Fast Market Research recommends "France Food & Drink Report Q4 2013" from Business Monitor International, now available
Boston, MA -- (SBWIRE) -- 11/13/2013 -- France's consumer outlook remains subdued. The economy is characterised by rising unemployment, a rigid labour market and weak export competitiveness, with the French consumer facing considerable downwards pressure. Consumer spending is being impacted by the country's weak macroeconomic outlook, simultaneously placing pressure on the country's food and drink sector. Over the medium term, the lack of economic reforms (particularly concerning labour market and tax systems) remains a strong impediment to headline GDP growth. This is affecting growth in the household segment, and the government's struggle to pursue expansionary fiscal policy will continue to trigger sustained economic stagnation.
Headline Industry Data
- 2013 per capita food consumption growth in local currency = +0.6%; compound annual growth rate (CAGR) to 2017 = +1.1%
- 2013 alcoholic drink sales growth in local currency = +0.2%; CAGR to 2017 = +1.0%
- 2013 soft drink sales growth in local currency = +2.5%; CAGR to 2017= +3.6%
- 2013 mass grocery retail sales growth in local currency = +2.0%; CAGR to 2017= +3.0%
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Key Industry Trends And Developments
Casino EM Strength A Major Advantage: French retailer Casino has plenty of exposure to high-growth emerging retail markets - making it arguably less reliant on France than Carrefour. Casino has undoubtedly had the upper hand on its main rival in the post-2008 era. Since 2010, Casino's share price is up by more than 20%, while Carrefour's, hampered by a flagging business in France, is down by about 20%.
Carrefour Continues Comeback Under Plassat: Carrefour is setting itself up to be one of the great comeback stories in global food retailing. When CEO Georges Plassat took the reins in 2012, Carrefour was struggling. Its share price was at an all-time low, with the company failing to address the fundamental problem of declining sales and relevance of its core hypermarket business in France. Plassat's first year in charge has arguably turned out better than expected. Beginning with a series of asset sales in countries including Colombia and Indonesia - which raised about EUR5.2bn, according to Deutsche Bank - Carrefour has been looking more competitive.
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