In the past five years, though, this belief has come down to earth with a crash. This is largely due to the global economic crisis, but also the emergence of a new type of consumer.
The economic downturn impacted the availability (and cost) of financial credit available to retailers, while also seriously denting both consumer trust and their ability to spend.
In certain markets, economic, political and regulatory uncertainty has dampened desire to expand in what were once deemed key markets for entry, such as Russia and India.
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