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With nearly 17,000 euro in turnover per sqm, Colruyt only has to admit defeat to Esselunga’s supermarkets (Italy) and Aldi’s Irish stores. What do the most successful retailers have in common?
Tap into trends
Turnover per square meter is often the measure of success in retail and some retailers perform better than others. Data shows that every store formula has the potential to have high productivity: supermarkets, hypermarkets, cash & carries, convenience stores and discounters are all present in the top 100. It does become clear that the conditions are more advantageous in some countries. 23 of the most productive store formulas hail from the United Kingdom, 11 from Switzerland, 7 from the Netherlands, Italy and France.
European record holder Esselunga is the number one because of its proactive approach according to the researchers. The Italian chain taps into new trends and implements them rapidly in its entire store network. Lidl and Aldi Süd are highly productive because of their specialized approach. The discounters’ popularity grows faster in the United Kingdom and Ireland than their store network increase.
Unique mix
According to the report, Colruyt is a unique mix of discounter, cash & carry and a supermarket. It has an exceptional approach to the available store space and shows that “productivity does not have to be pretty”. Convenience formulas like Sainsbury’s Local and Tesco Express focus on a high rotation in small stores at premium locations. The most exotic store in the top ten is Azbuka Vkusa, a Russian chain of premium supermarkets selling higher prices items with high margins.
Wha do these winners have in common? They are good at detecting and answering trends. They invest in technology to better understand consumer behaviour and most have a unique position in their own markets, having become specialists of their store format. Continued improvement is a requirement to achieve the ultimate level of productivity. A consistent brand experience, a strong private label product range and a balance between aggressive pricing and decent quality perception are also important.
