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Fitch+predicts+strong+growth+prospects+for+Sri+Lankan+modern+grocery+retail
Monday, 06 November 2017 - 17:50
Fitch predicts strong growth prospects for Sri Lankan modern grocery retail
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Fitch Ratings expects the modern grocery retail sector in Sri Lanka to expand in the mid-teens in the medium term, supported by aggressive expansion and growth in same-store sales.

Increasing per capita income and rising urbanization should make modern grocery retail more affordable and accessible to a larger portion of the population.

Sri Lanka’s supermarket penetration is still around 15% compared to 30% for regional peers with similar social and economic characteristics, which indicates the potential for the industry to grow.

Fitch also expects that the modern grocery retail sector to continue its double-digit growth over the medium term, helped by the currently low penetration of supermarkets in the country, improvement in per capita income, rising urbanization and changes in customer buying patterns.

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