This document provides an overview of the global food retail sector. It discusses different types of retail stores such as hypermarkets, supermarkets, discounters, and convenience stores. The top two regions for retail sales are Europe and North America. Walmart is the largest retailer globally. Major trends include the increasing concentration of sales among the top 10 retailers worldwide, and the expansion of retailers into emerging markets like China and Russia. Retailers are increasingly operating across national borders. The document serves as an introductory handbook on the food retail sector.
This presentation outlines the current state of the retailing industry as of 2014, including market analysis, company profiles, new product launches, consumers trends, and other analyst insight.
The document discusses the Vietnam retail market, providing an overview of market performance by ownership, format, and categories. It notes that retail sales have grown 18-22% annually in recent years. While traditional trade still dominates, modern trade formats like supermarkets and convenience stores are growing. Food accounts for about 2/3 of retail sales currently. The retail market faces challenges like a shortage of skilled labor and rising costs, but is projected to continue strong growth in the future.
Vietnam's food retail sector is dominated by traditional retailers but modern retailers are expanding rapidly. Modern retail sales grew at a compound annual rate of 14.6% from 2012-2017 compared to 9.5% for traditional retailers. Competition is intense between modern retailers and from imported products receiving preferential tariffs from Vietnam's free trade agreements. However, some U.S. consumer products are finding success due to perceptions of quality and safety, and a growing middle class. Top U.S. exports to Vietnam's food retail sector include tree nuts, dairy, poultry, fresh fruits, and beef.
A holding company with controlling economic interests in
The CrownX, Masan MEATLife (“MML”) and Masan
High-Tech Materials (“MSR”)
Consumers have drastically cut back on
total spending on life-friendly products due to having to stay
at home more, so they switch from spending on outside services to consuming at home
1. The document discusses recent trends in the retail industry, including the rise of omnichannel retailing, increasing online shopping and mobile payments, and a focus on personalized customer experiences.
2. Key trends include increasing consumer interconnectivity and demand for individualized experiences, as well as the growth of social media and data collection about customers.
3. Retailers face issues around managing large amounts of customer data while respecting privacy, and need to listen to consumers through multiple new channels to understand changing needs and spot trends.
Disciples Escoffier is a non-profit association created in 1954 dedicated to culinary arts and knowledge transmission. It has over 25,000 members across 26 countries, including renowned chefs. The organization holds cooking competitions and operates culinary schools and programs across Asia in partnership with local institutions. The Chinese restaurant industry is large and growing, with trends including growth of fast casual concepts, expansion of traditional brands, and increasing popularity of online delivery services and healthy, organic options.
The document provides information about the International Floriculture Expo trade show that will take place June 8-10, 2015 in Chicago, Illinois. It summarizes that the trade show brings together buyers from the floral industry and connects them with companies that offer products and services. It also notes that the trade show will be co-located with the United Fresh and FMI events, combining retailers from various fresh food categories. The document provides details on exhibitor benefits, key buyer programs, and attendee demographics.
This presentation outlines the current state of the retailing industry as of 2014, including market analysis, company profiles, new product launches, consumers trends, and other analyst insight.
The document discusses the Vietnam retail market, providing an overview of market performance by ownership, format, and categories. It notes that retail sales have grown 18-22% annually in recent years. While traditional trade still dominates, modern trade formats like supermarkets and convenience stores are growing. Food accounts for about 2/3 of retail sales currently. The retail market faces challenges like a shortage of skilled labor and rising costs, but is projected to continue strong growth in the future.
Vietnam's food retail sector is dominated by traditional retailers but modern retailers are expanding rapidly. Modern retail sales grew at a compound annual rate of 14.6% from 2012-2017 compared to 9.5% for traditional retailers. Competition is intense between modern retailers and from imported products receiving preferential tariffs from Vietnam's free trade agreements. However, some U.S. consumer products are finding success due to perceptions of quality and safety, and a growing middle class. Top U.S. exports to Vietnam's food retail sector include tree nuts, dairy, poultry, fresh fruits, and beef.
A holding company with controlling economic interests in
The CrownX, Masan MEATLife (“MML”) and Masan
High-Tech Materials (“MSR”)
Consumers have drastically cut back on
total spending on life-friendly products due to having to stay
at home more, so they switch from spending on outside services to consuming at home
1. The document discusses recent trends in the retail industry, including the rise of omnichannel retailing, increasing online shopping and mobile payments, and a focus on personalized customer experiences.
2. Key trends include increasing consumer interconnectivity and demand for individualized experiences, as well as the growth of social media and data collection about customers.
3. Retailers face issues around managing large amounts of customer data while respecting privacy, and need to listen to consumers through multiple new channels to understand changing needs and spot trends.
Disciples Escoffier is a non-profit association created in 1954 dedicated to culinary arts and knowledge transmission. It has over 25,000 members across 26 countries, including renowned chefs. The organization holds cooking competitions and operates culinary schools and programs across Asia in partnership with local institutions. The Chinese restaurant industry is large and growing, with trends including growth of fast casual concepts, expansion of traditional brands, and increasing popularity of online delivery services and healthy, organic options.
The document provides information about the International Floriculture Expo trade show that will take place June 8-10, 2015 in Chicago, Illinois. It summarizes that the trade show brings together buyers from the floral industry and connects them with companies that offer products and services. It also notes that the trade show will be co-located with the United Fresh and FMI events, combining retailers from various fresh food categories. The document provides details on exhibitor benefits, key buyer programs, and attendee demographics.
1. The Chairman expresses gratitude to frontline workers who helped keep economies moving during the Covid-19 pandemic, and notes Unilever responded to challenges with resilience.
2. Unilever met its objectives of volume-led competitive growth and delivering underlying operating profit and strong free cash flow despite difficult conditions.
3. Shareholders overwhelmingly approved Unification, simplifying Unilever's legal structure under a single parent company, Unilever PLC.
4. The Board will propose changes to Directors' remuneration policy to enhance incentives and drive long-term sustainable growth.
5. Unilever will voluntarily put its climate transition
This document provides an overview of China's cosmetics market in 2011. It discusses the market size reaching 110.3 billion yuan, an 18.7% increase from 2010. It also examines distribution channels like department stores, supermarkets, and the growing popularity of online retailers. Rising costs are putting pressure on retailers as minimum wages and rents increase. Overall the market shows strong growth, especially in lower-tier cities, but first- and second-tier cities still capture over half of sales.
This document analyzes the state of eCommerce in Europe by benchmarking the top 200 online retailers across several countries and sectors. It finds that while eCommerce has grown significantly, there remain large differences between countries, sectors, and traditional retailers versus pure online retailers. Consumer electronics retailers generally excel at features for product discovery and comparison. While fulfillment capabilities are strong, mobile commerce support remains limited. Overall opportunities still exist for retailers to improve the customer experience and expand into new areas like mobile and social media.
Having achieved a market size of Approximately $185 Billion in total apparel sales in 2013, China is expected to become the world’s largest apparel market surpassing the US by 2018. Due to the nearly unlimited potential of the market it offers vast opportunities for foreign fashion brands wishing to develop their international business.
Retailing involves selling goods and services to consumers in small quantities. It serves several functions like deciding on product assortments, breaking bulk, display, inventory holding and additional services. Special characteristics of retailing include the retailer's strategy. There are various types of retailers worldwide like independent, chain, franchised and consumer cooperatives that offer different merchandise through stores like convenience stores, supermarkets, hypermarkets and more. Technology plays a key role in retailing by enabling integrated systems, networking, electronic data interchange, bar-coding, electronic article surveillance and electronic shelf labels to help control inventory and make merchandising decisions across multiple retail outlets.
SCL Antwerp - Patrick Dittli, Global Director Supply Chain, Metro Cash & CarryGlobal Business Intel
This document discusses improving connectivity and customer centricity across the supply chain at Metro Cash & Carry. It identifies that the retail game has changed with increased online shopping and on-demand delivery, posing challenges to traditional brick-and-mortar retailers. The document advocates taking a cross-functional approach to break down silos and focus on customers, products, and suppliers through connected processes. It presents connectivity methodology including mapping current pain points, prioritizing issues, finding solutions, and implementing changes. Key areas identified for initial focus are order management, product lifecycle management, and promotion management.
Vietnam's rapid urbanization has opened the opportunity for CVS and Minimarket/Food Store to thrive.
The CV-19 pandemic has proved the potential of this retail format.
Non-store retailing involves sales made directly to consumers without using physical stores. It includes direct marketing through methods like telemarketing, direct mail, and e-commerce. Non-store retailing offers consumers convenience through purchases made 24/7 via phone or online. It now accounts for over 15% of all consumer purchases and is growing at a higher rate than traditional retail stores. Common non-store retailing methods include direct marketing, direct selling, vending machines, and kiosks.
