British retailers ‘missing out on South American boom’

Brazil is rated the most attractive emerging country for retail expansion, followed by Uruguay in second and Chile in third in the report by global management consulting firm A.T. Kearney.

But while foreign major retailers from other parts of the world are now targeting South America, major British players such as Marks & Spencer, Tesco and Sainsbury's have not followed suit.

Wal-Mart, the world’s largest retailer, plans to invest $759 million in Brazil this year, while Carrefour SA, the second-largest retailer, also has stores in Brazil, as well as Colombia and Argentina.

Emmanuel Hembert, a British retail expert at A.T. Kearney, said: “Tesco, M&S and Sainsbury’s are planning developments in Eastern Europe and Asia, which are emerging markets, but have not shown plans to open stores in South America.