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Ireland grocery retailers market driven by value for money as the economy suffers
Grocery Retailers in Ireland - a new market research report on 2014-04-30 04:30:03
Grocery retailers in Ireland remained under the influence of significant shifts in consumer preferences during 2013. Whilst value for money has been a key driver of demand for grocery retailers since the onset of the economic crisis, in recent years this has evolved away from promotional activities such as price discounting and opportunities to make savings through multiple purchases towards making purchasing decisions which will result in long terms savings. In this regard, private label continues to make significant gains within grocery retailers as the number of private label products available increased across grocery retailers and non-grocery retailers alike towards the end of the review period. However, the main beneficiary of the increased focus on value for money in grocery retailers was discounters, a channel which recorded 18% current value growth in 2013, with international players Lidl and Aldi the big winners. The popularity of both of these operators has increased considerably among Irish consumers and this has led to each of them gaining value share. Much of the success of these operators can be attributed to their significant television advertising campaigns. This represents a new direction in terms of promotional activity for the leading operators in discounters, which has hitherto relied mainly on newsletters and email circulars. These television advertising campaigns highlighted not only the significant level of savings which are available to consumers through shopping in Aldi and Lidl outlets, but also—and perhaps more importantly to many Irish consumers—the broad range of products available from Irish producers and growers in the outlets of Lidl and Aldi.

Musgrave Ltd remained the leading player in grocery retailers in Ireland in 2013 with a 28% value share. The company continued to make gains following its largely successful attempts to rejuvenate Superquinn following its takeover of the brand in 2011, with the previously struggling brand´s value share in modern grocery retailers increasing from 1% to 5% between 2011 and 2013. The company´s flagship Blackrock branch was the subject of €2 million in investment capital in the form of improvements, modernisation of its layout, new fresh food counters and expanded car parking facilities. The chain´s Ballinger and Ranelagh branches have also been refurbished, with refurbishment activity expected to continue in other outlets in the Superquinn chain throughout 2013. Musgrave´s Centra and Supervalu chains ranked second and third in grocery retailers in Ireland during 2013 with value shares of 13% and 9% respectively. Musgrave has continued to invest in its brands, introducing and expanding its private label product ranges as well as offering internet retailing through the Supervalu chain and continuing to innovate in other areas. For instance, Musgrave was the first grocery retailer in Ireland to trial contactless payments in Centra outlets, with this being applied for transactions of €15 and less.

Grocery retailers in Ireland is expected to continue making strong progress over the forecast period, rising in constant value at a CAGR of 4%. Consistent positive value growth is expected in grocery retailers throughout the forecast period as Ireland continues along the path to economic recovery. Although much needs to be changed and many retail businesses still need to become more streamlined than they were before the onset of the economic recession, Ireland´s grocery retailers can be expected to remain highly attractive to the country´s consumers as they are likely to continue offering value for money and a wide variety of products. The limited number of chained operators operating in the category overall is expected to continue limiting real competition in grocery retailers during the forecast period, ensuring that unit prices remain relatively high in comparison to other European countries.

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