Retail in Chile - Research and Markets

A slow year in 2023 was a significant challenge for retail in Chile. Elevated inflation and steady price rises continued to impact the retail industry, leading to a steep drop in demand from consumers, who looked to postpone purchases as much as possible, increasingly looking at the second-hand and refurbished markets, as well as to informal sellers of products in all categories, as they attempted to find options that were better adapted to their budgets.

The Retail in Chile report offers insight into key trends and developments driving the industry. The report examines all retail channels to provide sector insight. Channels include hypermarkets, supermarkets, discounters, convenience stores, mixed retailers, health and beauty retailers, clothing and footwear retailers, furniture and furnishing stores, DIY and hardware stores, durable goods retailers, leisure and personal goods retailers. There are profiles of leading retailers, with analysis of their performance and the challenges they face. There is also analysis of non-store retailing: vending; homeshopping; internet retailing; direct selling, as available.

Product coverage: Retail E-Commerce, Retail Offline.

Data coverage: Market sizes (historic and forecasts), company shares, brand shares and distribution data.

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RETAIL IN CHILE

EXECUTIVE SUMMARY

Retail in 2023: The big picture
Greater connection between digital and physical still needed
Local consumers are searching for innovation
What next for retail?

OPERATING ENVIRONMENT

Informal retail
Opening hours for physical retail
Summary 1 Standard Opening Hours by Channel Type 2023
Seasonality
Christmas and New Year
Back to School
Independence Day

MARKET DATA

Table 1 Sales in Retail by Retail Offline vs Retail E-Commerce: Value 2018-2023
Table 2 Sales in Retail by Retail Offline vs Retail E-Commerce: % Value Growth 2018-2023
Table 3 Sales in Retail Offline by Channel: Value 2018-2023
Table 4 Sales in Retail Offline by Channel: % Value Growth 2018-2023
Table 5 Retail Offline Outlets by Channel: Units 2018-2023
Table 6 Retail Offline Outlets by Channel: % Unit Growth 2018-2023
Table 7 Sales in Retail E-Commerce by Product: Value 2018-2023
Table 8 Sales in Retail E-Commerce by Product: % Value Growth 2018-2023
Table 9 Grocery Retailers: Value Sales, Outlets and Selling Space 2018-2023
Table 10 Grocery Retailers: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 11 Sales in Grocery Retailers by Channel: Value 2018-2023
Table 12 Sales in Grocery Retailers by Channel: % Value Growth 2018-2023
Table 13 Grocery Retailers Outlets by Channel: Units 2018-2023
Table 14 Grocery Retailers Outlets by Channel: % Unit Growth 2018-2023
Table 15 Non-Grocery Retailers: Value Sales, Outlets and Selling Space 2018-2023
Table 16 Non-Grocery Retailers: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 17 Sales in Non-Grocery Retailers by Channel: Value 2018-2023
Table 18 Sales in Non-Grocery Retailers by Channel: % Value Growth 2018-2023
Table 19 Non-Grocery Retailers Outlets by Channel: Units 2018-2023
Table 20 Non-Grocery Retailers Outlets by Channel: % Unit Growth 2018-2023
Table 21 Retail GBO Company Shares: % Value 2019-2023
Table 22 Retail GBN Brand Shares: % Value 2020-2023
Table 23 Retail Offline GBO Company Shares: % Value 2019-2023
Table 24 Retail Offline GBN Brand Shares: % Value 2020-2023
Table 25 Retail Offline LBN Brand Shares: Outlets 2020-2023
Table 26 Retail E-Commerce GBO Company Shares: % Value 2019-2023
Table 27 Retail E-Commerce GBN Brand Shares: % Value 2020-2023
Table 28 Grocery Retailers GBO Company Shares: % Value 2019-2023
Table 29 Grocery Retailers GBN Brand Shares: % Value 2020-2023
Table 30 Grocery Retailers LBN Brand Shares: Outlets 2020-2023
Table 31 Non-Grocery Retailers GBO Company Shares: % Value 2019-2023
Table 32 Non-Grocery Retailers GBN Brand Shares: % Value 2020-2023
Table 33 Non-Grocery Retailers LBN Brand Shares: Outlets 2020-2023
Table 34 Forecast Sales in Retail by Retail Offline vs Retail E-Commerce: Value 2023-2028
Table 35 Forecast Sales in Retail by Retail Offline vs Retail E-Commerce: % Value Growth 2023-2028
Table 36 Forecast Sales in Retail Offline by Channel: Value 2023-2028
Table 37 Forecast Sales in Retail Offline by Channel: % Value Growth 2023-2028
Table 38 Forecast Retail Offline Outlets by Channel: Units 2023-2028
Table 39 Forecast Retail Offline Outlets by Channel: % Unit Growth 2023-2028
Table 40 Forecast Sales in Retail E-Commerce by Product: Value 2023-2028
Table 41 Forecast Sales in Retail E-Commerce by Product: % Value Growth 2023-2028
Table 42 Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 43 Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
Table 44 Forecast Sales in Grocery Retailers by Channel: Value 2023-2028
Table 45 Forecast Sales in Grocery Retailers by Channel: % Value Growth 2023-2028
Table 46 Forecast Grocery Retailers Outlets by Channel: Units 2023-2028
Table 47 Forecast Grocery Retailers Outlets by Channel: % Unit Growth 2023-2028
Table 48 Non-Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 49 Non-Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
Table 50 Forecast Sales in Non-Grocery Retailers by Channel: Value 2023-2028
Table 51 Forecast Sales in Non-Grocery Retailers by Channel: % Value Growth 2023-2028
Table 52 Forecast Non-Grocery Retailers Outlets by Channel: Units 2023-2028
Table 53 Forecast Non-Grocery Retailers Outlets by Channel: % Unit Growth 2023-2028