Convenience stores in some countries have had a strong food-to-go offer for many years (e.g. USA). But food-to-go has been a relatively new development for operators in other countries, including the UK.
The document discusses organized and unorganized retailing. It defines retailing as the sale of goods or merchandise from a fixed location in small quantities for direct consumption. The major types of retailing are markets, shops/stores, and virtual retail using mail, phone or online ordering. Organized retailing in India is growing rapidly at 25% annually and is expected to increase from $7.5 billion currently to $21.5 billion by 2010 due to changing lifestyles, income growth, and favorable demographics.
China's ecommerce market is growing rapidly, particularly in smaller cities, with online sales expected to reach nearly 30% of all retail sales by 2018. Mobile commerce is also rising quickly, with over 90% of online transactions occurring through marketplaces like Taobao and Tmall, which are dominated by Alibaba. Cross-border ecommerce from overseas sellers into China is also increasing as Chinese consumers demand more imported products and spend more on foreign brands.
The document outlines Metro Cash & Carry's operations in Pakistan. It discusses Metro's mission to be a one-stop wholesale shop providing quality products at low prices to professional customers like hotels and restaurants. Metro aims to improve customer competitiveness through its efficient supply chain and product range across categories like food, non-food, household goods and office equipment. The document highlights Metro's strengths like low prices, wide variety, business solutions under one roof and efforts to develop local suppliers and careers.
Non-store retailing involves selling goods and services without a physical store, such as through vending machines, direct-to-home selling, telemarketing, catalog sales, mail order, and television marketing. It is a fast-growing method that allows customers to purchase items from their homes. While most retail transactions still occur in physical stores, non-store sales now account for almost 20% of total retail trade. The main types of non-store retailing include direct selling, telemarketing, online retailing, automatic vending, direct marketing, and electronic retailing.
Metro AG is a German international wholesale and retail company founded in 1964 that operates cash and carry wholesale stores, supermarkets, consumer electronics stores, and department stores across Europe, Asia, and Africa, generating over €31 billion in annual revenue. The document discusses Metro's operations model for its Metro Cash & Carry wholesale stores, entry into the Indian market, a PEST analysis of factors impacting operations in India, and recommendations for improving its Indian business. Metro Cash & Carry aims to provide bulk goods and supplies to business customers through a self-service wholesale store format.
Fashion Trends and Business Opportunities in South Korea - SummaryBusiness Finland
The document provides an overview of the fashion market in South Korea, including business opportunities for Finnish companies. It discusses the growing Korean economy and demographics, noting trends toward single-person households and increased online shopping. Major distribution channels like department stores and online retailers are analyzed. The market is segmented into clothing, shoes/bags/watches, and home furnishings. Overall opportunities exist in casualwear, sportswear, bags, and Nordic lifestyle products due to their simplicity and sustainability. Finnish companies should consider online channels and curation services to target younger consumers in South Korea.
This document summarizes FMCG market trends in Vietnam for the period ending January 26, 2014. It finds that Vietnam's GDP and inflation rates improved in 2013. The FMCG market saw strong growth during the peak spending season of Tet, with rural areas seeing 22% value growth. Beverages was the leading category in both urban and rural areas. Confectionaries, such as candies in urban and biscuits in rural, were the hottest categories. Retail outlets like street shops saw significant growth during Tet celebrations.
The document provides an analysis of opportunities for Finnish fashion brands in the Chinese market. It summarizes key details about China's geography, economy, apparel market size, top performing brands and categories. Distribution channels like department stores, shopping malls, specialty stores, and online sales are growing rapidly. New opportunities exist in tier 2/3 cities and among men's fashion. Digital marketing and multi-brand boutiques are also expanding in China.
Vietnam's retail sector is dominated by traditional wet markets but modern retail is growing rapidly. Modern retail sales have increased 124% from 2011-2015 while traditional retail growth is declining. Rising incomes and an urbanizing population are fueling demand for supermarkets and convenience stores. Consumer spending is also driven by increasing health consciousness and less influence from children as families have fewer dependents.
Presentation on different types of retailing formatsMobin Francis
This document summarizes different types of retailing formats. It describes general stores, mom-and-pop shops, and variety stores as suitable options for new entrants with limited financial resources. Department stores and convenience stores are presented as options for those with adequate funds but limited retail knowledge. Supermarkets and hypermarkets are identified as formats suitable for foreign players entering the Indian market. The document is presented by Mobin Francis and provides an overview of various retail formats.
1. The Chairman expresses gratitude to frontline workers who helped keep economies moving during the Covid-19 pandemic, and notes Unilever responded to challenges with resilience.
2. Unilever met its objectives of volume-led competitive growth and delivering underlying operating profit and strong free cash flow despite difficult conditions.
3. Shareholders overwhelmingly approved Unification, simplifying Unilever's legal structure under a single parent company, Unilever PLC.
4. The Board will propose changes to Directors' remuneration policy to enhance incentives and drive long-term sustainable growth.
5. Unilever will voluntarily put its climate transition
This document provides an overview of China's cosmetics market in 2011. It discusses the market size reaching 110.3 billion yuan, an 18.7% increase from 2010. It also examines distribution channels like department stores, supermarkets, and the growing popularity of online retailers. Rising costs are putting pressure on retailers as minimum wages and rents increase. Overall the market shows strong growth, especially in lower-tier cities, but first- and second-tier cities still capture over half of sales.
This document analyzes the state of eCommerce in Europe by benchmarking the top 200 online retailers across several countries and sectors. It finds that while eCommerce has grown significantly, there remain large differences between countries, sectors, and traditional retailers versus pure online retailers. Consumer electronics retailers generally excel at features for product discovery and comparison. While fulfillment capabilities are strong, mobile commerce support remains limited. Overall opportunities still exist for retailers to improve the customer experience and expand into new areas like mobile and social media.
Having achieved a market size of Approximately $185 Billion in total apparel sales in 2013, China is expected to become the world’s largest apparel market surpassing the US by 2018. Due to the nearly unlimited potential of the market it offers vast opportunities for foreign fashion brands wishing to develop their international business.
Retailing involves selling goods and services to consumers in small quantities. It serves several functions like deciding on product assortments, breaking bulk, display, inventory holding and additional services. Special characteristics of retailing include the retailer's strategy. There are various types of retailers worldwide like independent, chain, franchised and consumer cooperatives that offer different merchandise through stores like convenience stores, supermarkets, hypermarkets and more. Technology plays a key role in retailing by enabling integrated systems, networking, electronic data interchange, bar-coding, electronic article surveillance and electronic shelf labels to help control inventory and make merchandising decisions across multiple retail outlets.
SCL Antwerp - Patrick Dittli, Global Director Supply Chain, Metro Cash & CarryGlobal Business Intel
This document discusses improving connectivity and customer centricity across the supply chain at Metro Cash & Carry. It identifies that the retail game has changed with increased online shopping and on-demand delivery, posing challenges to traditional brick-and-mortar retailers. The document advocates taking a cross-functional approach to break down silos and focus on customers, products, and suppliers through connected processes. It presents connectivity methodology including mapping current pain points, prioritizing issues, finding solutions, and implementing changes. Key areas identified for initial focus are order management, product lifecycle management, and promotion management.
Vietnam's rapid urbanization has opened the opportunity for CVS and Minimarket/Food Store to thrive.
The CV-19 pandemic has proved the potential of this retail format.
Non-store retailing involves sales made directly to consumers without using physical stores. It includes direct marketing through methods like telemarketing, direct mail, and e-commerce. Non-store retailing offers consumers convenience through purchases made 24/7 via phone or online. It now accounts for over 15% of all consumer purchases and is growing at a higher rate than traditional retail stores. Common non-store retailing methods include direct marketing, direct selling, vending machines, and kiosks.
Convenience stores in some countries have had a strong food-to-go offer for many years (e.g. USA). But food-to-go has been a relatively new development for operators in other countries, including the UK.
The document discusses organized and unorganized retailing. It defines retailing as the sale of goods or merchandise from a fixed location in small quantities for direct consumption. The major types of retailing are markets, shops/stores, and virtual retail using mail, phone or online ordering. Organized retailing in India is growing rapidly at 25% annually and is expected to increase from $7.5 billion currently to $21.5 billion by 2010 due to changing lifestyles, income growth, and favorable demographics.
China's ecommerce market is growing rapidly, particularly in smaller cities, with online sales expected to reach nearly 30% of all retail sales by 2018. Mobile commerce is also rising quickly, with over 90% of online transactions occurring through marketplaces like Taobao and Tmall, which are dominated by Alibaba. Cross-border ecommerce from overseas sellers into China is also increasing as Chinese consumers demand more imported products and spend more on foreign brands.
The document outlines Metro Cash & Carry's operations in Pakistan. It discusses Metro's mission to be a one-stop wholesale shop providing quality products at low prices to professional customers like hotels and restaurants. Metro aims to improve customer competitiveness through its efficient supply chain and product range across categories like food, non-food, household goods and office equipment. The document highlights Metro's strengths like low prices, wide variety, business solutions under one roof and efforts to develop local suppliers and careers.
