In 2013 the Spanish supermarket chain Mercadona remained the undisputed leader in grocery retailers in Spain in value terms. Its expansion strategy led to the opening of 70 new outlets in 2013, and the expansion of its private label brands, in food with Hacendado, in beauty products with Deliplus and in home care with Bosque Verde. These made most consumers appreciate the good value for money that Mercadona offered over other retailers. The rise of Mercadona has been remarkable since 2002, when the company started its aggressive strategy of promoting its private label brands against traditional brands. Since then, Mercadona has become the leader in private label, and this is expected to continue, as the economic pinch in Spain is benefiting the growth of Mercadona's private label. In 2013 Mercadona was the largest employer in the country, with a workforce of 75,000, all hired under fixed term contracts. In 2013 the company stopped its international expansion strategy, as it pursued the target of gaining market share throughout the country. The company aims to achieve this by entering new markets, such as the Basque country, a territory dominated by the Basque firm Eroski.
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The future of the Spanish economy remains uncertain. High unemployment and austerity measures will determine economic growth and the prospects for the economy in the coming years. The government will continue to struggle, and some new adjustments may be needed, such as raising the VAT on certain products, as it did in 2013 for tobacco and alcoholic beverages. Such increases are also expected to happen in other product categories. Despite these facts, and the threat that tax increases pose for the economy, grocery retailers is expected to increase by a value CAGR of 1% at constant 2013 prices over the course of the forecast period.
Discover the latest market trends and uncover sources of future market growth for the Grocery Retailers industry in Spain with research from Euromonitor's team of in-country analysts.
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