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Learn moreJan 2018
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Increased competition within and between many different channels and formats has been one of the most significant trends in retailing in Costa Rica in recent years. This has compelled all kinds of non-grocery specialists to try to strengthen their competitiveness by increasing the frequency of price-based promotions and diversifying their product assortments.
One successful example of a non-grocery specialist that has adapted to increased competition by diversifying its assortment is Grupo Monge SA. During the review period this local company began selling motorcycles (not covered by Euromonitor International research) in its electronics and appliance specialist retailers outlets.
Purchases in physical stores continued to dominate non-grocery specialists current value sales in 2017. However, mid-to-high-income consumers showed growing interest in the online sales platforms of such retailers, primarily for the purposes of price comparison and product research.
Increasing direct and indirect competition, particularly on prices, led most non-grocery specialists to diversify their assortments towards the end of the review period in an effort to improve margins and attract more consumers to their outlets. A number of major players also sought to strengthen their competitiveness by closing less profitable outlets and remodelling existing stores to better meet the expectations of shoppers.
The growing challenge from other channels such as hypermarkets and warehouse clubs intensified competitive pressures on some major local non-grocery specialists over 2016-2017. One such player was electronics and appliance specialist retailer Casa Blanca.
Over the forecast period, most non-grocery specialists are expected to focus on developing their internet retailing capabilities to compensate for the negative impact that the growing popularity of online shopping is likely to have on their physical outlets. It is also expected that players will seek to improve the performances of their physical store networks in terms of sales per square metre by favouring smaller outlets, cutting operational costs, stepping up promotional activities via social media and frequently running discount campaigns to increase inventory rotation.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Non-Grocery Retailers industry in Costa Rica 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 Non-Grocery Retailers industry in Costa Rica, our research will save you time and money while empowering you to make informed, profitable decisions.
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This industry report originates from Passport, our Retailing market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.