Eurospin expands its hybrid discount concept across Southeast Europe
Italian discounter Eurospin is expanding across Southeast Europe. The North-Italian retailer currently is preparing its market entry into Serbia, as local media report. Over the past five years the company that operates more than 1,200 stores in Italy, 60 in Slovenia and 30 in Croatia, has stepped up its expansion activities in the region. Operations in Croatia were launched in 2020 and the first store in Malta was opened in spring this year.
Eurospin’s hybrid store concept as a mix of hard discount and delicatessen supermarket is unique in the discount channel. New stores feature sales areas of 2,000 sqm and carry 2,200 SKUs. In the ambient ranges the discounter features 45 exclusive private label lines and does not carry any manufacturer brands. A special focus lies on the ‘Amo Essere’ (I love to be) special ranges that include dedicated organic, gluten-free, lactose-free, vegetarian and ecological product lines.
Center point of the store are the gastronomy department featuring serviced counters for antipasti, ham and cheese and the in-store butchery. Meat products are available in self-service only, but customers can view the cutting and production process through the open butchery.
The hybrid concept can hold its ground, also against international heavyweights such as Lidl and Hofer (Aldi Süd). In its last announcement Eurospin disclosed a net revenue of more than 9 billion euros for 2022 in Italy. In Slovenia, where the retailer is active since 2004, Eurospin’s average annual revenue growth from 2020 to 2023, according to balance sheet data, came to 16.9% to 286 million euros revenue in 2023. Hofer and Lidl during the respective period increased their sales by an average of 5.9% to 688 million euros and by 12.6% to 639 million euros, respectively.
Also from a profitability perspective, Eurospin in Slovenia holds its own against its two discount rivals. In 2023 the discounter achieved a pre-tax profit margin (EBT) of 3.9%, while the respective value for Lidl stood at 3.1% and for Hofer at 4.9%.
Related news
Despar Italia Expands S-Budget Private Label Brand Nationwide
Italian retail operator and SPAR concessionaire Despar Italia is rolling…
Read more >Croatian Entrepreneurs’ Association calls for uniform reduction of VAT on food
Due to excessive price increases, the Croatian Entrepreneurs’ Association (UGP)…
Read more >Grocery Content on TikTok is Trending
As a powerful marketing tool for businesses across industries, including…
Read more >Related news
OKSZ also fights against inflation
The food retail member companies of the National Trade Association…
Read more >Norma – Germany’s last hard discounter
In the shadow of discount giants Lidl and Aldi, the…
Read more >