Boston, MA -- (SBWIRE) -- 06/16/2014 -- The major trend in 2013 was the increase in modern grocery retailers in Bolivia. Companies continued to invest in expansion and the bettering of their outlets. The low penetration of modern grocery retailers, which is estimated to reach 10% allows generous rates of growth and continual opening of outlets. Informal retailers are slowly losing ground in cities like Santa Cruz. The estimated penetration of modern grocery retailers in Santa Cruz was 25% in 2013. Retailers in that city successfully launched their outlets in popular areas where consumers traditionally shop at informal or traditional retailers.
In 2013, traditional grocery retailers led grocery retailers in Bolivia, accounting for 91% of retail value sales. Hipermaxi SA has the most grocery retailers sales, and had a 4% value share in 2013. Hipermaxi SA was able to position its brand throughout the nation by offering competitive prices and a variety of products. Its outlets are distributed in the three biggest cities of Bolivia. The company continually invests in expansion throughout popular areas where middle- and low-income consumers are concentrated. Hipermaxi SA's main rival is traditional grocery retailers. This retailer has been able to successfully launch two brands in areas of the country where traditional retailers had a strong positioning. Its latest launch of a store in El Alto marks the increasing appeal of modern grocery retailers to consumers.
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The increase in the number of outlets of grocery retailers seen in 2013 is set to continue. Consumers are getting used to shopping in these outlets and companies still expect generous rates of growth in the forecast period. However, it is unlikely that in 2013-2018 traditional grocery retailers' sales will be overtaken by modern grocery retailers' sales. But modern grocery retailers are likely to continue investing in expansion given the great quantity of consumers underserved, which will generate opportunities for them. Overall, the modern grocery retailers channel is expected to post a CAGR of 3% in constant value terms and grocery retailers a CAGR of 2% in constant value terms, in the period 2013-2018.
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