December 12, 2018
WELLESLEY, Mass., Dec. 12, 2018 – Due to a rising middle class in developed countries, rapidly expanding economies in lesser developed countries, changing lifestyle and purchase habits, increased protein consumption and a more health-conscious mindset, the Latin American (LATAM) retail market has become notably prosperous, according to the BCC Research report “Latin American Retail Industry Profile and Directory.”
According to BCC Research, The Latin American retail market was valued at $263.4 billion in 2017 to nearly $297.9 billion by 2022 at a compound annual growth rate (CAGR) of 2.5% from 2017-2022.
Prominent players in the industry include Jumbo Retail Argentina’s Vea and Walmart Argentina’s Changomas, Vital, Diarco, Maxiconsumo, Makro, Distribuidora Internacional de Alimentación, S.A. (DIA), Farmacity, Zona Vital, Farmacia Azul, Shell Select, Full (YPF) and Carrefour Express.
“In 2016, the World Bank downgraded Argentina from a high-income to an upper-middle-income economy, on a par with Colombia, although it remains one of the largest economies in South America, with a GDP of more than $550 billion,” the report notes. “It is currently undergoing economic transformation development with social inclusion and integration into the global economy.”
High Costs Threaten the Argentinian Retail Market
Argentina’s retail market faces several challenges: high operating costs, inflation, bureaucratic barriers and high taxes. Relatively high tariffs remain in place, although President Mauricio Macri’s government has relaxed import restrictions at large.
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Latin America Retail Industry Profile and Directory( FOD079A )
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