DISCLAIMER

SOURCES

Summary 2 Research Sources

CONVENIENCE RETAILERS IN CHILEKEY DATA FINDINGS

2023 DEVELOPMENTS

Standalone stores driven by forecourt retailers as latter continue to expand
Spid continues to expand, bringing Cencosud closer to consumers
OXXO retains leadership of outlet numbers but gains attention of competition authorities

PROSPECTS AND OPPORTUNITIES

Innovation of certain product lines can increase foot traffic
Space for alliances and digital payments within convenience retailers
New player Gulf enters forecourt retailers

CHANNEL DATA

Table 54 Convenience Retailers: Value Sales, Outlets and Selling Space 2018-2023
Table 55 Convenience Retailers: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 56 Sales in Convenience Retailers by Channel: Value 2018-2023
Table 57 Sales in Convenience Retailers by Channel: % Value Growth 2018-2023
Table 58 Convenience Retailers GBO Company Shares: % Value 2019-2023
Table 59 Convenience Retailers GBN Brand Shares: % Value 2020-2023
Table 60 Convenience Retailers LBN Brand Shares: Outlets 2020-2023
Table 61 Convenience Retailers Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 62 Convenience Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
Table 63 Forecast Sales in Convenience Retailers by Channel: Value 2023-2028
Table 64 Forecast Sales in Convenience Retailers by Channel: % Value Growth 2023-2028

DISCOUNTERS IN CHILEKEY DATA FINDINGS

2023 DEVELOPMENTS

Slowing sales and outlet expansion for discounters following surge in 2022
Walmart’s Bodega ACuenta remains overall leading discounter chain
No new players enter Chilean discounters in 2023

PROSPECTS AND OPPORTUNITIES

Discounters not expected to experience significant change over the forecast period
Private label remains important, but needs stronger development
E-commerce development still lags behind competing channels

CHANNEL DATA

Table 65 Discounters: Value Sales, Outlets and Selling Space 2018-2023
Table 66 Discounters: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 67 Discounters GBO Company Shares: % Value 2019-2023
Table 68 Discounters GBN Brand Shares: % Value 2020-2023
Table 69 Discounters LBN Brand Shares: Outlets 2020-2023
Table 70 Discounters Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 71 Discounters Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028

