Bulgarian traders are disappointed with the results achieved this year, but stake hopes for a rebound in the country's retail market in 2011, according to a study of US consultancy CB Richard Ellis (CBRE).

The research was carried out among the 100 leading brands on the domestic market. As much as 69% of the retailers have plans to open new outlets in 2011, with 64% of them intending to unveil more stores within the next three years.

The trend is in line with the developments in central and western Europe, where 77% of the respondents plan to expand their retail networks next year.

Despite hopes for a rebound in the market, almost 75% of the traders consider 2010 unsuccessful. One of the reasons behind the segment's optimistic outlook for 2011 is the fact that the market already hit the bottom this year, thus setting the stage for better results in the future.

According to 89% of the respondents, the market's growth continues to be mainly stymied by the low income of the population. Another 23% of the retailers blame the slowdown in the segment on insufficient workforce quality, while 13% consider that the lack of suitable trade premises undermines market potential.

Retailers planning notable network expansion are traders of shoes and leather accessories, followed by cafe and restaurant operators and food chains.