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Copyright
FMCG
food
e-commerce
,
( ,
, , )
Non-food
,
,
.
,
.
: B2B (-), B2C
(-), C2C ()
-
online retail
- B2C ()
-
offline retail
() *
26%
20%
17%
15%
16%
13%
10%
9%
8%
4%
3%
2009
-2%
2010
2011 .
2,7%,
4,1%
3%
2011
3%
2012
2013
-
2
-4%
**
- ***
- ***
: http://data.worldbank.org/indicator,
Enter
*
**
***
Enter
2011
$15,2
- , ,
,
500 .
72%
$3,4
e-commerce $259,5
22%
18%
14%
12%
8%
7%
6%
3%
2%
Tesco
Metro Group Carrefour
Aldi
2%
0%
2007
2008
2009
2010
2011
-2%
-3%
-4%
-8%
E-commerce
: http://data.worldbank.org/indicator, Eurostat,
Enter
2011
$16,4
,
8,5%
, ,
310 .
78%
28%
$4,2
e-commerce $194,3
Wal-Mart
Costco Kroger
Walgreens
The Home Depot
16%
15%
8%
7%
2%
4%
3%
1%
3%
2%
0%
2007
2008
-2%
2009
2010
2011
-4%
-8%
E-commerce
2 871 .
24%
$4,9
43%
6%
22%
5%
50%
9%
16%
5%
10%
22%
Bailian Group
: http://data.
worldbank.org/indicator, http://
www.gks.ru, Deloitte Report Emerging retail markets beyond China,
Enter
23%
4%
7%
26%
35%
30%
25%
14%
4%
4%
6%
7%
-8% -5%
72%
61%
40%
5%
9%
5%
9%
1%
47%
18%
8%
9%
135%
56%
8%
-2%
30%
150%
X5 Retail Group
21%
17%
e-commerce $111,5
Grupo Pao De Acucar
49%
30%
-1%
$12,4
2011 *
14% 17%
10% 13%
2007
2008
46%
22%
20%
9%
16%
2009
10% 18%
9%
2010
17%
2011
E-commerce
, -,
(
40% ), , -,
.
.
.
:
,
Enter
,
,
.
5
,
, .
,
,
.
.
GRDI, 2011 .
-
TOP-250
, 2010 .
CAGR, 2005-2010 .
78
1,1%
7,7%
10%
105
1,7%
4,6%
9%
13,3%
1,3%
18%
11%
1,4%
53%
16,3%
3,3%
22%
14
9,6%*
~1,8%**
~20%
e-commerce
, 2011 .
e-commerce
CAGR, 2010-2015 .
* ** B2B
: Enter http://data.worldbank.org/indicator, Eurostat, U.S. Census Bureau
http://www.census.gov/, http://www.gks.ru, Global Retail Development Index (A.T.Kearney), www.internetretailer.com, www.retailresearch.org, DATA Insight
TV
Enter
AMAZON () - 2012 .
TESCO (EC)
GRUPO PAO DE ACUCAR () ,
-250
:
FMCG,
,
50%
.
50%,
-3:
macys ()
tjx ()
kohls ()
-3:
the home depot ()
best buy ()
lowes ()
$ 0,3
2010 .
8%
7%
$ 0,6
6%
5%
FMCG
-3:
4%
$ 0,4
3%
:
,
-250
2%
1%
1%
2%
3%
4%
metro ()
target ()
sears ()
5%
$ 2,6
6%
(2005-2010 .)
: Deloitte Report Global Powers of Retailing 2012
-3:
Wal-Mart ()
Carrefour ()
Tesco ()
7%
Suning Appliance
()
Apple stores
()
Amazon
(C)
GameStop
()
20
(2010 .), $
: FMCG,
,
50% .
50%,
15
BM Birleik
()
CRE
()
Lojas americanas
()
10
5
5%
10%
15%
20%
25%
FMCG
30%
(2005-2010 .)
: Deloitte Report Global Powers of Retailing 2012
Wesfarmers
()
()
Jumbo
()
35%
40%
45%
()
Apple
546
Wal-Mart
:
.
210
Amazon
84
76
Tesco
40
Amazon
//
41
Costco
40
Target
39
Lowes
38
EV/EBITDA
TJX
25
Carrefour
Macys
20
Kroger
Suning
Appliance
15
Carrefour
10
Costco
Kroger
Tesco
Metro
Best
Buy
0,2
0,4
Wal-Mart
0,6
The Home
Depot
Lowes
Target
TJX
Lojas
Americanas
Apple
Macys Kohls
0,8
1
EV/Sales
: ( 2012 .)
