BMI View: The economic recovery that began in 2015 after a three year recession will gather momentum
in 2016, although the recovery will remain relatively tepid. Employment will increase, as will consumer
confidence and this will provide a boost to the retail sector. However, because the recovery will be
relatively tepid, we believe that essential spending will increase more rapidly than non-essential spending.
Low inflation and low interest rates will also help to boost retail spending in 2016.
Key Views & Developments
? The economic recovery that began in 2015, when the Italian economy returned to positive growth after
three years of recession, will gather momentum in 2016 and we expect headline economic growth to
register 1.2%, up from 0.8% in 2015.

Table of Contents

BMI Industry View 7
SWOT 9
Industry Forecast 11
Headline Retail Forecast 11
Table: Total Household Spending (Italy 2013-2020) 12
Table: Retail Sector Spending, % Of Total (Italy 2013-2020) 12
Table: Retail Sector Spending, % of GDP (Italy 2013-2020) 14
Table: Headline Retail Sector Spending (Italy 2013-2020) 16
Retail Sector Forecast 17
Food, Drink And Tobacco Spending 19
Table: Food, Drink & Tobacco Spending (Italy 2013-2020) 19
Clothing And Footwear Spending 20
Table: Clothing & Footwear Spending (Italy 2013-2020) 20
Household Goods Spending 21
Table: Household Goods Spending (Italy 2013-2020) 21
Table: Consumer Electronics Spending (Italy 2013-2020) 23
Personal Care Spending 23
Table: Personal Care Spending (Italy 2013-2020) 24
Household Numbers and Income Forecast 24
Table: Household Income Data (Italy 2013-2020) 26
Demographic Forecast 28
Table: Total Population (Italy 2013-2020) 29
Table: Population: Babies (Italy 2013-2020) 30
Table: Population: Young Children (Italy 2013-2020) 30
Table: Population: Children (Italy 2013-2020) 30
Table: Population: Young Teens and Older Children (Italy 2013-2020) 31
Table: Population: Young People (Italy 2013-2020) 31
Table: Population: Older Teenagers (Italy 2013-2020) 31
Table: Population: 21yrs + (Italy 2013-2020) 32
Table: Population: Young Adults (Italy 2013-2020) 32
Table: Population: Middle Aged (Italy 2013-2020) 32
Table: Population: Urban (Italy 2013-2020) 33
Industry Risk Reward Ratings 34
Developed States Risk/Reward Index 34
Table: Developed States Retail Risk/Reward Index, Q216 34
Italy Risk/Reward Index 35
Rewards 35
Risks 36
Market Overview 38
Competitive Landscape 45
Table: Major Clothing And Footwear Retailers 45
Table: Household Goods Retailers 45
Table: Electronics Retailers 46
Table: Major E-commerce Retailers 46
Table: Pharmacies Retailers 46
Glossary 47
Methodology 54
Industry Forecast Methodology 54
Sources 57
Risk/Reward Index Methodology 57
Table: Retail Risk/Reward Index Indicators 58
Table: Weighting Of Indicators 60

List of Tables

Table: Total Household Spending (Italy 2013-2020)
Table: Retail Sector Spending, % Of Total (Italy 2013-2020)
Table: Retail Sector Spending, % of GDP (Italy 2013-2020)
Table: Headline Retail Sector Spending (Italy 2013-2020)
Table: Food, Drink & Tobacco Spending (Italy 2013-2020)
Table: Clothing & Footwear Spending (Italy 2013-2020)
Table: Household Goods Spending (Italy 2013-2020)
Table: Consumer Electronics Spending (Italy 2013-2020)
Table: Personal Care Spending (Italy 2013-2020)
Table: Household Income Data (Italy 2013-2020)
Table: Total Population (Italy 2013-2020)
Table: Population: Babies (Italy 2013-2020)
Table: Population: Young Children (Italy 2013-2020)
Table: Population: Children (Italy 2013-2020)
Table: Population: Young Teens and Older Children (Italy 2013-2020)
Table: Population: Young People (Italy 2013-2020)
Table: Population: Older Teenagers (Italy 2013-2020)
Table: Population: 21yrs + (Italy 2013-2020)
Table: Population: Young Adults (Italy 2013-2020)
Table: Population: Middle Aged (Italy 2013-2020)
Table: Population: Urban (Italy 2013-2020)
Table: Developed States Retail Risk/Reward Index, Q216
Table: Major Clothing And Footwear Retailers
Table: Household Goods Retailers
Table: Electronics Retailers
Table: Major E-commerce Retailers
Table: Pharmacies Retailers
Table: Retail Risk/Reward Index Indicators
Table: Weighting Of Indicators