HYPERMARKETS IN CHILEKEY DATA FINDINGS

2023 DEVELOPMENTS

Security concerns remain top of mind for hypermarket operators
Cencosud focuses on launching new payment capabilities
Walmart Chile launches Marketplace to further align with its global strategy

PROSPECTS AND OPPORTUNITIES

Established chains likely to focus on omnichannel approach
Players to increasingly focus on expanding offer, including private label
Loyalty rewards to regain importance in Chile

CHANNEL DATA

Table 72 Hypermarkets: Value Sales, Outlets and Selling Space 2018-2023
Table 73 Hypermarkets: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 74 Hypermarkets GBO Company Shares: % Value 2019-2023
Table 75 Hypermarkets GBN Brand Shares: % Value 2020-2023
Table 76 Hypermarkets LBN Brand Shares: Outlets 2020-2023
Table 77 Hypermarkets Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 78 Hypermarkets Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028

SUPERMARKETS IN CHILEKEY DATA FINDINGS

2023 DEVELOPMENTS

Supermarkets remains important grocery channel, with store numbers continuing to dynamically grow
Technologically-driven engagement not a focus for players
Independent and regional players continue to experience limited growth

PROSPECTS AND OPPORTUNITIES

Lower prices via supermarkets set to increase in number to combat competition
Opening of outlets to remain an area of focus over the forecast period
E-commerce to increasingly become part of omnichannel strategies

CHANNEL DATA

Table 79 Supermarkets: Value Sales, Outlets and Selling Space 2018-2023
Table 80 Supermarkets: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 81 Supermarkets GBO Company Shares: % Value 2019-2023
Table 82 Supermarkets GBN Brand Shares: % Value 2020-2023
Table 83 Supermarkets LBN Brand Shares: Outlets 2020-2023
Table 84 Supermarkets Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 85 Supermarkets Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028

SMALL LOCAL GROCERS IN CHILEKEY DATA FINDINGS

2023 DEVELOPMENTS

Chileans appreciate the chance to buy local and benefit their communities
Issues accessing funds limits expansion and innovation for small local grocers
Innovation and specialisation key elements going forward

PROSPECTS AND OPPORTUNITIES

Small local grocers expected to lose ground over forecast period
Shifting cities to become a challenge in the coming years
Channel players to remain relevant by offering additional services

CHANNEL DATA

Table 86 Small Local Grocers: Value Sales, Outlets and Selling Space 2018-2023
Table 87 Small Local Grocers: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 88 Small Local Grocers Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 89 Small Local Grocers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028

APPAREL AND FOOTWEAR SPECIALISTS IN CHILEKEY DATA FINDINGS

2023 DEVELOPMENTS

Independent players experience a difficult year
Multitiendas Corona revamps and leverages omnichannel strategy to remain on top
H&M expands and remodels flagship store

PROSPECTS AND OPPORTUNITIES

Continual arrival of international brands but local players to focus on slow fashion
Luxury, while niche, set to record important growth
Department stores and e-commerce to remain significant competitors to specialists

CHANNEL DATA

Table 90 Apparel and Footwear Specialists: Value Sales, Outlets and Selling Space 2018-2023
Table 91 Apparel and Footwear Specialists: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 92 Apparel and Footwear Specialists GBO Company Shares: % Value 2019-2023
Table 93 Apparel and Footwear Specialists GBN Brand Shares: % Value 2020-2023
Table 94 Apparel and Footwear Specialists LBN Brand Shares: Outlets 2020-2023
Table 95 Apparel and Footwear Specialists Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 96 Apparel and Footwear Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028

APPLIANCES AND ELECTRONICS SPECIALISTS IN CHILEKEY DATA FINDINGS

2023 DEVELOPMENTS

Promotional activities in attempt to drive sales of appliances and electronics in 2023
ABC DIN looks to merge with La Polar in a process that is likely to extend into 2024
Independent players continue to experience challenging times