1,2
1,4
1,6
//
3,5
29
17
17
Kohls
14
13
Metro
13
Suning Appliance
12
Best Buy
Lojas Americanas
9
7
()
:
.
20,0
11,6
5 Retail
Group
EV/EBITDA
15,0
6,4
2,4
OKEY
5 Retail
.
Group
10,0
5,0
0,2
0,4
0,6
EV/Sales
: ( 2012 .)
0,8
1,6
OKEY
1,0
1,2
1,6
0,3
-10
-10 2005-2010 ., %
-10 , 2010 ., $
419
68
Walgreen Co.
67
Walgreen Co.
Target Corp.
66
Target Corp.
6,3%
6,0%
76
8,0%
57
50
49
11,0%
10,3%
2,5%
43
Carrefour S.A.
120
Tesco PLC
92
Metro AG
89
79
67
Rewe Group
61
Carrefour S.A.
Tesco PLC
5,9%
Rewe Group
Groupe Auchan SA
54
41
9,8%
39
3,8%
55
9,3%
Metro AG
Groupe Auchan SA
3,9%
5,4%
4,7%
5,5%
3,2%
-0,1%
-2,00%
0,00%
2,00%
4,00%
6,00%
8,00%
10,00% 12,00%
-10
-10 2005-2010 ., %
-10 , 2010 ., $
18
13
12
19,1%
7,5%
21,8%
X5 Retail Group ()
11
X5 Retail Group ()
37,1%
Suning Appliance Co ()
11
Suning Appliance Co ()
36,5%
"" ()
5
4
"" ()
Dalian Dashang Group ()
38,0%
13,2%
27,7%
12,5%
-3
$419
2010 .*
$210
2012 .
- 16
- 8 361
- 2,1 .
1
6 -
Wal-Mart Wal-Mart Express 1 300 . ,
18 600 . . Wal-Mart
Wal-Mart To Go
Wal-Mart 2011 . Massmart
10%
8%
, %
6%
6,1%
8%
7%
5,9%
4%
7%
4%
: www.walmart.com,
Enter
0%
3%
5,7%
1%
2%
* 12 , 31 2011 .
,
** Net sales
*** Operating income
6%
5,9%
5%
2007
2008
2009
2010 *
6,2%
6,1%
6,0%
5,9%
5,8%
5,7%
5,6%
5,5%
5,4%
, % **
, % ***
, %
, %
Wal-Mart
-3
Kroger
$82
2010 .*
$14
2012 .
5
40 10 .
3 (361 )
5 (1 900 )
150%
100%
2,7%
100%
, %
3,5%
3,2%
50%
0%
2,5%
8%
2%
7%
1%
2008
1,4%
2009
2010 *
-50%
* 52 , 29 2011.
,
** Sales
*** Operating profit
-56%
-100%
2,0%
1,5%
1,0%
0,5%
0,0%
, % **
, % ***
, %
: www.kroger.com,
Enter
3,0%
, %
- 1
- 3 619
- 338 c. .
-3
Costco
$89
2011 .*
$40
2012 .
7
,
$3
Cotsco , 2011 .
$55
30%
20%
, %
2,7%17%
9%
10%
0%
-10%
* 52 , 28 2011 .
,
** Total revenue
*** Operating income
13%
22%
2,7%
2,8%
17%
2,7%
2,6%
2,5%
2008
2009
-1%
2010
2011 *
-10%
2,5%
2,4%
2,3%
-20%
, % **
, % ***
, %
: www.costco.com,
Enter
14%
2,7%
, %
- 9
- 3 619
- 164 . .
$34
2010 .*
$84
2012 .
- 8
- 0
- 56 . .
1 . Amazon
- Wal-Mart, Target Buy.com
2011 . Amazon Wal-Mart 1991 .
Amazon fulfillment centers
2 4 . 2011 ., Apple
Amazon 4- 10
Amazon 1- -
80%
, %
* 12 , 31 2010 .
,
** Net sales
*** Income from operations
: www.amazon.com,
Enter
4,8%
68%
4,6%
4,6%
60%
40%
39%
4,4%
4,4%
29% 29%
28%
34%
20%
0%
2007
2008
2009
4,4%
40%
25%
4,2%
4,1%
4,0%
2010*
3,8%
, % **
, % ***
, %
, %
Amazon
-3
$120
2010 .*
$17
2012 .
