario and the growth prospects of the department store market in Mexico for 2016-2020. To calculate the market size, the report considers the revenue generated from the retail sales of products to individual customers in Mexico.
On the basis of retail format, the organized retail sector in Mexico is segmented into:
- Department stores
- Specialized stores
- Supermarkets
According to the report, a key growth driver is the growth of the middle-income class in Mexico. The middle-income class is considered the primary mass target audience for the retail industry. A large portion of organized retail revenue comes from this population segment, due mostly to its large size. This group has also grown faster than the higher-income class in the country. The C and C-/D+ middle-income classes in Mexico grew from 48% of the total population in 2000 to 52.6% of the total population in 2011. The higher-income class (A/B and C+) grew from 19% of the total population in 2000 to 21% of the total population in 2011.
Further, the report states that one challenge that could hamper market growth is competition from supermarkets such as Walmex.
Department Store Market in Mexico 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
key players in the department store market in Mexico: Coppel, Grupo Elektra, Grupo Palacio de Hierro, Grupo Sanborns, Liverpool (El Puerto de Liverpool), and Suburbia.
Other Prominent Vendors in the market are: American Eagle Outfitters, Best Buy, Costco de México, Forever 21, Grupo Famsa, H&M, and Zara.
Market driver
- Growth of middle-income class
- For a full, detailed list, view our report
Market challenge
- Competition from supermarkets
- For a full, detailed list, view our report
Market trend
- Growth in e-commerce
- For a full, detailed list, view our report
Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Spanning over 73 pages and 70 Exhibit "Department Store Market in Mexico 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Country profile: Mexico, Market segmentation by product category, Geographical segmentation, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape.
For more information Visit at: http://www.marketresearchreports.com/technavio/department-store-market-mexico-2016-2020
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