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Sunday, May 4, 2014

The retail market in Peru


UK-Peru relationship boosted by British Council return in 2014



The British Council has announced plans to re-open its office in Lima, Peru. The UK’s international cultural relations organisation intends to return to the country in the summer of 2014, eight years after it ceased operations there in Lima in 2006.

Our mission

We work with the Peruvian government across many areas of common interest, notably trade and investment, economic development, climate change, security and defence, and the promotion of democracy and human rights.

Priorities

Supporting Peru’s work to develop climate change legislation

The British Embassy in Peru is working closely with the Peruvian government to meet ambitious low-carbon domestic targets. Read more.

Contributing to reducing inequality and improving governance in Peru

A significant portion of Peru's population remains very poor, creating large disparities in the quality of life in Peru’s regions. Read more.

Supporting British nationals in Peru

The British Embassy in Peru is working with local partners and our honorary consuls network to assist British nationals. Read more.

Reducing the threat to the UK from drug production in Peru

Peru is the leading producer and exporter of cocaine to Europe, harming the UK. Read more.

Increasing business with Peru

The British Embassy is working to increase the number of British companies exporting to Peru and encouraging Peruvian investment in the UK. Read more.


Opportunities for growth: retail market in Peru



As the country with the fastest growing retail sector in Latin America, Peru presents a range of current and future opportunities in the retail sector for British brands.



According to Latin Focus Consensus Forecast, by the end of 2013 the average growth of the retail sector in Latin America will be 2.6%, while in Peru it will reach 5.9%, making it the country with the fastest growing retail sector in Latin America. This trend is expected to continue at an estimated average of 6% over the next five years.
The emergence of a growing, affluent middle class with increasing disposable incomes to match their aspirations is also driving the growth of Peru’s retail market. This emerging middle class coupled with the long-established middle class, make up 57% of the Peruvian population.
The proposals for the development of a further 12 new malls throughout the country by the end of 2014 is a good indicator that the sector is blooming and not saturated like other regional markets.
There are already a number of UK brands present in Peru such as Mothercare, Warehouse, Clarks, Oasis, Burberry (watches and fragrances), MINI and Aston Martin. Another set of brands that has already announced their entry into the market includes Kenwood, Trespass, Jaguar, Caterham and Berghaus.
One clear example of the development of the retail sector in Peru is the arrival of world-class international brands like Zara. In January of 2012, the Spanish clothing retailer launched its first store in Lima. The store sold approximately £600,000 in its first week. In 2013, the retailer also launched ‘Zara Home’.
The most attractive sectors for retail are clothing, accessories, food & drink and home & kitchen appliances. Peruvian consumers have a good perception of UK companies as providers of quality goods and are likely to be interested in incoming British brands.
For more information about business opportunities for UK companies in the retail market in Peru, please contact UK Trade & Investment team in the British Embassy in Lima.
(+51) (1) 617-3000 UKTI.Lima@fco.gov.uk

UK Trade & Investment Peru

UK Trade & Investment (UKTI) helps UK-based companies succeed in the global economy. We also help overseas companies bring their high-quality investment to the UK’s dynamic economy.

UK Trade & Investment Peru

British Embassy
Torre Parque Mar (22nd Floor)
Avenida Jose Larco
Miraflores
1301
Peru
Enquiries +511 617 3000

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