2019 GRDI highlights

▲ Gain  ▼ Decline  ► No change
Rank Country Rank vs. 2017 Remarks
1 FlagChina 1 ▲ China regains the top position this year, thanks to continued strong retail growth. Convenience stores and other modern formats are expanding due to consumer demand in the experience and unique-product categories.
2 FlagIndia -1 ▼ India drops to number two this year, but remains a stand-out retail leader. Modern retail should grow at an 18 percent clip for the next five years, with online retail—especially grocery—taking off.
4 FlagGhana 27 ▲ New to the Index at an impressive number four, Ghana’s political stability and urbanization are major drivers for modern retail. While informal retailing prevails, department and variety stores are becoming more common.
7 FlagSaudi Arabia 4 ▲ Saudi Arabia rises four notches in 2019. The country’s reforms and economic restructuring are starting to have a positive impact. The young population and consumers’ capacity to spend are attracting major retailers and boosting online sales.
8 FlagJordan 7 ▲ Climbing seven positions, Jordan has a persistently growing economy that makes it attractive to retailers in the Middle East. Both rising disposable income and a sizable youth population are fueling e-commerce, where some major retailers have already taken root.
10 FlagColombia 0 ► Colombia remains at number 10 this year. Consumer confidence is recovering after suffering for two-plus years. Retailers appeal to their demand for value, pulling them in with low prices and convenient locations.
16 FlagBrazil 13 ▲ While the country struggles to recover from severe recession, promising factors sparked its 13-position rise in the Index. A stronger economic structure and slowing inflation will support consumer spending, especially for mass merchandisers and online.
17 FlagBulgaria New Bulgaria debuts on the Index in 2019. Low corporate tax and labor rates make it attractive to international retailers. Grocery consumption and shopping-mall development offer opportunities, along with Bulgarians’ penchant for foreign brands.
22 FlagTurkey -18 ▼ Turkey still ranks in the Index but plummeted 18 positions due to serious political challenges and inflation. The country saw no major retail investment earlier in the year, but it remains one of Europe’s largest consumer markets.
23 FlagRussia -1 ▼ Wage stagnation compels most Russian consumers to demand value from retailers. In modern retail, convenience continues to be the largest channel, while luxury brands are growing online.
26 FlagEgypt New Economic and fiscal reforms appear to benefit Egypt, which makes its first Index appearance. Decent economic expansion helps retailers, but pervasive poverty could limit progress.
27 FlagSerbia 8 ▲ Serbia may be one of Europe’s poorest countries but debuts here because of its potential for retail growth. International grocery and fashion giants have a foothold, and shopping districts are flourishing in major cities.