Non-store retailing involves selling goods and services without a physical store, such as through vending machines, direct-to-home selling, telemarketing, catalog sales, mail order, and television marketing. It is a fast-growing method that allows customers to purchase items from their homes. While most retail transactions still occur in physical stores, non-store sales now account for almost 20% of total retail trade. The main types of non-store retailing include direct selling, telemarketing, online retailing, automatic vending, direct marketing, and electronic retailing.
Metro AG is a German international wholesale and retail company founded in 1964 that operates cash and carry wholesale stores, supermarkets, consumer electronics stores, and department stores across Europe, Asia, and Africa, generating over €31 billion in annual revenue. The document discusses Metro's operations model for its Metro Cash & Carry wholesale stores, entry into the Indian market, a PEST analysis of factors impacting operations in India, and recommendations for improving its Indian business. Metro Cash & Carry aims to provide bulk goods and supplies to business customers through a self-service wholesale store format.
Fashion Trends and Business Opportunities in South Korea - SummaryBusiness Finland
The document provides an overview of the fashion market in South Korea, including business opportunities for Finnish companies. It discusses the growing Korean economy and demographics, noting trends toward single-person households and increased online shopping. Major distribution channels like department stores and online retailers are analyzed. The market is segmented into clothing, shoes/bags/watches, and home furnishings. Overall opportunities exist in casualwear, sportswear, bags, and Nordic lifestyle products due to their simplicity and sustainability. Finnish companies should consider online channels and curation services to target younger consumers in South Korea.
This document summarizes FMCG market trends in Vietnam for the period ending January 26, 2014. It finds that Vietnam's GDP and inflation rates improved in 2013. The FMCG market saw strong growth during the peak spending season of Tet, with rural areas seeing 22% value growth. Beverages was the leading category in both urban and rural areas. Confectionaries, such as candies in urban and biscuits in rural, were the hottest categories. Retail outlets like street shops saw significant growth during Tet celebrations.
The document provides an analysis of opportunities for Finnish fashion brands in the Chinese market. It summarizes key details about China's geography, economy, apparel market size, top performing brands and categories. Distribution channels like department stores, shopping malls, specialty stores, and online sales are growing rapidly. New opportunities exist in tier 2/3 cities and among men's fashion. Digital marketing and multi-brand boutiques are also expanding in China.
Vietnam's retail sector is dominated by traditional wet markets but modern retail is growing rapidly. Modern retail sales have increased 124% from 2011-2015 while traditional retail growth is declining. Rising incomes and an urbanizing population are fueling demand for supermarkets and convenience stores. Consumer spending is also driven by increasing health consciousness and less influence from children as families have fewer dependents.
Presentation on different types of retailing formatsMobin Francis
This document summarizes different types of retailing formats. It describes general stores, mom-and-pop shops, and variety stores as suitable options for new entrants with limited financial resources. Department stores and convenience stores are presented as options for those with adequate funds but limited retail knowledge. Supermarkets and hypermarkets are identified as formats suitable for foreign players entering the Indian market. The document is presented by Mobin Francis and provides an overview of various retail formats.
Report -The Viability Of Liverpool Retail India LtdNikita Sanghvi
Through the market survey and personal interviews I suggested a new financial proposal for the Liverpool Retail India Ltd. My suggestions included that the company should keep their merchandise in the new format of retail outlets i.e. Large Format Stores
The document provides an overview of the retail industry. It discusses the evolution and history of retail, the major retail store formats, demand and supply drivers, key metrics like same store sales and inventory turnover, the top 10 retailers globally which are mostly American companies, and the retail industry and major players in India. It also covers retail pricing strategies, how products are transferred to consumers, challenges facing the Indian retail industry, and the foreign direct investment policy regarding retail in India which currently only allows 100% FDI in wholesale cash and carry and 51% in single brand retail.
The document provides information about the retail industry in India. It begins with definitions of retail and describes various retail formats in India such as department stores, category killers, malls, discount stores, supermarkets, street vendors, hypermarkets, kiosks, mom-and-pop stores. It then discusses the size and growth of the Indian retail market and some of the major Indian and foreign retailers operating in the country. It concludes with an overview of the main segments in Indian retail in 2012 and descriptions of leading Indian retailers Future Group and Future Lifestyle Fashions.
The document provides an overview of the global retailing scenario and its future. It discusses the evolution of retailing formats in India from traditional mom and pop stores to modern hypermarkets and malls. FDI in Indian retailing is currently restricted but expected to grow the sector significantly. The changing Indian consumer and anticipated growth of the Indian retail market present opportunities for both domestic and global retailers.
Retail involves the sale of goods and services from businesses and individuals to end users. Retailers purchase products in large quantities from manufacturers and then sell smaller quantities to consumers for a profit. Retailing can occur in fixed locations like stores or markets, through door-to-door sales, or delivery. There are many types of retailers including independent stores, chains, franchises, cooperatives, convenience stores, supermarkets, department stores, discount stores, catalog/telephone retailers, vending machines, and e-retailers. Retail formats range from small mom-and-pop shops to large hypermarkets.
This document provides an overview of the retail market in India. It discusses different types of retail formats including department stores, discount stores, warehouse stores, convenience stores, hypermarkets, supermarkets, and e-tailers. It also covers various retail marketing techniques like internet marketing, direct marketing, word-of-mouth marketing, and public relations marketing. Additionally, it discusses the 7Ps of marketing which includes product, price, promotion, place, people, process, and physical evidence. The document aims to give readers an understanding of the Indian retail landscape and important retail marketing concepts.
This document provides an overview of the retail market in India. It discusses different types of retail formats including department stores, discount stores, warehouse stores, convenience stores, hypermarkets, supermarkets, and e-tailers. It also covers various retail marketing techniques like internet marketing, direct marketing, word-of-mouth marketing, and public relations marketing. Additionally, it introduces the 7Ps of marketing which are important considerations for retailers - product, price, promotion, place, people, process, and physical evidence. The document aims to give readers an understanding of the Indian retail landscape and key aspects of retail marketing.
This document discusses the retail industry in India. It provides background on the traditional unorganized retail sector in India and the recent growth of organized retail. Key points include:
- Traditionally, retail in India consisted of many small, independent shops but organized retail is growing, encouraged by large private investments.
- The retail market in India is estimated at $470 billion currently and expected to reach $533 billion by 2013, with organized retail growing from 5% to 10% of the market.
- Major players expanding organized retail in India include Pantaloon, Shopper's Stop, Westside, Big Bazaar, Reliance Retail, and Bharti-Walmart joint ventures.
A global marketing strategy (GMS) is a strategy
that encompasses countries from several
different regions in the world and aims at coordinating
a company’s marketing efforts in
markets in these countries.
A GMS does not necessarily cover all countries
but it should apply across several regions.
A typical regional breakdown is as follows:
Africa, Asia, and the Pacific (including Australia)
Europe and the Middle East, Latin America, and
North America. A ‘‘regional’’ marketing strategy
is one that coordinates the marketing effort in
one region.
A GMS should not be confused with a global
production strategy. Outsourcing and foreign
manufacturing subsidiaries, common features
of a global production strategy, can be used
with or without a GMS for the finished products.
As listed in Table 1, GMSs can involve one
or more of several activities.
The coordination involved in implementing
a GMS unavoidably leads to a certain level
of uniformity of branding, of packaging, of
promotional appeal, and so on (Zou and
Cavusgil, 2002). This also means that a GMS,
in some ways, goes counter to a true customer
orientation (see MARKETING PLANNING). The
product and marketing mix are not adapted
to local preferences, as a customer orientation
suggests. This is a potential weakness of GMSs,
Table 1 Components of a global marketing
strategy.
Items Listed in Order of Descending Occurrence
• Identical brand names
• Uniform packaging
• Standardized products
• Similar advertising messages
• Coordinated pricing
• Synchronized product introductions
• Coordinated sales campaigns
and leaves opportunities open for local products
and brands.
As the notion of integrated marketing
communications (see INTEGRATED MARKETING
COMMUNICATION STRATEGY) suggests,
the ensuing consistency can have positive
revenue benefits because of reinforcement of a
unique message, spillovers between countries,
and so on. But the main driving force behind
the adoption of a GMS is the scale and
scope of cost advantages from such uniform
marketing strategies. These cost advantages
include elimination of unnecessary duplication
of effort, savings on multilingual and same-size
packaging, use of the same promotional material,
quantity discounts when buying media, and so
on. The pros and cons of a GMS are given in
Table 2.
