CASH & CARRY
Cash & carry in the modern retail market
November 2013
planetretail.net
1
MILOŠ RYBA
Research Director - Emerging Markets
Contents
1. Channel overview of cash & carry and wholesale clubs
2. Trends in the cash & carry sector
3. Case Study: Metro Group - Metro (Makro) Cash & Carry
4. Conclusion and key takeaways
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1. Overview of the cash & carry and
wholesale clubs channel
1. Channel overview of cash & carry and wholesale clubs
The cash & carry and wholesale clubs (CC&WC) channel is set to grow annually at
the rate of around 6.2% in the next five years. The majority of the growth will come
from the wholesale clubs format.
Global: Channel Sizes by Sales, 2008e-2018f (USD bn)
Retail Banner Sales (USD bn)
2,500
2,000
2008
2013
2018
1,500
1,000
500
0
Hypermarkets &
Superstores
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Note: e – estimate; f – forecast
Source: Planet Retail
Supermarkets &
Neighbourhood
stores
Discount stores
Convenience &
Forecourt stores
Cash & carries &
Wholesale clubs
Drugstores,
Pharmacies &
Perfumeries
Online
1. Channel overview of cash & carry and wholesale clubs
Wholesale clubs operator Costco and Carrefour’s hybrid concept of hypermarket /
cash & carry will outperform cash & carry operators such as Metro Group in the
next five years.
Global: Top 10 CC&WC Operators’ Revenue, 2013f-2018f (USD mn)
180,000
159,503
160,000
Revenue (USD bn)
140,000
2013f
2018f
120,000
107,565
100,000
94,083
75,917
80,000
58,162
60,000
46,630
40,000
18,952
20,000
10,546
13,405
16,818
9,181
11,349
6,525
8,370
7,742
8,100
4,439 5,333
1,350
4,886
0
Costco
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Note: f – forecast
Source: Planet Retail
Walmart
Metro Group
Carrefour
BJ's
Wholesale
Club
SHV Makro
Coop (CH)
Booker
Bestway
CP All