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Home > Market Research > Consumer Goods & Services > Internationalisation strategies of CEE retailers :: Verdict
Introduction
Verdict Research: Many CEE retailers have already undertaken internationalisation strategies and expanded beyond their domestic markets. Consequently a number of large pan-CEE retailers across different sectors have emerged. While economic and financial uncertainty is likely to slow the pace of international expansion, there are a number of opportunities driving further expansion abroad.
Scope
*This brief provides accurate insights into key trends, future developments and discusses the strategies of the main operators expanding in the region.
*Analysis of the major opportunities and threats in the region and the immediate outlook for Central Eastern Europe.
*Macro economic data on 10 CEE markets, structural indicators and forecasts for CEE countries and other emerging markets.
*Detailed analysis of key internationalisation strategies and CEE retailers approach to expansion abroad.
Highlights
In the past few years strong retail growth prospects in neighbouring countries and looming saturation of domestic markets has driven many CEE retailers to expand abroad to sustain high levels of sales growth. A number of large pan-CEE retailers across different sectors have emerged from this growing internationalisation trend such as Poland's LPP.
Despite opportunities for further regional growth, retail prospects in CEE have worsened considerably as the deteriorating macroeconomic conditions and recessionary environment feed through to weaker demand and declining retail sales.
While several CEE retailers have responded to the crisis by scaling back on international expansion plans, opportunities for further regional growth still remain. Furthermore the low risk nature of franchising is particularly appealing in a downturn.
Reasons to Purchase
*Identify the success stories and growth prospects of the key markets and competitors and benchmark their performance.
*Learn how difficult market conditions are impacting CEE retailers and what the outlook for internationalisation will be in the short to mid-term.
*Discover how the market and retailers' future initiatives will develop. Find growth opportunities in specific sectors and identify the key threats.
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Table of Contents
TABLE OF CONTENTS
CHAPTER 1 EXECUTIVE SUMMARY 7
Key Findings 7
Main Conclusions 9
CHAPTER 2 INTERNATIONALISATION STRATEGIES OF CEE RETAILERS 12
Main Strategies 12
M&A 12
Organic 12
Franchise 12
Other Approaches 13
Regional and International Expansion of CEE Retailers 14
Drivers of Regional Expansion 14
Regional Expansion 18
Expansion Further Afield 20
CHAPTER 3 OPPORTUNITIES 21
Emerging Convenience Trend 21
Target New Formats 23
Growth in Department Stores 23
Furniture Boulevards 24
Factory/Designer Outlet Centres 25
Target New Shopping Centre Developments 29
Target Underdeveloped Markets 34
Expansion Outside CEE 37
Expansion Into Western Europe 37
Expansion Beyond Europe 39
CHAPTER 4 THREATS 41
Worsening Economic Outlook 41
Rising Unemployment 43
Tightened Credit 44
Difficulty in Raising Cash to Fund Expansion 44
Credit Crunch Curbs Expansion Plans 45
Weaker Demand 46
CHAPTER 5 CONCLUSIONS & RECOMMENDATIONS 48
Concluding Remarks 48
Recommendations 49
CHAPTER 6 GLOSSARY 51
Definitions 51
LIST OF FIGURES
Figure 1: Internationalisation strategies � benefits and drawbacks 2009 13
Figure 2: Four largest CEE markets in the EU by retail expenditure 2006 & 2007 14
Figure 3: CEE retail expenditure of other six in EU 2006 & 2007 15
Figure 4: CEE retail expenditure growth 2007 on 2002 16
Figure 5: Zabka, Prague, Czech Republic 2008 22
Figure 6: Elkor Plaza, Riga, Latvia 2008 23
Figure 7: Domoteka, Warsaw, Poland 2008 24
Figure 8: Fashion House Outlet Centre, Militari, Romania 2008 26
Figure 9: Vabbi, Prague, Czech Republic 2008 27
Figure 10: Vabbi, Siedlce, Poland 2008 28
Figure 11: Arkády Pankrác, Czech Republic 2008 29
Figure 12: Tatuum, Arkády Pankrác, Prague Czech Republic 2008 30
Figure 13: Shopping centres in planning/building phases in CEE 2009 32
Figure 14: Shopping centres scheduled to open in CEE 2009-2011 33
Figure 15: Western Balkans retail expenditure 2005-2007 35
Figure 16: Western Balkans retail expenditure growth 2006-2007 36
Figure 17: Lifeline, Jeddah, Saudi Arabia 2008 40
Figure 18: CEE growth in real GDP forecasts 2008 & 2009e 41
Figure 19: Eastern and southern Europe growth in real GDP forecasts 2008 & 2009e 42
Figure 20: CEE seasonal unemployment November 2008 43
Figure 21: Year-on-year monthly CEE retail growth rates Jun & Oct 2008 46
For full details, please email keithw@cmsinfo.com
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