Three-quarters of senior retail and FMCG executives expect dramatic consolidation in the retail market this year.
That is one of the findings of a new survey of top listed retail and FMCG companies by The Gap Partnership.
It says that as economic problems intensify, stronger retailers will capitalise on the recession as an opportunity to acquire weaker businesses with financial problems. Seventy-two per cent of respondents predict that 2009 will see the market subject to significant consolidation.
Participants believe that the fashion segment will be hit the hardest. However, they also predict that the home and DIY sectors will be least at risk from consolidation.