Global: Big Winners From a Transformative Decade in Retail
Discount Retail Chains Lidl and Aldi (including their US subsidiary Trader Joe’s) had a great decade. Granted, they have barely moved over the decade in the global rankings, but have managed to grow in every single market where they are present. Moreover, the share of foreign revenue is among the highest in the industry (over 60%). Their relentless focus in the hard discount model (good quality private labels at very low prices), together with their ‘no-nonsense’ approach (no fancy M&A and almost no advertising nor digital presence) and organic growth awards them the prize for composure on the face of the Amazon schizophrenia that has affected most competitors. Focusing on the basics is still a winning strategy in the 21st century regardless of the markets you are in.
Lidl is now the third and Aldi the seventh biggest retail chain in the world.
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