British retailer Tesco will open its first large store in Romania in two years, at the latest, and will be shortly followed by its rival, the US giant Wal-Mart, says Brian Moore, a world famous retail consultant.
"The Romanian market is ready for these giants and the only reason why Tesco and Wal-Mart are not already here is their current interest in other markets, namely China and India. The issue is not whether they will come to Romania, but when", says Brian Moore, general manager of EMR-Namnews consultancy. This was Moore's first time in Romania, for a workshop in Bucharest on the latest international retail trends.
Wal-Mart is the world's largest retailer, with total turnover standing at 215.4 billion euros last year and owning 1,500 hypermarkets. Britain's Tesco is the world's second-largest retailer, with turnover worth 44.6 billion euros reported in 2004.
The arrival of the two companies on the Romanian market is likely to generate higher prices for land and lower prices for products.
"These companies are moving very fast and once a decision is made, stores will open quite quickly. The growing real estate prices may mean the two firms are already considering some acquisitions in the area", Moore estimates.
The main hypermarket networks active on the Romanian market are Carrefour and Cora, both of French origin. "Retail companies that are already present in Romania still have time to boost their efficiency and brace for the very tough competition from Tesco and Wal-Mart", Moore explained. georgiana.stavarache@zf.ro
British retailer Tesco will open its first large store in Romania in two years, at the latest, and will be shortly followed by its rival, the US giant Wal-Mart, says Brian Moore, a world famous retail consultant.
"The Romanian market is ready for these giants and the only reason why Tesco and Wal
