Eurotorg to return to the strategy of developing small shops on leased premises in 2021 - Zubkov
<p> MINSK, Mar 4 – PrimePress. Belarus’ largest retailer Eurotorg LLC plans to return to the strategy of developing small shops on leased premises in 2021, Eurotorg CEO Andrei Zubkov said during a webinar organized by Cbonds. </p> <p> </p> <p> “Until 2015, our investments in company development amounted to about $1bn. The 2015 crisis led the company to reformulate its strategy, and by 2017 it had been decided what to do and how to develop: a development strategy on small leased spaces. In 2020 we focused more on operational efficiency. In 2021, we will again return to development in line with the same strategy for developing small shops on leased premises,” Zubkov said. </p> <p> </p> <p> He noted that by the end of 2020 the company’s online business brought about 6% of the retailer’s total revenue. "2020 gave a certain impetus - we grew by 31% year on year. Revenue of $110 million, which is about 6% of our offline retail business, is quite good. We are actively looking at expanding our product range. At the end of 2020, we reached an assortment of about 90,000 SKUs, expanding it primarily through the non-food group. In 2021, we plan to expand it further. We hope to reach an assortment of about 300,000 SKUs in the next period. Probably, we will also look at possibilities to work as a marketplace," explained Zubkov. </p> <p> </p> <p> According to him, the company's market share is 19%. He added that out of 129 administrative territories of Belarus the company is represented in 126, in 180 communities it is the only representative of the modern trade format. </p> <p> </p> <p> Eurotorg has been operating since 1993, the first shop under the brand name Euroopt was opened in 1997. Eurotorg’s self-estimated share in the retail market of Belarus stands at 19%. End </p>
2021-03-05
Primepress
Eurotorg to return to the strategy of developing small shops on leased premises in 2021 - Zubkov
MINSK, Mar 4 – PrimePress. Belarus’ largest retailer Eurotorg LLC plans to return to the strategy of developing small shops on leased premises in 2021, Eurotorg CEO Andrei Zubkov said during a webinar organized by Cbonds.
“Until 2015, our investments in company development amounted to about $1bn. The 2015 crisis led the company to reformulate its strategy, and by 2017 it had been decided what to do and how to develop: a development strategy on small leased spaces. In 2020 we focused more on operational efficiency. In 2021, we will again return to development in line with the same strategy for developing small shops on leased premises,” Zubkov said.
He noted that by the end of 2020 the company’s online business brought about 6% of the retailer’s total revenue. "2020 gave a certain impetus - we grew by 31% year on year. Revenue of $110 million, which is about 6% of our offline retail business, is quite good. We are actively looking at expanding our product range. At the end of 2020, we reached an assortment of about 90,000 SKUs, expanding it primarily through the non-food group. In 2021, we plan to expand it further. We hope to reach an assortment of about 300,000 SKUs in the next period. Probably, we will also look at possibilities to work as a marketplace," explained Zubkov.
According to him, the company's market share is 19%. He added that out of 129 administrative territories of Belarus the company is represented in 126, in 180 communities it is the only representative of the modern trade format.
Eurotorg has been operating since 1993, the first shop under the brand name Euroopt was opened in 1997. Eurotorg’s self-estimated share in the retail market of Belarus stands at 19%. End