THE ORGANIZATIONAL CONTEXT
Firms typically contemplate adopting a more
coordinated GMS, once they have significant
presence in several countries and regions. Since
local markets will never be exactly the same,
a proposed global strategy will generally not be
welcomed by the country managers. The existing
local operations will have to be convinced to
adopt the new global strategy. Thus, a GMS
is always top-down, not bottom-up, and it is
easy for antiglobalization sentiments to stir even
within a multinational company.
The typical solution to this problem is to allow
country managers to be involved in th
This document provides an overview of retail management. It discusses various retail formats including traditional small stores, consumer cooperatives, and modern large format stores. It also covers the emergence of shopping malls in India. Franchising is explained as a method of business expansion where a franchisor allows others to use their brand name and systems. Key advantages like ready business models and disadvantages like high startup costs of franchising are mentioned. The document also briefly discusses legal issues and management aspects of retail operations and malls in India.
Retail involves the sale of goods and services to end users. Retailers purchase products in bulk from manufacturers and then sell smaller quantities to consumers for a profit. Retailing can be done in fixed locations like stores, door-to-door, or online. Common retail outlets include department stores, discount stores, supermarkets, convenience stores, and online retailers. Retailers aim to attract different customer demographics and can specialize in specific product categories or adopt various pricing strategies.
Retail involves the sale of goods and services to end users. Retailers purchase products in bulk from manufacturers and then sell smaller quantities to consumers for a profit. Retailing can be done in fixed locations like stores, door-to-door, or online. Common retail outlets include department stores, discount stores, supermarkets, convenience stores, and online retailers. Retailers aim to attract different customer demographics and can specialize in specific product categories or adopt various pricing strategies.
Key Sectors of Indian Retail and FDI in Indian RetailMegha Anilkumar
The document discusses the key sectors of the Indian retail market. It outlines sectors such as fashion/fitness/personal care, health/pharmaceuticals, entertainment, food/grocery, and consumer electronics. It provides details on popular retailers in each sector and notes that while retail provides economic opportunities, there are also concerns about potential job losses if foreign direct investment leads large retailers to dominate the market.
This document discusses retail management and visual merchandising. It provides information on different types of retailers like organized vs unorganized retailers, and retail formats like department stores, boutiques, and warehouse stores. It also discusses key aspects of retail management like service quality, buying and assembling products, warehousing, selling, financing, and market research. Visual merchandising aims to attract customers and increase sales through creative displays, lighting, and product placement. The tasks of visual merchandisers include designing displays, obtaining props, and maintaining merchandise presentation.
Study material retail concept and practicesSwatiYadav163
This document discusses retail concepts and practices. It covers several topics related to retail management including the concept of retailing, types of retailers like department stores and convenience stores, and retail formats such as stores, catalogs, and internet. It also discusses the importance of retailing in shaping lifestyles and contributing to the economy. Retailing is an important industry that involves the sale of goods and services to consumers.
Consumers satisfied with the store’s service quality are most likely to remain loyal. Service quality is being increasingly perceived as a tool to increase value for the consumer; as a means of positioning in a competitive environment to ensure consumer satisfaction, retention and patronage. Much of the attention focused on the service quality construct is attributable to the SERVQUAL instrument developed by Parasuraman, Zeithaml & Berry (1988) for measuring service quality.
1. Walmart is the largest retailer in the world based on revenue, followed by Carrefour and Tesco.
2. India's retail market is growing rapidly and estimated to reach $865 billion by 2023, with food and grocery having the largest share.
3. Retailers add value by breaking bulk, holding inventory, providing services, setting prices, and creating an atmosphere to satisfy consumer needs.
This document provides an overview of agricultural marketing in India. It defines agricultural marketing and outlines the various classifications of agricultural markets based on location, area coverage, time span, transaction volume, nature of transactions, number of commodities traded, degree of competition, and level of public intervention. It also describes the primary and secondary marketing functions and the private agencies involved in agricultural marketing. Finally, it discusses agricultural marketing channels, innovative direct marketing approaches, and the needs and types of agricultural credit.
1. The document discusses rural marketing in India, defining rural areas as villages with populations under 5,000 and where 75% of males work in agriculture.
2. It outlines key features of rural markets like their large, scattered size; diverse socioeconomic backgrounds; changing demand patterns; and infrastructure challenges. Rural incomes primarily come from agriculture and standards of living are generally low.
3. Strategies for rural marketing success include ensuring product availability, affordability, acceptability, and creating awareness through village events and unconventional media. Small pack sizes, sturdy designs, and brands represented through symbols are recommended.
1. Markets can be classified in various ways including by location, area, time span, volume of transactions, nature of transactions, number of commodities traded, and degree of competition.
2. Key types of markets by location are village markets, primary and secondary wholesale markets, terminal markets, and seaboard markets.
3. Markets also differ based on whether they involve short-term, long-term, or secular transactions, as well as whether transactions are wholesale or retail in volume.
This document discusses how commodities have emerged as a distinct asset class with the advent of commodity futures markets. It notes that commodity futures allow individual investors to participate in commodities through leverage. Commodities offer advantages like leverage, liquidity, returns, diversification, and inflation hedging which make them an attractive asset class. However, commodities in India are still highly correlated with equities, contradicting their diversification benefits in developed markets. Overall, the document analyzes how commodity futures have simplified participation in commodities and the characteristics that establish them as a distinct investment class.
This document provides guidelines for preparing final manuscripts accepted for publication in the International Journal of Agriculture and Environmental Research. It describes the formatting requirements, including:
- Using a double-spaced two-column format in Times New Roman font.
- Placing the title and authors' names in bold 16 pt and 12 pt font respectively, with authors' affiliations below.
- Limiting the abstract to 50-200 words in bold 12 pt font and including 5 keywords in alphabetical order.
- Structuring the body with clearly labeled sections, subsections, and conclusions, avoiding more than one subsection level deep.
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4. 3
TABLE OF CONTENTS
INTRODUCTION 5
1. TYPES OF RETAIL STORES 7
2. GLOBAL FOOD RETAILING AT A GLANCE 9
2.1 Retail trade by type of store
2.2 The world’s leading retailers/chains
2.3 Retail trade expansion in emerging markets
2.4 Retail private labels
3. COSTS AND MARGINS 15
4. OTHER MAJOR PRE-INVESTMENT CONSIDERATIONS:
CONSUMERS AND MARKETS 17
5. RETAILTRADE DEVELOPMENTS INTHE EARLY
TRANSITION COUNTRIES ANDTHE WESTERN BALKAN
COUNTRIES 19
5.1 Major retail chains in ETCs and WBCs
5.2 Major sector trends and developments in WBCs
5.3 Major sector trends and developments in ETCs
6. FURTHER READING AND INFORMATION 27
7. STATISTICAL DATA 29
6. 5
INTRODUCTION
The retail sector is responsible for the sale of food and non-food items, for
personal or household consumption, which require little or no additional
step in the food value chain. Sometimes food stores have in-store bakeries,
delicatessens, and meat packaging facilities and provide wide selections of
ready-made food, not only for the end consumer but also for other shops,
department stores, kiosks, hotels, and restaurants.
Food retailing accounts for approximately 40% of all retail sales worldwide but,
with time, most traditional food retailers1
expand their businesses to include
non-food retailing. This handbook focuses predominantly on food retailing and
does not attempt to cover other major retail product categories, such as: home
furniture and related household goods (about 10% of all sales); clothing and
footwear (8–9%); leisure goods, health, and beauty products (approximately
7% each); or other non-food products. However, since the distinction between
food and non-food retailing is becoming increasingly unclear due to the
the information provided in this report applies to the entire retail trade sector
unless the food retail sector is explicitly mentioned.
In contrast with the retail sector, wholesalers purchase large quantities of
goods for further sale to processors or retailers and not to end consumers.
Wholesale trade usually involves/requires the issuing of commercial invoices.
In the formal retail sector, cash receipts issued at the counter are the only
wholesale trade in their legislation. To protect traditional small retailers from
the increased competition arising from modern retail networks, some countries
have also established strict regulations regarding retail store locations,
opening hours, the maximum number of working days per year (including
during weekends), and other constraints. In countries with a mature retail
sector, competition in a given area may be regulated by anti-trust or similar
legislation.
1. Traditional retailers such as supermarkets, discounters, convenience stores and others which
began by selling primarily food products.
7.
8. 7
1. TYPES OF RETAIL STORES
The food retail industry covers a broad range of stores and outlets involved
in the selling of products to consumers. In most cases, the modern retail
trade includes hypermarkets, supermarkets, grocery stores, convenience
often called food specialist stores) that are either independent businesses or
parts of retail networks. The following terminology is generally accepted to
distinguish different types of food retailers.
A hypermarket is a store with a sales area of over 2,500 m2
with at least 35%
of selling space devoted to non-food items. Sometimes, hypermarkets are
also called “super stores”, a combination of a supermarket and a department
store. Hypermarkets are usually located in suburbs due to the limited space
availability in city centres and the need for large parking areas for shoppers.
