Retailers who plan properly can leverage capabilities across some of these smaller, closely located countries and gain a distinct advantage.

The Indian retail market is gradually but surely opening up, while China's market becomes increasingly saturated.

India is at the peak of attractiveness for retailers right now, with a $350 billion retail market expected to grow 13 percent this year. India's top five retailers together still account for less than two percent of the modern retail market.

The window of opportunity is open today for American specialty retailers to come in and establish their brand either through franchising, licensing deals or distribution partnerships.

Most people don't know that the Middle East has one of the highest growth in consumer spending in the world.

Eastern Europe really represents three distinct opportunities global retailers should be acting on: Russia, traditional Eastern Europe like Hungary and Romania, and 'new' Eastern Europe like Ukraine, Slovenia and Latvia.