(MENAFNEditorial)
2015 is largely set to be a year of recovery for the Israeli retail sector and the country's wider economy following the seven-week conflict on the Gaza strip during the summer of 2014. Nonetheless consumer confidence has been dented and as a result we are forecasting a slight decline in household spending during the course of the year. Beyond 2015 we believe there remains great potential in Israel's retail market owing to a growing and increasingly affluent population. We are expecting growing demand for non-essential items particularly in personal care and communications.
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Israel's economy has swiftly moved towards recovery following 2014's summer conflict in Gaza. We are currently forecasting real GDP growth of 3.4% over the coming year up from 3.1% recorded during 2014. Echoing this optimism the IMF has ranked Israel fifth in their favourable projections forecast. Despite the improvements in the wider economy the retail sector is set for a somewhat slower return to growth over the coming year. Consumer confidence has taken a hit and living expenses are on the rise. This has resulted in more subdued household spending and we are forecasting a decline in spending in all retail categories over 2015. We believe the retail sector will make a stronger recovery in the medium term and expect household spending to return to growth in 2016.
We continue to see potential in Israel's retail sector beyond our forecast period owing to growing demand for non-essential items as well as luxury products. This demand is being generated by the young urban and increasingly affluent population who are experiencing rising disposable income levels. By 2019 an impressive 21% of households will have reached the top income bracket of USD50000-plus. Furthermore 26.9% of the population are expected to be in the 20-39 age range. As a result we expect to see increases in household spending on personal care and communications and to a lesser extent on clothing &...
Report Table of Contents:
BMI Industry View
SWOT
Political
Economic
Industry Forecast
Headline Retail Forecast
Table: Total Household Spending (Israel 2011-2018)
Table: Retail Sector Spending % Of Total (Israel 2011-2018)
Table: Headline Retail Sector Spending (Israel 2011-2018)
Table: Retail Sector Spending % of GDP (Israel 2011-2018)
Retail Sector Forecast
Food Drink & Tobacco
Table: Food Drink & Tobacco Spending (Israel 2011-2018)
Clothing & Footwear
Table: Clothing & Footwear Spending (Israel 2011-2018)
Household Goods
Table: Household Goods Spending (Israel 2011-2018)
Personal Care
Table: Personal Care Spending (Israel 2011-2018)
Household Numbers And Income Forecast
Table: Household Income Data (Israel 2011-2018)
Table: Labour Market Data (Israel 2011-2018)
Demographic Forecast
Table: Total Population (Israel 2011-2018)
Table: Population: Babies (Israel 2011-2018)
Table: Population: Young Children (Israel 2011-2018)
Table: Population: Children (Israel 2011-2018)
Table: Population: Young Teens and Older Children (Israel 2011-2018)
Table: Population: Young People (Israel 2011-2018)
Table: Population: Older Teenagers (Israel 2011-2018)
Table: Population: 21yrs + (Israel 2011-2018)
Table: Population: Young Adults (Israel 2011-2018)
Table: Population: Middle Aged (Israel 2011-2018)
Table: Population: Urban (Israel 2011-2018)
Macroeconomic Forecasts
Table: Israel - Economic Activity
Industry Risk Reward Ratings
Middle East And Africa Industry Risk/Reward Ratings
Table: MEA Regional Risk/Reward Ratings
Industry Risk/Reward Ratings
Rewards
Risks
Market Overview
Retail subsectors
Tourism
Competitive Landscape
Department Store Groups
New Hamashbir Lazarchan
Galeries Lafayette
MGR
Shufersal
Alon Blue Square
Fashion
Fox-Wizel
The Children's Place Retail Stores
Consumer Electronics
ALM
Isafar Consumer Products
Glossary
Methodology
Industry Forecast Methodology
Sources
Risk/Reward Rating Methodology
Table: Retail Risk/Reward Ratings Indicators
Table: Weighting Of Indicators
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