YEREVAN, JUNE 14, ARMENPRESS: Armenia has the 10th position with Global Retail Development Index in the annual table formed by A.T. Kearney consulting company. “Armenpress” reports that in the first ten positions besides Armenia were included Brazil, Uriguay, Chile, China, Turkey, Mongolia, Georgia and Kuwait. Russia is in the 23th position, Azerbaijan -29th.

In the report is said: “Rising incomes and improved living standards in Armenia (10th) have paved the way for retail growth. Armenia's government officially welcomes foreign investment, and several global indices rank it as a strong place to do business. There are challenges, however, including a small population (about 3 million), geographical isolation due to closed borders with Turkey and Azerbaijan, a relatively low per capita GDP of about $5,600, and corruption in both the official and commercial spheres.

Armenia's retail sector is still dominated by local players, and organized retail comprises only 10 to 12 percent of total sales, so foreign investors have significant room for development as supermarkets and grocery chains gradually replace open-air bazaars and street vendors.

Local grocers nearly doubled their number of stores in 2012; this year, they are focusing on expanding in smaller formats. The supermarket segment has grown and consolidated in recent years. Local retailer Star acquired the Fresh and Yerevan City chains, continuing its expansion into suburban areas and now accounting for half of modern retail sales in Armenia. Carrefour plans to enter the market by the end of 2013, but until then international grocers will have little presence in the market.

The Dalma Garden Mall, which opened in 2012, is Armenia's first Western-style shopping mall and the country's biggest retail area, with 24 international brands and plans to add 20 more. International retailers that entered the market in Dalma Garden include Gap, Zara, Bershka, Marks & Spencer, Stradivarius, Pull & Bear, Topshop, Accessorize, and New Yorker”.