Sometimes, hypermarkets are located close to residential areas and can
be adjacent to shopping centres which sell consumer electronics, furniture,
durable and leisure goods, etc).
A supermarket is a store with a sales area of typically 400 to 2,500 m2
with
at least 70% of its selling space dedicated to food products. This type of retail
outlet is the most common in WBCs and ETCs (Mercator in Bosnia, Almaly in
Azerbaijan, Green Hills in Moldova, etc.)
Discounters are stores which typically have a size of 300–900 m2
, have
less than 1,000 product lines (predominantly packaged food and non-food
products), and sell products at prices lower than those of traditional retail
stores. Some discount stores specialise in merchandise such as jewelry,
electronic equipment, etc. Goods in discount stores usually have own-label
or budget brands. Aldi, Lidl, Netto, Norma, Penny and Eda are well-known
examples of this type of retail outlet. Hura!, recently established in Slovenia,
is another example.
Convenience stores (C-stores) sell a wide range of goods with extended
opening hours. A convenience store is often located alongside busy roads
or near gas stations, railway stations, or in densely-populated urban areas.
Product selection is limited compared to supermarkets and, in many stores,
only one or two choices are available for each type of product. Prices in
convenience stores are typically higher than in supermarkets. The 7-Eleven
stores are probably the best example of convenience stores.
9. 8
Independent grocers do not belong to chain stores, have selling space of less
than 400 m2
, and usually specialise in packaged groceries. Food accounts for
at least 50% of total retail sales. Sometimes, independent grocers specialise
in one type of product, e.g. meat.
Free-standing food specialists
are often independent and are usually considered traditional retailers. Often,
these retailers operate on open markets or have free-standing retail sales
points.
Industry specialists also distinguish the following trade outlet formats (mixed
retailers and non-food retailers):
department stores: these usually have a sales area above 2,500 m2
with
mostly non-food goods;
cash & carry: goods are sold from a wholesale warehouse to customers,
retailers, professional users, caterers, institutional buyers, etc. who are
usually issued a commercial invoice on the spot and carry the goods away
by themselves;
variety stores/mass merchandisers: these sell predominantly fast-moving
consumer goods (FMCG2
) on a self-service basis;
specialised stores: these sell electronics, construction materials, furniture,
and other goods and do not specialize in food;
vending machines: sales of packaged food and drinks through machines;
kiosks: these are located in streets, parks, or sleeping quarters are still
popular in ETCs. Depending on local regulations, some are allowed to sell
alcohol;
retail markets: these are dedicated sales points, usually managed by
municipal authorities, with individual vendors selling directly to end
consumers;
alternative selling channels: these include internet sales, mail orders,
television shopping and other sales through independent agents and/or
distributors directly to the consumer.
2. FMCG are products that are sold quickly at relatively low cost such as toiletries, soap,
cosmetics, teeth cleaning products, shaving products and detergents, as well as other non-
durables such as glassware, light bulbs, batteries, paper products and plastic goods. FMCG
may also include packaged food products and drinks, although these are often categorised
separately.
10. 9
2. GLOBAL FOOD RETAILING AT A GLANCE
2.1 Retail trade by type of store
World food retail sales, as captured by Euromonitor International, increased
from EUR 100 billion in 2002 to 110 billion in 2007; with supermarket, small
grocery retailer, hypermarket, and discounter sales increasing by 2–3% per
year on average, or 14–17% throughout the 2002–2007 period. In contrast,
stores specialising in the sale of drinks, tobacco, and other food specialties
experienced a decline in sales over the same period.
Table 1:Distribution of food sales by different types of retail format, EUR
million
2002 2003 2004 2005 2006 2007
EUR, M Share, % EUR, M EUR, M EUR, M EUR, M EUR, M Share, %
Supermarkets 31,294 31% 32,590 33,307 34,802 34,657 35,606 32%
Small grocery
retailers
22,656 23% 23,053 23,419 24,473 25,554 26,527 24%
Hypermarkets 19,588 20% 20,724 21,185 21,738 20,857 20,705 19%
Food/drink/
tobacco
specialists
17,172 17% 17,074 17,188 17,166 17,060 17,007 15%
Discounters 7,189 7% 7,202 7,562 7,641 7,888 8,213 7%
Source: Euromonitor International data
The expansion of formats such as convenience stores in many developed
countries has been supported by restrictions on the development of large-
scale outlets due to concerns about the environment and competition. As a
result, even “big box” retailers—such as Wal-Mart and the Home Depot—have
started to develop new, smaller store formats for urban areas.
Europe and North America are the two most important regions, generating
about 60% of all world retail sales. As a single country, the United States
has the largest retail market in the world. Ninety-three out of the 250 largest
retailers are US-based companies.
11. 10
Figure 1: Geographical distribution of all retail sales and average annual
sales per company (2006)*
No. ofNo. of
compacompa--
niesnies
Avg salesAvg sales
per company.per company.
(USD mln)(USD mln)
Top 250**Top 250** 250250 12,98512,985
Africa/Middle EastAfrica/Middle East 44 4,7384,738
Asia/PacificAsia/Pacific 4242 8,0138,013
JapanJapan 2929 7,4487,448
EuropeEurope 9191 14,07514,075
FranceFrance 1313 23,44423,444
GermanyGermany 1818 19,73219,732
UKUK 2020 13,38413,384
Latin AmericaLatin America 99 4,4264,426
US** (excl. direct sales)US** (excl. direct sales) 9393 15,89915,899
Source: Deloitte, *250 largest retailers only
2.2 The world‘s leading retailers/chains
The share of the top ten world retailers continues to increase in global retail
trade, according to Deloitte analysts3
. With combined sales of about USD
980 billion in 2006 (food and non-food retail sales) and a healthy rise of 10%
during 2005, the world’s 10 largest retailers captured 30% of the sales of the
250 largest retailers (+1% increase in share as compared with 2005). Wal-
Mart, a US company, was the largest retailer in the world with annual sales of
USD 345 billion4
, with French group Carrefour far behind with USD 98 billion
in sales. While there is increasing concentration in global retail trade, the top
10 retailers in Brazil held 21% of total retail sales in 2006, while in Russia and
the world’s most fragmented, as the share of chains in total retail sales was
almost negligible (Euromonitor International), although there has been growth
in the supermarket sector.
3. See: http://www.deloitte.com/dtt/cda/doc/content/de_CB_R_GPofRetailing08_140108%281%29.pdf
4. See: 2007, http://walmartstores.com/Investors/7666.aspx
Canada, 3%
US,
46%
Africa, 1%
Japan, 7%
France, 9%
Germany,
11%
UK, 8%
Other
Europe, 11% Latin
America, 2%
Other
Asia/Pacific, 4%
12. 11
Table 2: Top 5 global retail leaders
Name of
company/
Country
of origin
2006 retail
sales
(USD M)
Formats Countries of operation
2001–
2006
retail
sales
CAGR*
Wal-Mart
Stores,
Inc. / USA
344,992
Cash & Carry/Warehouse
Club, Discount Department
Store, Hypermarket/
Supercenter/Superstore,
Supermarket
Argentina, Brazil, Canada,
China, Costa Rica, El Salvador,
Guatemala, Honduras, Japan,
Mexico, Nicaragua, Puerto Rico,
UK, USA
11.10%
Carrefour
S.A./
France
97,861
Cash & Carry/Warehouse
Club, Convenience/
Forecourt Store, Discount
Store, Hypermarket/
Supercenter/Superstore,
Supermarket
Algeria, Argentina, Belgium,
Brazil, China, Columbia,
Dominican Republic, Egypt,
France, French Polynesia,
Greece, Guadeloupe, Indonesia,
Italy, Malaysia, Martinique,
Oman, Poland, Portugal, Qatar,
Reunion, Romania, Saudi Arabia,
Singapore, Spain, Switzerland,
Taiwan, Thailand, Turkey, Tunisia,
UAE
2.30%
The Home
Depot,
Inc./USA
90,837
Home Improvement, Non-
Store
Canada, China, Mexico, Puerto
Rico, US, Virgin Islands
11.10%
Tesco plc/
UK
9,976
Convenience/Forecourt
Store, Department Store,
Discount Department
Store, Hypermarket/
Supercenter/Superstore,
Supermarket
China, Czech Rep., Hungary,
Japan, Rep. of Ireland, Malaysia,
Poland, Slovakia, S. Korea,
Thailand, Turkey, UK
12.50%
Metro AG/
Germany
4,857
Apparel/Footwear Specialty,
Cash & Carry/Warehouse
Club, Department Store,
Electronics Specialty,
Hypermarket/Supercenter/
Superstore, Other
Specialty, Supermarket
Austria, Belgium, Bulgaria, China,
Croatia, Czech Rep., Denmark,
France, Germany, Greece,
Hungary, India, Italy, Japan,
Luxembourg, Moldova, Morocco,
Netherlands, Poland, Portugal,
Romania, Russia, Serbia and
Montenegro, Slovakia, Spain,
Sweden, Switzerland, Turkey,
Ukraine, UK, Vietnam
4.00%
mean growth rate on an annualised basis
Source: Deloitte
13. 12
2.3 Retail trade expansion in emerging markets
The sales growth of most retailers accelerated between 2003 and 2008 due
to expansion into emerging markets, with China and Russia proving to be of
particular interest and attracting investment from many of the world’s leading
companies, including Wal-Mart, Tesco, Home Depot, Auchan, Metro, and
others.
