Meet Eco Market
Eco Market is placed on the highway Tirana-Durrës and is one of the biggest retailers in Albania.
Eco Market shpk began operations in the retail sector in February 2013. Its aim is to become a major player in the retail industry in Albania, through developing a network of stores of 250-500m located in densely populated areas, which in the local market have revealed to be the most attractive format for the final consumer, by bringing the services closer to them. The Company’s business activity is operation of modern trade through “Express” format stores, with focus on market products categorized as dry food, fresh food, and non-food products, as well as non-market products as per local demand.
As of June 2015, the Company is operating, actively, through 13 stores in the areas of Tirana, Durrës and Fier. During 2013, Eco Market started expansion, by successfully opening 6 stores, within 10 months of activity, in 2014 with 6 opening stores, in April 2015 was opened 1 store and till the end of 2015 will be open new store in hypermarket format. The start-up of the activity and business organization, as well the expansion strategy, were also boosted by Deloitte global expertise introducing avant-garde category management and strategic sourcing.
Currently, there are 13 stores in operation, 10 are located in Tirana, 2 in Durrës and 1 in Fier. Store awareness has steadily increased, due to their location in urban areas with a high number of populations. Some of the locations in Tirana include “Tirana e Re”, “Komuna e Parisit” and Kavaja Street. In Durrës, the Company has opened a store in Flagship Center, one of the major business centers in the city, and in Lalzi bay, a highly frequented residential and touristic area. The total number of employees was 160, in June 2015, up from 74 in December 2013. Every store is operated on average by 10 employees and store areas range between 250-500 m2. Total selling area in June 2015 was 4.000 m and with forecast of the new hypermarket in the end of 2015 the selling area will be 6000 m.
The Company manages a wide range of products, with an advanced category management approach, optimized through dedicated performance measurements on a monthly, quarterly and yearly basis. Overall, Eco Market trades 10.000 products in Total, which have revealed to be the most attractive portfolio for its customer. The attractive pricing of these products is achieved through applying strategic sourcing concepts implemented in collaboration with DELOITTE global expertise.
Future Development Plan
Eco Market developed a strategy to enter the retail market through “Express” format stores, aiming at developing customer awareness and loyalty. This model brings the services closer to customer needs and encourages continuous purchasing behavior.
During the first expansion phase, Eco Market opened circa 1 store in two months and by the end of 2017, it is expects to reach a chain of 25 stores, following the same strategy.
The expansion was assisted by strategic suppliers, benefitting from their know-how and interest for long-term collaboration. Due to this fact, the invested volumes in the reconstruction of stores were optimized with a high standard of quality. The approximate value of investment per PoS was circa EUR 207 per m2 (sales area), including overhead costs of general administration offices.