Mixed Retailers in Denmark - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-03-12 04:35:02
Steen & StrÃ¸m Danmark led the Denmark mixed retailers market in 2012, accounting for a 27% share of value sales. The dominance of Steen & StrÃ¸m can be explained by its favourable price positioning, large store network, consistent investment in store development and long experience. Unlike its rivals, Steen & StrÃ¸m holds less of a premium positioning, which has been highly attractive to price-sensitive Danish consumers. Furthermore, thanks to its 16 outlets, with three fully-owned stores and 13 stores owned by a local operator, Danica, Steen & StrÃ¸m holds the largest network of outlets in department stores in Denmark, providing it with wide geographical reach and significant economies of scale. In addition, Steen & StrÃ¸m has been steadily investing in store modernisation, expansion and upgrades in order to offer greater value to consumers.
In 2012, the mixed retailers channel grew only slightly, as shattered consumer confidence continued to negatively affect consumers´ willingness to pay for items which were not of immediate necessity. Mass merchandisers and variety stores, such as A-Z and Tiger, responded by offering more frequent discounts and listing cheaper product alternatives, whilst department stores, such as Illum and Magasin du Nord, increasingly invited less premium players into their outlets. In addition, players strived to offer added-value to shoppers by carrying out renovations and improving their level of service.
Department stores are expected to remain the main growth driver in mixed retailers over the forecast period, increasing by a constant value CAGR of 3%. Shielded by their strong financial base, department stores are able to proactively and profoundly adapt to changing demands, in particular by increasing the low-price focus and following consumers´ preferences in terms of choice of concessions and store design. In addition, department stores are highly aligned with the convenience trend, being a one-stop shopping destination for consumers. The improving economic climate is also likely to stimulate consumer spending and support interest in more premium products, which will clearly benefit players such as Illum and Magasin du Nord.
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