According to Kilpiä, Estonian trade is quite similar to Finnish trade. In both countries, local production is highly valued and it is not possible to run a shop without it. On the other hand, in Estonia the competition is much greater and there are many strong chain stores.
In the mid-2000s Prisma only had four large hypermarkets in Tallinn, but even then it was said that there was already too much retail space in Estonia. Consumers have to pay for the excess money invested in concrete, especially since many large shopping centers are empty of visitors during the day. How do you see this and why have you nevertheless chosen to expand rapidly in recent years?
Sure there are a lot of square meters of retail space in Estonia, but there is still room in the market for a cheaper shop with a large selection. This concept works. We are looking for new places where it makes sense to open shops, but in Estonia there are no longer many buildings or land suitable for trade.
Inefficient shops sooner or later close their doors in market economy conditions. There is no other grass. Our competitors are also rapidly opening new stores, but every investment decision is evaluated very carefully. No one is willing to keep unprofitable stores open for a long time.
2023-12-26 23:56:19
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