The global financial crisis is expected to impact negatively on Spanish food retailers, following a 5.8 per cent growth in sales last year to some E87.6m, according to a report published by Financialfood.
Sales at Spanish supermarkets, hypermarkets and cash & carry stores are anticipated to rise by less than 3 per cent during the next couple of years, the report said, due to a weakening in demand.
According to Spain’s National Statistics Institute, Spanish retail sales fell by 7.5 per cent during the month of August, with food sales decreasing by 3.8 per cent and non-food sales declining by 10.5 per cent.
Discount formats are likely to fare the best during the economic difficulties, according to DBK consultancy, given that they offer adjusted prices and more value labels.
Supermarket own brands will also continue to increase in importance on the Spanish retail scene, DBK said, for both food products and other sectors of the market.
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