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Learn moreApr 2020
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Although variety stores continued to see current value growth and a slow rise in outlet numbers in 2019, it remained a very small channel. Colombians perceive variety stores as outlets from which to buy cheap bric-a-brac, whose low prices practically guarantee poor quality and lead to quick disposal, so are seen by many as a waste of money.
According to retail trade associations, the impact of the variety stores channel is significant not only in the local retail environment, but in the overall economy. Although variety stores is becoming a more important channel, it carries a reputation from the past for informality, illegality and disorder.
Due to the rising popularity of discounters, consumers are now more used to formal legal retailers that offer them quality products at low prices. They also now better understand the fixed-price concept offered by some variety stores.
Variety stores was shaken by the arrival of Central American player Dollar City. This was the first major fixed-price retailer seen in Colombia, and has an aggressive expansion plan.
One factor that entrepreneurs in variety stores agree on is the cyclical demand for their products. Therefore, to compete successfully, players have to adapt their offer and renew their inventories.
The strategic and competitive landscape of Colombian variety stores allows players to have low but constant profits. These businesses involve a very simple administrative structure, with a number of vendors that rises or declines according to the season, negotiations with suppliers on volumes and prices, and financial negotiations to use short-term credit, seeking to pay for everything in cash.
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Discover the latest market trends and uncover sources of future market growth for the Variety Stores industry in Colombia 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 Variety Stores industry in Colombia, our research will save you time and money while empowering you to make informed, profitable decisions.
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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.