The global pet care market is foretold to improve in the forthcoming years as matched to the preceding years and will showcase better sales in various market segments. It is estimated that the global pet care market will grow at a CAGR o…
BMI View: Despite slowing economic growth, we hold a positive forecast for the Czech Republic's retail
sector over the next year. The retail sector will benefit from strong household consumption, supported by
rapidly rising incomes, a tightening labour market, low interest rates and subdued inflation. This will drive
demand for higher-quality goods and services across the board.
Key Trends & Developments
- According to new legislation passed by the Czech parliament, large retail outlets, with floor space
exceeding 200sq m, will have to close during official state holidays in the country. Currently, there are
seven such days during the year. The legislation came into effect on September 1 2016.
- We forecast total household spending to increase by 9.4% y-o-y in 2016. We project a slightly a slower
but still robust spending growth rate across the entire forecast period, averaging 8.5% per annum.
- The three largest spending areas - food & non-alcoholic drinks, housing & utilities and transport - will
continue to account for more than 50% of total spending in 2020.