LIDL, a German chain of discount stores, will make a major splash on the Slovak marketplace by launching 14 new stores on September 9.
Lidl's arrival will present customers with a wide range of basic food products at lower prices than its competitors, Lubomír Drahovský, chief of the Terno agency, which does market research in Bratislava, told the news wire TASR.
"Lower prices," he added, "are a result of an unusual commercial approach, based on purchasing great amounts of products from Lidl's own suppliers for extremely low prices."
"Other commercial rivals, such as Tesco or Carrefour, will have to cut prices by 5 to 10 percent," said Drahovský.
"However, this will concern only big self-service stores situated near Lidl. COOP Jednota stores, the market leader in non-urban areas, will not be threatened by Lidl's presence."
New Lidl stores will be opened in Bánovce nad Bebravou, Bratislava-Petrzalka, Dubnica nad Váhom, Hlohovec, Martin, Nitra, Partizánske, Prievidza, Ružomberok, Senica, Šamorín, Štúrovo, Žiar nad Hronom, and in Žilina.
Drahovsky predicts that, despite Lidl's market entry as late as September, it will be ranked among the 20 top commercial companies of 2004 in Slovakia.
Lidl currently belongs among the 10 most successful companies in the German retail trade sector and operates all across Europe.
Compiled by Beata Balogová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
24. Aug 2004 at 9:49