PROSPECTS AND OPPORTUNITIES

Inflation likely to remain a concern heading into 2024
E-commerce will continue to place pressure on physical specialists
Opportunities can be found in sustainability

CHANNEL DATA

Table 97 Appliances and Electronics Specialists: Value Sales, Outlets and Selling Space 2018-2023
Table 98 Appliances and Electronics Specialists: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 99 Appliances and Electronics Specialists GBO Company Shares: % Value 2019-2023
Table 100 Appliances and Electronics Specialists GBN Brand Shares: % Value 2020-2023
Table 101 Appliances and Electronics Specialists LBN Brand Shares: Outlets 2020-2023
Table 102 Appliances and Electronics Specialists Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 103 Appliances and Electronics Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028

HEALTH AND BEAUTY SPECIALISTS IN CHILEKEY DATA FINDINGS

2023 DEVELOPMENTS

Pharmacies continues to expand, while ownership of Farmacias Ahumada is changing
Beauty specialist Maicao sees new opportunity in offering pharmacy products
By partnering with Kiko Milano, DBS Beauty Store achieves a long sought-after goal

PROSPECTS AND OPPORTUNITIES

K-Beauty to gain new followers, and focused retailers to expand store footprint
Greater competition for pharmacies likely over the forecast period
Loyalty propositions can be leveraged for increased purchases

CHANNEL DATA

Table 104 Health and Beauty Specialists: Value Sales, Outlets and Selling Space 2018-2023
Table 105 Health and Beauty Specialists: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 106 Sales in Health and Beauty Specialists by Channel: Value 2018-2023
Table 107 Sales in Health and Beauty Specialists by Channel: % Value Growth 2018-2023
Table 108 Health and Beauty Specialists GBO Company Shares: % Value 2019-2023
Table 109 Health and Beauty Specialists GBN Brand Shares: % Value 2020-2023
Table 110 Health and Beauty Specialists LBN Brand Shares: Outlets 2020-2023
Table 111 Health and Beauty Specialists Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 112 Health and Beauty Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
Table 113 Forecast Sales in Health and Beauty Specialists by Channel: Value 2023-2028
Table 114 Forecast Sales in Health and Beauty Specialists by Channel: % Value Growth 2023-2028

HOME PRODUCTS SPECIALISTS IN CHILEKEY DATA FINDINGS

2023 DEVELOPMENTS

Further shift online forces channel players to adjust strategies
Pet shops and superstores stand out in terms of outlet growth
IKEA finds a stronger footing in the local market

PROSPECTS AND OPPORTUNITIES

Sustainability set to be an important topic in the channel over the forecast period
Easy and Sodimac to reactivate a more intense opening of stores
No new international arrivals mentioned for the near future

CHANNEL DATA

Table 115 Home Products Specialists: Value Sales, Outlets and Selling Space 2018-2023
Table 116 Home Products Specialists: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 117 Sales in Home Products Specialists by Channel: Value 2018-2023
Table 118 Sales in Home Products Specialists by Channel: % Value Growth 2018-2023
Table 119 Home Products Specialists GBO Company Shares: % Value 2019-2023
Table 120 Home Products Specialists GBN Brand Shares: % Value 2020-2023
Table 121 Home Products Specialists LBN Brand Shares: Outlets 2020-2023
Table 122 Home Products Specialists Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 123 Home Products Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
Table 124 Forecast Sales in Home Products Specialists by Channel: Value 2023-2028
Table 125 Forecast Sales in Home Products Specialists by Channel: % Value Growth 2023-2028

GENERAL MERCHANDISE STORES IN CHILEKEY DATA FINDINGS

2023 DEVELOPMENTS

Further sales decline for physical department stores in 2023
Falabella remains challenged in terms of adapting to changing times
La Polar and ABC DIN merger approved