- 32
- 9 500
- 471 . .
2
2010 .
Carrefour Planet: 100 000 . 2011 .
100
Carrefour 97 ,
Credit Mutue
20%
10%
, %
0%
-10%
-20%
-30%
7% 4,1%
2%
2007
6%
6%
3,2%
2008
-17%
2009
-2%
1,9%
11%
4,0%
2010 *
2,0%
: www.carrefour.com,
Enter
3,0%
2,0%
1,0%
-40%
* 12 , 31 2010 .
,
** Net sales
*** Operating income 2009-2010 ., EBIT 2006-2008 .
5,0%
-40%
-50%
0,0%
, % **
, % ***
, %
, %
Carrefour
-3
$94
2010 .*
$41
2012 .
- 13
- 5 380
- 493 . .
3 ( Wal-Mart Carrefour) 2
Tesco
900 000 9 2011 .
Tesco , -
8,8%
11%
, %
6,3%
14% 14%
15%
10%
6,1%9%
10%
5,9%
5%
5%
5,9%
6%
7%
6,3%
6,2%
6,1%
6,0%
5,9%
5,8%
5,7%
* 52 , 26 2011.
,
** Revenue (sales excl.VAT)
*** Operating profit
: www.tesco.com,
Enter
0%
2007
2008
2009
2010 *
5,6%
, % **
, % ***
, %
, %
Tesco
-3
$93
2011 .*
$13
2012 .
- 32
- 2 200
- 285 . .
Metro Group 4
, -10 ,
Metro Cash & Carry Real 2011.
2012 . 40-100 .
* 12 , 31
2011.
,
** Sales
*** EBIT before special items
:
www.metrogroup.ru,
Enter
, %
25%
20%
15%
10%
5%
0%
-5%
-10%
-15%
3,8%
3,6%
3,6%
19%
6% 7%
3,3%
2008
3,4%
3%
3,1%
2009
-4%
3,6%
3,2%
2010
2011*
-1% -2%
-9%
3,0%
2,8%
, % **
, % ***
, %
, %
Metro Group
Grupo Pao
de Acucar
$18
2010 .*
e-commerce 7%
,
, - ( )
$12
- 1
- 1 577
- 158 . .
, %
30%
:
www.grupopaodeacucar.com.br,
Enter
6,7%
20%
10%
0%
* 12 , 31
2010.
,
** Net sales
7,3%
40%
38% 37%
33%
21%
29%
7,0%
6,5%
6,4%
12%
7%
2008
2009
2010 *
, % **
EBITDA, %
EBITDA, %
6,5%
6,0%
14%
2007
7,5%
5,5%
, %
2012 .
Bailian Group
$13 *
2010 .
- 1
- 6 000
- 6 900 .
Lianhua
33
66
:
,
*
: www.bailiangroup.cn,
Enter
2011
54,5 .
141,8 .*
44,3%
52% non-food
1 -
- 40% 60%
e-commerce
, 2011 ~ 19 .
e-commerce ~ 320 . **
* 1 2011
** B2B
%
50%
X5 Retail Group
.
Auchan Metro Group
:
Enter http://www.gks.ru, .
. , 40
(305), www.gazeta.ru/business/2011/11/14/3833646.shtml,
DATA Insight, InSales
30%
16%
9%
35%
14%
4% 6%
5%
2007
2008
*
2009
-8% -5%
**
30%
25%
2010
E-commerce
*
**
4% 7%
2011
19 . 2011 .
2009-2011 .*
2011 .
11%
52%
non-food
food
2%
FOOD
40%
non-food (
, )
3%
, DIY, ,
NON-FOOD
*
** , .
2009 .
33%**
: http://www.gks.ru
.
,
, DIY,
,
,
144,0
143,5
143,0
142,5
142,0
141,5
141,0
140,5
140,0
139,5
144,0
143,5 143,5
143,5
12,5 12,6
12,4 12,6
12,1 12,5
12,1 12,4
11,3
11,3
143,0 10,4
10,2 10,4
10,2
142,5
142,2 142,2
141,9 141,9
142,0
141,8 141,8
141,5
141,1
141,0
140,5
140,0
139,5
2005 2007
2006 2008
2007 2009
2008 2010
2009 2011
2010 2012
2011 2013
2012
2005 2006
,
,
,
2010 2010
16
14
12
10
8
141,1
6
4
2
0
2013
1000
,
1000
,
( 1 ),
( 1 ),
. .