Carrefour, Tesco, Metro, Schwarz, Aldi, Rewe, Auchan, Edeka Zentrale, E.
Leclerc, and Ahold are the leading food retailers in Europe. Due to a recent
slowdown in the growth of European retailers, especially those based in the
saturated markets of Western Europe, French and German companies in
particular have expanded their operations far beyond their own countries. On
average, French companies had retail operations in 15 countries in 2006.
German retailers were doing business in 14 countries on average. The
in one or two countries only.
Russia, China, and India have been the fastest growing retail markets in
recent years. The markets in these countries grew by an estimated 10–14% in
2001–2006 (shown on the left axis of the graph below). Although retail sales in
these three countries appear to be relatively small in size, these countries are
forecast to remain the world’s fastest growing retail markets with 6–7% annual
growth in 2001–2006 (lower axis of the graph below).
Figure 2: Relative market value in USD and the compound annual growth
rate (CAGR) for: 2001–2011 fastest growing markets
UK
-1.0 0.0
-5.0
0.0
HistoricGrowthCAGR2001-06
Forecast Growth CAGR 3006-11
5.0
10.0
15.0
20.0
1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0
US Mexico Brazil Germany India Cina RussiaFrance Japan
Source: Euromonitor International
14. 13
In 2006, the Russian X5 Group5
entered the list of top 250 global retailers,
ranking 191st
with sales of USD 3.5 billion and an income of USD 103 million.
The X5 Group is now the second food retailer from Central and Eastern Europe
after CBA Kereskedelmi Kft, from Hungary, which also entered the list of top
250 largest retailers in 2006, ranking 180. CBA has stores in Bulgaria, Croatia,
Hungary, Lithuania, Romania, and Slovakia.
Emerging markets in Central and Eastern Europe have shown a clear tendency
towards growth and increased consolidation over recent years. Growth and
consolidation trends will most likely continue into the foreseeable future. The share
of independent stores in retail trade declined by 13–22% in Slovakia, Romania,
Bulgaria, Hungary, Poland, Russia, and other emerging markets in 2006, as
compared with 2000. The number of retailers on these markets is expected to be
further reduced by the entry of major international retail chains, along with mergers
and acquisitions which are taking place among local companies.
Table 3: Declining share of independent grocers in emerging markets in
2000–2006
Country
% of total grocery
retailing 2000
% of total grocery
retailing 2006
Percentage change
Slovakia 57.6 35.5 -22.1
Romania 40.4 22.1 -18.3
Bulgaria 68.8 52.3 -16.5
Hungary 28.5 13.6 -14.9
Poland 55.8 42.6 -13.1
Russia 43.6 31 -12.6
Source: Euromonitor International
Table 4: Concentration of food retailers per 1 million inhabitants in
selected countries (2007)
Country
Number of stores per
1 mln population
Country
Number of stores per
1 mln population
Slovakia 5,111 Russia 2,269
Bulgaria 4,870 France 2,259
Italy 4,560 Czech Republic 1,982
Poland 4,402 Ukraine 1,298
Romania 3,500 USA 1,006
Source: Euromonitor International
5. The X5 Group was formed in May 2006 through the merger of Pyaterochka and Perekrestok,
two leading Russian chains. With stores in 22 regions of the Russian Federation in addition to
stores in Kazakhstan and the Ukraine, the X5 Group is believed to be the largest multi-format food
retailer in Russia.
15. 14
2.4 Retail private labels
The expansion of major retail chains has spurred a rapid development of
the private label product6
segment. Private label products were initially used
primarily in the context of the major retailers’ pricing strategies and targeted
mainly low-income consumers.
Currently, private label products have established their strongest position in
developed markets, where major retail chains have achieved their deepest
penetration. Private label products enjoy a higher share in the UK, Germany,
Canada, France, and Spain. The product groups with the highest share of
private label are packed food, soft and hot drinks, and household care. For
example, the private label share of packed food accounts for 35.2%, 24.9%,
and 18.0% respectively in the UK, Germany and France, while the private
label share of soft drinks accounts for 31.5%, 27.4%, and 16.7% respectively
in the UK, Germany and Canada (Euromonitor International 2005).
Private label products account for a much smaller share of sales in developing
markets. For countries7
such as China, India, Poland, Mexico, and Brazil, the
share of all label products for all the above-mentioned product groups does
not exceed 5% and, in most cases, is close to or lower than 1% (Euromonitor
International). However, as multinational retailers make inroads into emerging
markets, the availability of private label products is expected to increase in
the medium term. It is expected that private label products are going to play
an increasingly important role in retailers’ development strategies in the WBC
and ETC countries.
Table 5: Private label share of global value sales (%)
Packaged food 12
Pet food and pet care products 10
Hot drinks 7
Household care 7
Soft drinks 7
OTC healthcare 6
Cosmetics and toiletries 2
Alcoholic drinks 2
Domestic electrical appliances 1
Source: Euromonitor International
6. Private label products are typically those manufactured by one company (producer) for offer
under another company’s brand (retailer’s brand).
7. No data available on Western Balkan Countries.
16. 15
3. COSTS AND MARGINS
The retail food sector does not manufacture/produce goods, except in the
cooking, baking, retail packaging of salads, etc. Rather, the actual value-add
of the retail sector is the service of selling goods to consumers. The value of
retail price paid by the buyer and the cost of the goods purchased. The gross
margin must cover all expenses of the business including building investment
costs or property rent, labour, payroll, heating, electricity, building maintenance,
The gross margin and mark-up. The gross margin in food retail usually varies
by investors at the time of making investment decisions. In reality, in developed
markets such as Canada8
retailers (after tax deductions) rarely exceeding 5%. The developing markets in
Figure 3: Average sales growth and profitability by region/country
Source: adopted from Deloitte’s 2008 Global Powers of Retailing Report
Another term used in retail trade to describe the difference between the purchase
price of goods and the retail sale price expressed as a percentage is the mark-up
((( . The terms mark-up and gross margin are often used
interchangeably. However, investors should note that retailers often use the
term mark-up to establish retail prices from the wholesale price level. The mark-
it is always a larger number when compared to the gross margin.
8. See: http://www.ic.gc.ca/epic/site/retra-comde.nsf/en/h_qn00148e.html
17. 16
For instance, if the retail price of a food item is USD 2.00 and its purchase
cost is USD 1.50, the mark up is 33.33% (USD 0.50/USD 1.50) x 100%. On
the other hand, the gross margin is relative to the sales price and equals (USD
0.50/USD 2.00) x 100% = 25.00%.
The gross margin from trade is not the sole source of income for retailers. In
emerging markets, retailers also generate income from the following activities:
advertising and promotion activities for brand owners;
product placement charges;
retail chain entry fees;
reduced operating capital needs/cost due to supplier credit (producers/
wholesalers are often required to defer payments due from retailers).
of entry for suppliers. This is especially true for the fees charged by retailers to
alcohol producers in some markets in Europe and Central Asia (USD 5,000–
20,000 per brand of hard liquor per store). The retailers often impose long-term
credit terms on their suppliers and get immediate cash from their customers.
Therefore, the stores may often have negative working capital requirements
on which they can also make revenues.
Investment costs.
depending on retail outlet type, size, location and other factors. During the start-
up phase, the investment costs tied to the acquisition of land plots or property
rental are largely dependent on the store location (city centre vs. suburbs),
the availability of infrastructure/utilities (access roads, electricity, sewage
networks, etc.), and the cost of obtaining necessary permits (construction,
(M&E) and maintenance can be high in the case of food retailers (refrigeration
equipment, warehouse equipment, etc).
Figure 4: Capital investment and maintenance expenses in the Canadian
retail sector
Source: Industry Canada
18. 17
4. OTHER MAJOR PRE-INVESTMENT CONSIDERATIONS:
CONSUMERS AND MARKETS
Consumer incomes. Largely determine retail sales volumes. This is true
for both mature and developing retail markets. More information on the
relationships between consumer incomes and development of the modern
Consumers and local culture. The vast geographical and cultural diversity
in emerging market economies calls for a careful analysis of local tastes
and consumption habits. Flexibility and adaptability are therefore critical
when investing in emerging markets; in particular, companies must be ready
to experiment with formats and product mixes, although this can cause
implementation delays.
