Survival race

COMPETITION LEADERS

In 2007 the pool of the ten leading grocery chains finally formed; the turnover of each of them by the results of the year has increased USD 1 billion. These are the chains Pyatyorochka, Perekrestok, Lenta, O'Kеу, Sedmoi Continent, Dixi, Magnit, Auchan, Metro Cash & Carry, and Kopeyka. The aggregate turnover of the billionaires increased by 33% for the year and exceeded USD 16 billion.The second-echelon chains (with а turnover from USD 100 million to 1 billion)-Kupets, Kirovsky, Mosmart, Viktoria, Monetka, Holiday Classic, Kога, Maria Ra, Matritsa, Radezh, ALPI, Semya, Vivat, Mosmart, Green, Azbuka Vkusa, Paterson. Sistema Chibis, Роlуаnа, Molnia, Proviant, SPAR, Nezabudka, Grossmart, Ramstor, and Karusel-were less stable in their development; the turnover of some of them grew by hundreds of percent for the year, and reduced for others.А few factors simultaneously played into the hands of the retail chain players. Thanks tothe new law "Оn Retail Markets" that entered into force in April 2007, many markets had to close, and their consumers turned their demand to stores within walking distance and hypermarkets. At some cities, the share of markets in retail dropped by almost 10%. Besides, the advance growth of foodstuff prices, which on average was twice as high as the inflation rate, helped many chains to maintain the target turnover growth indicators. To top it all, the decreased USD exchange rate was in favor of high indicators. 

REFILL 

Billions of US dollars were invested in the development of grocery store chains in Russia in 2007. Naturally, such an amount of investments in  new stores required additionаl financial aid. Therefore, similar to in previous years, emission of bonded debts, entering IPOs, sale of company interests to major investors, and obtainment of credits continued. The chains that did not have their own major investors, developing exclusively due to debt finance and not willing to sell the company interest to investors, found themselves in а most awkward situation: Their debt/profit ratio reached  critical values. As the world financial crisis in the banking sector was developing in the second half of 2007, the opportunities to obtain credits on the Russian and international markets began to vanish. Those chains with have poor chances for engaging loan proceeds see the opportunity to obtain the money for further growth in selling the commercial real estate that they own. The opportunities for rapid growth are seen by the leading chains not only in opening new stores, but also in purchasing smaller players on the market.In 2007, two chains of the ten leaders changed their major owners. Thus, Gruzdev sold his share of Sedmoi Continent for USD 995 million to his partner Alexander Zanadvorov. The Dixi chain held an IPO  sold 41.67% of the company's shares on the exchange market to earn USD 352 million.Its main owner Oleg Leonov transfer of Dixi shares to the Merkuriy group of companies for an amount that can bе еestimated at USD 450-500 million. The even year was the virtual final departure of Ramstor, the slowly dying old-timer of Russian market.In the second echelon, the formation of a major Siberian chain based on Holiday Classic Со. continued. The funds for purchases and mergers wеrе received by the c from its major investor, Renova Capital, as well as due to selling part of its сommercial real estate.Thus, consolidation of commercial real estate in the hands of the leading players the market continued. In some regions of the country, the process reached the stages when there was actually nothing to buy out. All the respectable chains are already in the hands or under control of the major play of the market included in the first group of ten.

NEW PATTERNS

In 2007, the appearance of new formats continued. Grocery-store-chain owners are now willing to open facilities with areas starting with 100 square meters. Hypermarket was the format of the year. These stores were opened by the dozens throughout Russia, even in cities with populations less than 100 thousand people. The most actively developing hypermarket chains in 2007 included Lenta, O'Key, Alpi, Green, Karusel, Auchan, Real, and Metro Cash & Carry. The situation on the supermarket market is not so definite. Due to the special pricing policy and quality of service, the stores of this format are very sensitive to competition and selection of location, especially in the regions. As а result, in those cities, for instance. where competition reached its limit, they closed due to nonprofitability. Stores of smaller formats - discounters - continued their fast rate of increase. As of the end of 2007, over 2000 Magnit stores had opened in the country, as well as 1300 Pyatyorochka, 400 Kopeyka, and 350 Dixi stores. At the same time, various ultra-small- format store projects (100-200 square meters) continued to appear and develop; however, they do not play а significant role on the market at present. 

 ВREAKDOWNS

In 2007, not all chains survived the growth расе they started with. Ramstor аnd Nezabudka from Chelyabinsk withdrew from the rасе. The former became loot for its competitors for rather internal reasons, and the latter was an outstanding example of the fact that extremely rapid growth may spoil а company profitability, exhaust its resources, and lead to its uncontrollability. The leader of the market, Х5 Со., could not avoid losses either. Numerous obstinate franchisees who switched to other chains added to its headache. In spite of all this difficulty, Pyatyorochka's store count increased by about 250 during the entire year. The reason for slower growth of chains than expected is not just а matter of controversy between business partners. The trade chains are under the pressure of constantly increasing costs: operating costs and salaries are growing at high rates, lessors are increasing their rates and suppliers purchase prices, and the limited nature of the grocery market also affects this. This is why in 2007 the chains actively expanded their Private Label production, organized direct shipments of goods from China and production there, and introduced new groups of nonfoods into the range of goods. Many chains are developed vertically integrated holdings and their own agricultural production. The chains are also attempting to gain from financial flows: in 2007, Sedmoi Continent continued the development of Finservice  Bank, and the ALPI Bank. Relationships between retail business and officials, along with further consolidation of grocery retail and development of more and more remote cities and regions, as well as CIS countries, will become the major trends of the market development in 2008.

• Комплексное исследование рынка
• Исследование потребителя
• Исследование конкурентной среды
• Исследование продукта
• Исследование уровня цен
• Оценка эффективности рекламной кампании
• Социологические исследования
• Изучение имиджа компании
• Анализ наилучшего и наиболее эффективного использования земельного участка
• Мониторинг розничной торговли / Аудит торговых точек
• Методы проведения исследований

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