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COLRUYT CHAIRMAN:HOW TO COMPETE AGAINST DISCOUNTERS
Colruyt, the leading retailer in Belgium, has developed a formula for competing against Aldi’s low prices. Jef Colruyt, Chairman of the retailer, told Lebensmittel Zeitung, “It’s simple; you just lower your margin on their 800 lines and try to raise the prices on the rest of your assortment. We are the cheapest operator in Belgium. Our prices are about 4% less than Aldi’s and up to 17% cheaper than some of our supermarket competitors.”
Private label currently accounts for slightly more 20% of sales at Colruyt. Retailer brands could be expanded, he suggested, depending on the financial performance of manufacturer brands.
While Colruyt is looking at possible expansion in The Netherlands and Germany, the retailer believes there is still growth potential in Belgium. He believes Colruyt can achieve a market share of 30 to 32% within the next 10 to 12 years. “We see further growth for at least another ten years in Belgium, so we could open another 50 Colruyt stores, more than 100 Okay stores, and 20 to 25 Dreamland stores.”
Sep 28, 2009
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