Retail Sector

An Expert's View about Retail Sales in Chile

Posted on: 18 Feb 2012

Chile has a sophisticated retail sector. The trend over recent years has been towards consolidation and local companies dominate the market

Retail Sector in Chile Chile has a sophisticated retail sector. The trend over recent years has been towards consolidation and local companies dominate the market. Market overview The Chilean retail sector caters to all levels of society: having a small luxury goods market for Chile’s upper class; a wealth of shopping malls and department stores catering for Chile’s growing middle class; and traditional street markets appealing to the tighter budget of the lower classes. In the 11 months to November 2011, retail sales were up 8.7% on the same period in 2010. This reflected an increase of 16.8% in February – resulting from the drop in sales in 2010 as a result of a massive earthquake. Sales growth was slowing by the end of 2011 – highlighting concerns on what the impact of international volatility could mean for Chile. Key opportunities ξ Chile has signed a wealth of bilateral agreements, including an economic association agreement with the European Union. The EAA has resulted in zero tariffs for most goods and services imported from the UK. ξ Chile’s free trade network provides access to almost 1.2 billion consumers world-wide and has made Chile an attractive export platform. ξ The supermarket industry in Chile is a sophisticated one. Over recent years the trend has been towards consolidation. Together the top three players make up around 65% of the market. ξ Chileans favour the “one-stop shop” concept. Department stores offer a wide range of products including clothing, electronics, furnishing etc. and can be a good way to enter the Chilean market. All the major department stores are locally owned and again the sector is consolidated. Latest export opportunities – Business & Consumer Services Latest export opportunities - Chile Getting into the market The Chilean retail sector is consolidated offering advantages to suppliers, in particular the ability to target a large market through few business partners. Chilean supermarkets and department stores are also attractive clients for suppliers of expertise and innovation – for example in the areas of consultancy, R&D or other business solutions – as well as for more traditional suppliers of goods. More about doing business in Chile Contacts Market intelligence is critical when doing business overseas, and UKTI can provide bespoke market research and support during overseas visits though our chargeable Overseas Market Introduction Service (OMIS). To commission research or for general advice about the market, get in touch with our specialists in country - or contact your local international trade team. Tom Warwick, Head of Trade & Investment, British Embassy Santiago Tel: (0056 2) 370 4174 Email: Claire Rason, Senior Commercial Officer, British Embassy Santiago Tel: (0056 2) 370 4177 Email: Contact your local international trade team Major Events TBA UKTI Events UKTI runs a range of events for exporters, including seminars in the UK, trade missions to overseas markets and support for attendance at overseas trade shows. Latest events – Business & Consumer Services Latest events – Chile Useful links More about OMIS and other UKTI services for exporters
Posted: 18 February 2012

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