"Grocery Retailers in Dominican Republic" now available at Fast Market Research
Fast Market Research recommends "Grocery Retailers in Dominican Republic" from Euromonitor International, now available
[ClickPress, Wed May 13 2015] Following sluggish growth in 2013, grocery retailers rebounded in 2014, growing by 9% in current value sales terms. This growth rate was largely in line with the 10% CAGR achieved over the review period. The VAT on many domestically-produced staples, such as coffee, sugar, cooking oil and butter, among others increased from 8% to 11% in January 2014, further crimping consumer budgets. Many larger chained grocery retailers announced that they would absorb the VAT for one month, passing along savings and goodwill to consumers. Consumer confidence began to re-emerge during the end of the first quarter and grocery retailers gradually increased unit pricing, above and beyond enforcing the increased VAT, throughout the remainder of the year. Prices grew at an average of nearly 9% throughout the year. Notwithstanding, grocery retailers continued to show caution in growing outlet numbers and selling space in order to recover a balance in value sales sacrificed by the economic downturn in 2013.
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Despite the continued lead of Grupo Ramos and Centro Cuesta Nacional in grocery retailers, which combined to capture one fifth of the channelís sales in 2014, the landscape remained highly fragmented. The top five companies accounted for 28% current value share and the top 10 combined for less than one third of current value grocery retailersí sales. The two leading companies each pursue a different strategy for growth and reaching out to consumers. Grupo Ramos, which captured 10% value share in 2014, was successful in expanding its popular hypermarket chain Multicentro La Sirena. The focus on this brand stymied growth of its Supermercados Pola, but in 2012 the company opened the first discounters retail format in the country with its Aprezio brand. While Grupo Ramos continued to experiment with establishing an identity for Aprezio, discounters is likely to show strong growth over the forecast period, positioned between independent small grocers and supermarkets in product offerings and pricing. Centro Cuesta Nacional accounted for 9% value share of grocery retailers in 2014 and has relied on growing its supermarket brand Supermercados Nacional. In addition to its hypermarket brand Jumbo and its Jumbo Express outlets, the company owns additional brands outside of grocery retailers offering home furnishings, paper supplies and childrenísí toys, among others. The growth strategy for Centro Cuesta Nacional centred on locating new supermarket outlets in plazas surrounded by its other non-grocery outlets to create a mall environment and the hypermarket convenience of one-stop shopping.
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