PROSPECTS AND OPPORTUNITIES

Value growth to return to more stable levels over the forecast period
Leading players set to resume opening of outlets
E-commerce will continue to cannibalise sales of department stores

CHANNEL DATA

Table 126 General Merchandise Stores: Value Sales, Outlets and Selling Space 2018-2023
Table 127 General Merchandise Stores: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 128 Sales in General Merchandise Stores by Channel: Value 2018-2023
Table 129 Sales in General Merchandise Stores by Channel: % Value Growth 2018-2023
Table 130 General Merchandise Stores GBO Company Shares: % Value 2019-2023
Table 131 General Merchandise Stores GBN Brand Shares: % Value 2020-2023
Table 132 General Merchandise Stores LBN Brand Shares: Outlets 2020-2023
Table 133 General Merchandise Stores Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 134 General Merchandise Stores Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
Table 135 Forecast Sales in General Merchandise Stores by Channel: Value 2023-2028
Table 136 Forecast Sales in General Merchandise Stores by Channel: % Value Growth 2023-2028

DIRECT SELLING IN CHILEKEY DATA FINDINGS

2023 DEVELOPMENTS

Beauty and personal care remains most important product category for direct selling
Competition for direct selling from other retail channels
Natura & Co sells The Body Shop to focus on direct selling

PROSPECTS AND OPPORTUNITIES

Experiences still limited in the channel
No new players likely to enter direct selling in the short term
Channel mix to remain stable in Chile

CHANNEL DATA

Table 137 Direct Selling by Product: Value 2018-2023
Table 138 Direct Selling by Product: % Value Growth 2018-2023
Table 139 Direct Selling GBO Company Shares: % Value 2019-2023
Table 140 Direct Selling GBN Brand Shares: % Value 2020-2023
Table 141 Direct Selling Forecasts by Product: Value 2023-2028
Table 142 Direct Selling Forecasts by Product: % Value Growth 2023-2028

VENDING IN CHILEKEY DATA FINDINGS

2023 DEVELOPMENTS

Vending innovations extremely rare
Lider al Paso concept from Walmart continues expansion in Chile

PROSPECTS AND OPPORTUNITIES

Greater efforts in terms of innovation likely over the forecast period
Vending likely to further adapt to demand for more efficient and cashless payments

CHANNEL DATA

Table 143 Vending by Product: Value 2018-2023
Table 144 Vending by Product: % Value Growth 2018-2023
Table 145 Vending GBO Company Shares: % Value 2019-2023
Table 146 Vending GBN Brand Shares: % Value 2020-2023
Table 147 Vending Forecasts by Product: Value 2023-2028
Table 148 Vending Forecasts by Product: % Value Growth 2023-2028

RETAIL E-COMMERCE IN CHILEKEY DATA FINDINGS

2023 DEVELOPMENTS

Costs of shipping drive consumers to click-and-collect
Home products and groceries continue to drive e-commerce sales in 2023
Key players maintain channel leadership

PROSPECTS AND OPPORTUNITIES

E-commerce set for further growth, but players still need to review omnichannel strategies
Loyalty programmes to gain importance in attracting consumers
Marketplaces to remain dynamic driver of e-commerce growth

CHANNEL DATA

Table 149 Retail E-Commerce by Channel: Value 2017-2022
Table 150 Retail E-Commerce by Channel: % Value Growth 2017-2022
Table 151 Retail E-Commerce by Product: Value 2017-2022
Table 152 Retail E-Commerce by Product: % Value Growth 2017-2022
Table 153 Retail E-Commerce GBO Company Shares: % Value 2018-2022
Table 154 Retail E-Commerce GBN Brand Shares: % Value 2019-2022
Table 155 Forecast Retail E-Commerce by Channel: Value 2022-2027
Table 156 Forecast Retail E-Commerce by Channel: % Value Growth 2022-2027
Table 157 Forecast Retail E-Commerce by Product: Value 2022-2027
Table 158 Forecast Retail E-Commerce by Product: % Value Growth 2022-2027

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