Boston, MA -- (ReleaseWire) -- 06/11/2014 -- Modern grocery retailers, as in 2012, continued to increase their presence among smaller retailing formats, like Tiendas Industriales Asociadas TIA SA, with its discount brand Tia Express. Supermarkets with smaller selling space (to enter attractive urban areas) also continued to grow. Corporacion Favorita CA created a new brand under its brand name Aki, called Super Aki, which emphasises its offering of more grocery products and is a smaller format than Gran Aki.
Corporacion Favorita CA, with 24% current value share, continued to lead grocery retailers in 2013. The company has been able to create consumer loyalty, as it is positioned as a provider of high-quality products to an extent that its private label Supermaxi is highly regarded. The company has several brands which strategically cover several target markets: Supermaxi, Megamaxi (targeted to middle-high and high-income groups) and Aki, Gran Aki and Super Aki, (targeted to middle and middle-low income groups). It is also constantly in touch with Ecuadorians' needs. In order to satisfy its clients, Corporacion Favorita created in 2013 Super Aki, which focuses more on grocery products than Gran Aki.
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It is very likely that during the forecast period, companies will develop larger real estate projects, like Plaza Tia, which will try to develop retailing facilities (at new and far away neighbourhoods with no quick access to shopping centres or other retailing places) that will provide modern grocery retailers like supermarkets but with several other benefits like access to financial services, foodservice outlets, and entertainment. The major project that is known that will be developed is Corporacion el Rosado's El Dorado Commercial City. The project will start with a 20,000 sq m hypermarket that will open at the end of 2013 and will develop during the forecast period a large shopping centre, businesses outside the shopping centre, like gyms, petrol stations, and restaurants. Furthermore it is expected to build a hotel (with a coliseum), a hospital and more specific medical services. This is expected to change the way grocery retailers usually expand.
Discover the latest market trends and uncover sources of future market growth for the Grocery Retailers industry in Ecuador with research from Euromonitor's team of in-country analysts.
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If you're in the Grocery Retailers industry in Ecuador, our research will save you time and money while empowering you to make informed, profitable decisions.
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