Boston, MA -- (ReleaseWire) -- 06/05/2014 -- In general terms retailing chains showed modest or even zero openings in the second half of the review period as operating conditions became more difficult in Venezuela. Severe restrictions on imports, rigid labour regulations and frequent shortages of electricity supply were some of the main issues affecting companies. Nevertheless, some players implemented aggressive investment plans and opened new large stores despite the adverse business environment. The department store Traki began operations as a low-price chain with a modest presence but in 2013 it was one of the largest retailers with 48 stores and a total selling area of 173,000 sq m. The chain is present in all Venezuela cities and offers a wide range of affordable products. One of its latest stores is situated on a high-traffic avenue at Caracas, the Capital City, and has an impressive size of 22,000 sq m, distributed over several floors. As mixed retailers is still a small channel with few players, Traki's expansion drove higher growth and development.
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Traki was by far the leading brand with a 49% value share in 2013. It significantly expanded over the review period with an increase from 22 to 48 stores from 2008 to 2013. This expansion provided the chain with growth rates above the average. New stores have larger selling areas and more complete product ranges. Locations also changed in order to access middle-income consumers and therefore the brand now targets a broader population segment.
The addition of new department stores will drive modest value growth over the forecast period. However, channel development will be modest due to the unfavourable conditions in guaranteeing product availability. No new entrants are expected and innovation is likely to witness stagnation as existing companies focus on dealing with basic business processes.
Discover the latest market trends and uncover sources of future market growth for the Mixed Retailers industry in Venezuela with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Mixed Retailers industry in Venezuela, our research will save you time and money while empowering you to make informed, profitable decisions.
The Mixed Retailers in Venezuela market research report includes:
- Analysis of key supply-side and demand trends
- Detailed market shares for international and locally-based retailers
- Historic number of stores, selling space and values, company and brand market shares
- Five year forecasts of market trends and market growth
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