Car ownership.
ability of urban consumers to reach stores located outside of the city centre
and residential areas or the ability of rural consumers to reach the outlet. In
countries with low consumer incomes and a low average number of passenger
cars per household, it clearly cannot be expected that consumers will be able
to reach modern retail stores. The selection of appropriate locations is clearly
determined by parameters such as the average number of cars in use in the
geographical location of the store.
Table 6: Passenger cars per 1,000 households, 2006
Country No. of cars
USA 1,211
Russia 468
Brazil 390
India 53
China 39
Please refer to the Statistical Annexes Section for more information on car
ownership statistics in the WBC and ETC.
Demographictrendsandfemaleemployment.Trendsinfemaleemployment,
demography, and consumer lifestyles are taken into account at the time of
19. 18
retail investment planning. The creation of new employment opportunities for
women, the reduced size of households, the increased number of people living
alone, and other factors contribute to changing consumer lifestyles and the
emergence of modern retail formats. Changing lifestyles largely determined
the success of discounters and hypermarkets in Eastern Europe and the Asia-
and convenience stores led the growth elsewhere. Emergence of an urban
middle class in the major cities eventually leads to the consideration of other
Examples would be quality and convenience.
The supply side. In many countries, supply and distribution networks are not
true for food products in transition countries. A high reliance on imported
food products may put business at risk of facing import problems and/or
interference by government agencies. Possible costs related to maintaining
high inventories of goods over extended periods of time due to poor supply
chain organisation should be considered.
Retail sector staff training and retention. Investors in rapidly emerging retail
improving job opportunities and stiff competition in the industry. Therefore, staff
retention programmes (length of stay and performance bonuses) will have to
be considered at the time of investment planning in many emerging markets.
20. 19
5. RETAIL TRADE DEVELOPMENTS IN THE EARLY
TRANSITION COUNTRIES AND THE
WESTERN BALKAN COUNTRIES
The maturity of Western European and US markets and the growing saturation
of Eastern European markets (Poland, Czech Republic, etc.) are encouraging
global retailers to look at markets like China, Brazil, India, Russia and others.
However, not all retailers are able to invest in all existing emerging markets
simultaneously. Investment decisions by major retail networks are not based
capital for the entire company, and on the price of its shares on the market. As
of today, no retailer has been able to establish a world-wide presence.
Considering current market developments in other parts of the world, as well as
the overall market size in ETCs and WBCs and previous retailers’ experiences
in these countries, it is not likely that leading retailers will start investing in
these markets in the foreseeable future. Nevertheless, existing regional retail
networks from Russia, Kazakhstan, and Turkey (in the case of ETC) and
Central Europe and the Northern Balkans (in the case of WBC) may be more
willing to enter these markets. There is good potential for the development
of modern retail sectors in both the ETC and the WBC countries due to rising
consumer incomes, changing consumer preferences and lifestyles, and other
factors. It is also expected that modern retail will develop at the expense of
traditional open markets and kiosks. Geographically, it will continue developing
beyond major metropolitan areas to smaller cities in each country. This trend
has already been observed in Tirana and Yerevan.
Increase in consumer incomes has been the major driving force behind the
emergence of the modern retail trade formats, as illustrated in the example
of Central and Eastern Europe, below. Both WBC and ETC countries are
experiencing economic growth which will eventually spur the development of
modern retailers and gradually increase their sales.
21. 20
Figure 5: Income and growth of supermarkets in transition countries
GDP/capita (USD)
Shareofmodernretailintotal(%)
Source: Food Retail Growth and Farmers in Transition Countries, Johan
Swinnen, University of Leuven
Table 7: Per capita gross national income, USD
20002000 20012001 20022002 20032003 20042004 20052005 20062006 20072007 GrowthGrowth
Early Transition Countries (ETC)Early Transition Countries (ETC)
ArmeniaArmenia 660660 710710 800800 950950 1,1601,160 1,5001,500 1,9601,960 2,6402,640 300%300%
AzerbaijanAzerbaijan 610610 660660 720720 820820 950950 1,2701,270 1,8901,890 2,5502,550 318%318%
GeorgiaGeorgia 700700 680680 730730 860860 10501050 1,3301,330 1,6701,670 2,1202,120 203%203%
MongoliaMongolia 410410 440440 490490 560560 690690 810810 1,0001,000 1,2901,290 215%215%
MoldovaMoldova 370370 400400 460460 570570 720720 940940 1,0801,080 1,2601,260 241%241%
UzbekistanUzbekistan 630630 560560 450450 420420 460460 530530 610610 730730 16%16%
TajikistanTajikistan 180180 180180 180180 210210 280280 330330 390390 460460 156%156%
ETC avgETC avg 608608 617617 644644 719719 842842 1,0281,028 1,2801,280 1,6071,607 164%164%
Western Balkan Countries (WBC)Western Balkan Countries (WBC)
MontenegroMontenegro n/an/a n/an/a 1,7001,700 2,1902,190 2,8302,830 3,5603,560 4,4104,410 5,1805,180 205%205%
SerbiaSerbia n/an/a 1,4601,460 1,5901,590 2,1302,130 2,9702,970 3,5703,570 4,0304,030 4,7304,730 224%224%
BiH.BiH. 1,5601,560 1,6301,630 1,7501,750 2,0402,040 2,5402,540 2,9802,980 3,3303,330 3,7903,790 143%143%
MacedoniaMacedonia 1,8401,840 1,7201,720 1,7201,720 1,9801,980 2,4402,440 2,8102,810 3,1003,100 3,4603,460 88%88%
AlbaniaAlbania 1,1701,170 1,3301,330 1,3901,390 1,6501,650 2,0802,080 2,5702,570 2,9402,940 3,2903,290 181%181%
WBC avgWBC avg 1,5231,523 1,5351,535 1,6301,630 1,9981,998 2,5722,572 3,0983,098 3,5623,562 4,0904,090 168%168%
Source: own presentation based on World Bank data
22. 21
a lesser extent, in the WBCs, as consumers tend to spend a major part of their
income on food purchases. The shares of food and food products in the ETCs
right-hand graph below). However, this data should be treated with caution, as
It is expected that the share of food products in total retail trade in both the
ETCs and WBCs will decline as disposable consumer incomes grow.
Figure 6: Annual retail sales in selected ETC and WBC (M USD)
Bosnia and Herzegovina
Armenia
Serbia
Azerbaijan
Moldova
population and exchange rates.
Figure 7: Per capital retail sales in selected ETC and WBC (USD) and
share of food products in retail trade
ShareofFoodproductsinretailsales
Armenia
Azerbaijan
Moldova
Serbia, %
Armenia, %
Azerbaijan, %
BiH
Serbia
Moldova, %
population and exchange rates.
23. 22
5.1 Major retail chains in ETCs and WBCs
Retail companies in ETCs are generally smaller than in the Balkans. For
instance, Populi, the largest supermarket chain in Georgia, has an annual
turnover of USD 28 million (2007) as compared with the USD 1.8 billion
turnover of “Delta Maxi” (Delta M Group), which operates in Serbia, Bosnia and
Herzegovina, Montenegro and Bulgaria. The more advanced development of
retailers in WBCs as compared with ETCs is explained by higher consumer
incomes, the earlier commencement of regional expansion, the superior
development of supply networks and other factors.
More information on retail chains in ETCs and WBCs can be found on:
www.eastagri.org/agribusinesses.
Table 8: Major retail chains in some ETCs and WBCs
Country Major retail chains
Albania Euromax, Conad
Armenia Galaxy, Star, Yerevan City
Bosnia and Herzegovina Konzum, Merkator, Bartulo, Interex, Tropik (Maxi)
Georgia Populi, Goodwill
Kyrgyzstan Ramstor (Migros), Narodnyi, Stolichnyi,
Moldova Green Hills Market / Vistarcom, Fidesco
Montenegro Plus Commerce
Serbia Delta Maxi, Dis Trade, Idea, M-Rodi , Mercator-S, Univerexport
Macedonia Tinex-MT
Source: governmental agencies, Author’s calculation
5.2 Major sector trends and developments in WBCs
In recent years the following trends have been observed:
The retail trade sector is quite diverse in the Western Balkan countries
and the level of penetration of the modern retail chains varies considerably
between countries like Serbia and Albania.
In some regions of the WBCs, supermarkets (chains) have developed only
Conad, came into existence during the last 2–3 years.
During the 2003–2008 period, a rise in consumer purchasing power and
a burgeoning middle class created good opportunities for retail sector
development.
24. 23
EU accession perspectives for some WB countries also shape markets in
WBCs, as happened in more developed neighbouring markets such as the
Czech Republic, Hungary, and Poland.
Some retailers in WBCs have already developed a mix of retail trade types,
including more advanced formats such as hypermarkets. Recently, Euromax
was built in 2005 near Tirana.
