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RECESSION CHANGING SHOPPERSAND RETAILERS IN SPAIN
The recession is leading to changes in what has been one of Europe’s fastest growing retail markets. New research shows a significant shift in consumer shopping habits in Spain, and leading retailers are taking new strategies to succeed in a more price competitive marketplace
A study by TNS Worldpanel reports that shoppers are looking harder than ever for value, visiting more stores but purchasing fewer items when they go. Spanish consumers are shopping more often at discount stores and buying more private label products.
Traditional retailers are responding to these changes: Mercadona is restructuring its product and pricing strategy, cutting prices and reducing SKUs. The retailer has lowered prices on about 800 items, or nearly 10% of its product offer. Product assortment will be reduced, with an emphasis on slow-moving items and similar products that are offered under both manufacturer and retailer brands.
Eroski, the country’s largest supermarket retailer, will em-phasise its own brand. “Our su-permarkets carry a wide range of goods at competitive prices, with the Eroski brand representing excellent value. This remains the focus of our strategy,” a spokesperson said. The retailer’s new stores carry around 5,000 SKUs, including 1,000 private label products.
Makro reports that sales of its private label products in Spain increased by 26% in the past several months. The biggest increase has been recorded for frozen products, up more than 50%, with health and beauty items up 34%, and canned food ahead 19%.
El Corte Inglés recently launched Aliada, an economy food range. It consists of 200 items and may be expanded to as many as 400 items.
Consum, based in Valencia, plans to expand its private label ranges with the goal of having them account for 20% of its total product offer. The retailer also is lowering the price of 500 basic items by 10%.
Apr 28, 2009
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