Croatia's retail market is in the developed markets group and no longer attractive for big foreign chain stores' greenfield investments, Tomislav Corak, an A.T. Kearney junior partner for Croatia and Hungary, said earlier in the week.
He said Croatia's market was also characterised by a relatively high concentration of retail chain stores.
Competition is fierce and retail property has become expensive, which is why foreign chains are not considering greenfield investments in Croatia, Corak said, adding that the best chance of entering the Croatian market was by acquiring an existing player.
Brazil retained the leading position in A.T. Kearney's Global Retail Development Index for the second year in a row.