“(Reuters) – Retailers in the United States and Europe must consolidate and invest in emerging markets and innovation or risk stagnating in an environment where domestic demand will remain subdued for years, industry leaders said.
Executives and economists at the World Retail Congress said the United States and most European countries were likely to avoid a slide back into recession, helped by a pick up in global trade that is being driven by demand from emerging markets like China.
However, they warned that for the foreseeable future, domestic demand would not return to the boom years of earlier this century, pointing out unemployment was set to remain high as governments seek to pay back the mountain of debt spent on easing the effects of the recession. . . ” Reuters
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