The WBC region continues, nonetheless, to be supplied by relatively small
retail outlets. Despite some rare cases of hypermarkets and other large
projects, WBC markets are generally underserved by the modern retail
outlet formats.
Consolidation in the retail industry takes place with regional chains
expanding into smaller markets. For instance, in Bosnia and Herzegovina
alone, the retail chain VF Komerc, was acquired by Croatia’s Konzum
(Agrokor Group). In July 2007, the Serbian market leader Delta Maxi, the
retail subsidiary of Delta Holding, acquired the Bosnian retail chain Tropik.
25. 24
Case study: Albanian retail chain transformation
The Albanian retail sector is still dominated by traditional stores. Rapid urbanisation
and economic growth combined with foreign investments have only recently enabled
the emergence of the modern retail sector in Albania.
EUROMAX is the first and leading retail chain in Albania. The first Euromax
hypermarket was established in 2005 near Tirana. Following a EURO 8 million
loan by the EBRD in 2006, the retail chain expanded fast and now counts six
supermarkets in Tirana and three in other cities. Recently, Euromax was bought by
the leading Serbian retailer Delta Maxi, a part of Delta Holding.
The second leading supermarket chain is Conad, an Italian retail chain which
has operated in Albania since 2006. Conad now has six supermarkets in Albania,
concentrated mainly in Tirana.
Euromax provides a mixed portfolio of domestic and import agrifood products,
whereas Conad primarily sells foreign (Italian) products. Albanian agrifood products
are rarely found in these supermarkets.
There are several other retail chains which are Albanian owned but are of a smaller
size and have more limited geographical coverage. Examples are Big Market and
Extra, which are facing growing competition from the two leading supermarket
chains.
Despite fast expansion, supermarkets occupy a small share of the food retail sector
and are concentrated in major cities such as Tirana and Durres. Fresh fruit and
vegetables, dairy products, and meat are still largely sold in specialised traditional
stores and open markets, and wholesalers still play an important role in the sale
fruits and vegetables. However, the supermarket expansion in these main urban
areas has forced many small general stores out of business and many others are
struggling to survive.
In the coming years, the supermarket chain sector in Albania is expected to grow
substantially and have a greater impact on the overall agrifood chain in the country.
When supermarkets modernise their procurement systems, they require more
from suppliers with respect to volume, consistency, quality, costs, and commercial
practices. The highly fragmented Albanian system of agriculture will need to adjust
to market demand changes as only a small number of farmers will be able to meet
retailers’ volume and quality requirements.
26. 25
5.3 Major sector trends and developments in ETCs
So far, the retail trade sector has shown moderate growth in Armenia,
Azerbaijan, Kyrgyzstan, and Uzbekistan (see the left-hand graph below).
Retail trade trends in Georgia, Tajikistan, and Moldova have been unclear.
(right-hand graph below).
Figure 8: Changes in retail sales in selected EarlyTransition countries
Azerbaijan
%ascomparedwithpreviousyear
Kyrgyztan Turkmenistan Uzbekistan
Source: own presentation based on CIS Stat data
Figure 9: Resumption of retail sector growth in some countries after
the Russian Financial crisis (1999)
%ascomparedwithpreviousyear
Russia MoldovaGeorgia Tajikistan
Source: own presentation based on CIS Stat data
The role of traditional open markets remains quite important in ETCs
even in the relatively developed retail markets of Armenia and Azerbaijan.
27. 26
2002 to 36% in 2008; while in Azerbaijan, the share of traditional markets
increased from 32% to 35% during the same period. It is expected that the
role of traditional markets will remain important in the ETC countries in the
foreseeable future. Modern retail trade expansion will continue to develop,
initially at the expense of old store formats, kiosks, and other types of retail
trade.
As modern retailers emerge and develop in ETCs, the traditionally high
share of retail sales by open markets will fall. For instance, in the Russian
Federation, unorganised retail trade decreased from more than 50% in
1999 to no more than 25% in 2003. Though not on the same scale, other
developing markets in the region, including Ukraine, witnessed similar
developments. Trade development in ETCs will likely follow suit.
Most likely, the retail sector in the ETCs will follow the path of market
development previously seen in Russia and Ukraine: privatised food retailers
(ex-“gastronom”) operate for some time as independent food retailers and
are later converted into modern supermarkets or discounter formats, whilst
remaining privately-owned individual stores. With the expansion in retail
trade turnover, shops consolidate under a local chain/brand, leading to the
centralisation/rationalisation of procurement, logistics, administration, and
other functions. Typically, these emerging chains are then sold to a regional
retail chain.
More advanced retailers in some ETCs have already reached the stage
of creating their own national retail chains with multi store type/format. For
instance, the Star retail network in Armenia had 11 supermarkets until it
and selling 20,000 food and non-food products.
Local retailers in ETCs will eventually expand outside their capital and
major cities.
28. 27
6. FURTHER READING AND INFORMATION
EastAgri, retail: http://www.eastagri.org/
Planetretail: http://www.planetretail.net/
Euromonitor: http://www.euromonitor.com/Retailing
Deloitte: http://www.deloitte.com
FAO: http://www.fao.org/
9. Statistical Ahnnexes
29.
30. 29
7. STATISTICAL DATA
Table 9: Urban population, % of total population
1992 1995 2000 2005 2006 2007
ETCs
ARMENIA 67.5 66.3 65.1 64.1 64.0 63.9
AZERBAIJAN 53.7 52.2 50.9 51.5 51.6 51.8
GEORGIA 55.2 54.0 52.7 52.2 52.6 52.7
KYRGYZSTAN 37.8 36.3 35.4 35.8 36.0 36.1
MOLDOVA 46.8 46.3 46.1 46.7 42.3 42.0
TAJIKISTAN 31.5 28.0 25.9 24.7 26.4 26.4
UZBEKISTAN 40.1 38.4 37.3 36.7 36.7 36.8
MONGOLIA 57.0 56.8 56.6 56.7 56.9 57.0
WBCs
ALBANIA 36.4 39.1 41.8 44.8 45.4 46.1
BOSNIA AND HERZEGOVINA 39.2 41.1 43.2 45.7 46.3 46.9
MACEDONIA 57.8 60.7 62.9 65.4 65.9 66.4
SERBIA AND MONTENEGRO 50.9 51.4 51.6 52.2 n/a n/a
Sources: World Bank, Government Statistics and World Development Indicators
Table 10: Passenger cars, per 1,000 people (when available)
1992 1995 2000 2005 2006
ETCs
ARMENIA 0.7 0.5 n/a n/a n/a
AZERBAIJAN 34.0 36.2 42.0 57.0 57.0
GEORGIA 88.2 67.4 46.5 49.8 56.0
KYRGYZSTAN 47.3 43.0 38.6 39.0 39.0
MOLDOVA 51.0 38.2 54.0 70.0 84.0
TAJIKISTAN 0.3 0.2 19.0 n/a 19.0
MONGOLIA n/a 10.5 18.4 n/a 28.0
WBCs
ALBANIA 10.4 18.4 36.8 61.5 71.0
BOSNIA AND HERZEGOVINA 14.2 18.3 n/a n/a n/a
MACEDONIA 145.4 145.4 148.0 n/a 150.0
SERBIA AND MONTENEGRO 141.4 151.7 n/a n/a 204.3
Sources: World Bank, Government Statistics and World Development Indicators
31. 30
Table 11: Female employment, % of total employment (when available)
2002 2003 2004 2005 2006 2007
ETCs
ARMENIA 47.7 47.5 46.0 45.6 45.7 45.7
AZERBAIJAN 47.7 47.7 47.1 47.6 48.3 49.1
GEORGIA 48.1 47.2 48.0 47.5 47.3 47.9
KYRGYZSTAN 42.6 43.9 42.7 42.4 42.1 n/a
MOLDOVA 51.4 51.2 52.0 52.2 50.0 50.2
MONGOLIA 49.4 49.4 50.9 50.5 51.3 50.8
WBCs
BOSNIA AND HERZEGOVINA n/a n/a n/a n/a 34.9 34.3
MACEDONIA 38.9 40 38.7 39.1 38.3 39.2
SERBIA n/a n/a 41.7 40.2 40.9 41.8
Source: International Labour Organisation
Table 12:Share of total household expenditure on food,% (when available)
2002 2003 2004 2005 2006 2007
ETCs
ARMENIA 67.5 68.0 56.9 57.9 57.4 54.4
AZERBAIJAN 53.6 54.7 61.5 59.8 60.2 n/a
GEORGIA 52.1 53.1 53.6 50.4 50.6 48.3
MOLDOVA n/a n/a 56.4 54.2 44.4 n/a
TAJIKISTAN 80.7 75.2 73.3 72.1 57.8 58.4
WBCs
SERBIA AND MONTENEGRO n/a 42.5 39.9 42.3 39.0 n/a
Sources: FAO STAT, World Bank and Government Statistics