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Carrefour: Modern retail to account for 50 pc share in Romania, in 2010

Modern retail weight in the overall Romanian retail is to rise to 50 percent in 2010, from 39 percent in 2007, estimated on Tuesday Carrefour marketing manager Andreea Mihai, on the occasion of the conference The Retail Market in Romania.

'Modern retail weight on the retail market in Romania rose to 39 percent in 2007 from the 19 percent level it accounted for in 2001 and its weight is estimated to reach 50 percent by 2010', said Carrefour representative. Modern retail market in Romania is divided between hypermarkets and supermarkets, each holding a 50 percent share. In Bucharest, modern retail accounts for 70 percent on the retail market, mentioned Andreea Mihai. 'In 2008, in Romania, a number of 74 hypermarkets are operational, together with 88 supermarkets, 152 discount stores and 40 cash&carry. The store chains will continue their expansion in 2008 to zones with a low buying power, leading to a reduction in turnover per square meter. In 2007, Carrefour's turnover per square meters stood at 9,700 euros', stressed Andreea Mihai. Carrefour sales could exceed in 2008 the level of one billion euros recorded in 2007, following the acquisition of Artima store chain. 'This year we are going to re-brand the 21 Artima stores and further expand them. We are open both to a direct expansion, through own stores, as well as to some acquisitions. We are also open to entering the discount type stores market, but for the time being our plans are focused on the hypermarket and supermarket segment', underlined Andreea Mihai. According to Carrefour representative, amid the main problems retailers in Romania are confronted with there are an increase in land prices, development of all retail forms, rise in salary levels and labor force migration. 'We are facing a significant issue as for the labor force, especially in Bucharest, in a context in which the unemployment level is low in this zone', added Carrefour marketing manager. Sursa: http://www.rompress.ro

Tags: retail market percent romania carrefour modern

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