Italian Discounter MD Finishes Yr With Far more Than 800 Shops

Italian discounter MD has noted a robust yr in terms of turnover and new store openings, irrespective of the difficulties of the COVID-19 pandemic.

The retailer ended the to start with fifty percent of the year with a 15.95% turnover advancement on the exact period of time in 2019, noting that this optimistic craze is also possible to be confirmed in the 2nd 50 %.

It also recorded a 10% advancement in foods gross sales, compared to an average advancement of 4.5% for the discounted channel.

Speaking to each day Il Sole 24 Ore, CEO Patrizio Podini explained that the group’s efficiency is even much more important in light of the simple fact that FMCG prices in the period of time from January to Might fell by .5% compared to the identical period of time in 2019.

Expense

MD has earmarked €250 million for investments in the interval 2020-2021, mostly for the opening of 40 new format merchants (32 direct and 10 affiliates), just about every boasting a product sales area of involving 1,500 and 2,000 sq. metres.

Irrespective of the lockdown and the health crisis, the retailer opened 25 new shops final calendar year, the two specifically owned and affiliated, getting its whole to around 800.

In addition, the pandemic accelerated the group’s electronic sales. In the period of time January-May 2020, on line product sales of non-foodstuff merchandise grew by 70% in contrast to the very same period of time in 2019, while digital payments achieved peaks of 80% to 90% all through the lockdown interval.

To cope with the pandemic, MD invested in excess of €6 million (in the period to September 2020 for the safety of workforce and prospects.

MD is the 2nd most significant Italian-owned discounter and the third premier in terms of turnover, with a 16% share of the price reduction segment.