: http://www.gks.ru
:
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:
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30
30
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(
27%)
(
27%)
16
14
12
10
8
6
4
2 0%
0
0-29 0-29
14,7%
38,3%
14,7%
29,2% 29,2%
17,7% 17,7%
30-40
30-40
40-59
40-59
60
60
0%
20%
20%
40%
40%
60%
60%
80%
80%
100% 100%
2008-2009 .
,
%
100%
90%
60%
22
19
431
451
422
409
2009
2010
355
20
16
304
17
16
14
13
2006
24
20
18
30
540
20
18
20%
0%
23
20
17
30%
10%
19
17
50%
40%
15
13
80%
70%
10
,
. 1000
22
2007
11
15
9
16
12
10
2008
2009
2010
5000,0
5000,1-7000,0
7000,1-10000,0
10000,1-15000,0
15000,1-25000,0
25000,1
: http://www.gks.ru
2005
2006
2007
2008
2011
-
2011 . - 2012 .
ozon
, 2011 ., - .,
390 . 3,9 .
. - (.)
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enter
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$215
sapato
40%
2010 ., .
70%
2010 ., %
30%
, %
, 2011.
60%
2010 ., %
40%
30%
20%
2010 ., %
100%
10%
2006-2010 ., % *
100%
*
: http://www.gks.ru, 2010
http://www.ria.ru/research/
-5
0,685
0,790
. -
0,669
. -
0,783
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0,524
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0,731
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0,870
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1
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: http://www.gks.ru,
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1 .
2 . -
3
4
5
10
6
7
8
9
10
--
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* Enter
(. )
2-3
lazurit
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241
: Enter
86
62
93
1 100
100
5001000
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24
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91
12
250500
38
()
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17
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, . .
non-food
2009-2011 . **
***
***
11
250 425
73 674
60 025
57 283
45 167
2,6%
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: http://www.gks.ru, Enter
. 2
7
14
non-food
, . .
12
51 302
64 947
49 752
51 976
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3,2%
**
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-
**
15%
14%
8%
3%
*
** .
: http://www.gks.ru, Enter
20
17
**
20
13
13
11
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5
7
3
11
5
11
12
16
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13
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3
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100 .
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%
1
(. )
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3%
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66%
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62%
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37%
21%
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40%0%
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,
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,
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.
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-,
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) . ,
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+ (4%)
90****
18%
( 3,5%)
320
15%
(0,5%)
*
** , , , , , , .
*** ,
****
: Enter
, 2011 . 879 .
2012 . 17%
-: 2011 . 11%
879
*
.
~ 17%
2012 .
(11%)
svyaznoy.ru
*
: Enter
- **
254
75%
2%
2 790
95%
22%
4 335
99%
48%
667***
89%
5%
* , ** , -
3 *** ,
: Enter
()
, 2011 . 221 .
2012 . 17%
-: 2011 . 7%
221
*
.
~ 17%
2012 .
mvideo.rU
*
: Enter
MediaMarkt
holodilnik.ru
eldorado.ru
+ (7%)
- **
254
75%
2%
667***
89%
5%
36
17%
8%
mediamarkt
* , ** , -
3 *** ,
: Enter
.
10-15% ,
.
,
,
Enter
.
-,
.
-.
,
.
, 2011 . 723 .
2012 . 12%
- 0,5-1%,
DIY
~ 12%
723
*,**
.
2012 .
DIY
(0,5%)
leroy merlin
castorama
vseinstrumenti.ru 220-volt.ru
toool.ru
eurodom.ru
domosti.ru
obi
* ** , , , , , , .
: Enter
DIY
3-5
DIY
, .. ,
.
X5 Retail
Group Auchan, .
,
DIY Enter
DIY
-
- **
leroy merlin
20
13%
0%
obi
19
11%
0%
castorama
18
16%
0%
* , ** , -
3
: Enter
- **
auchan
45
14%
0%
metro &C
58
43%
0%
378 ***
59%
12%
x5 retail group
* , ** , -
3 ***-
: Enter
, 2011 . 400 .
2012 . 15%
( 4%)
~ 15%
400
*
.
2012 .
IKEA
*
: Enter
+ (4%)
,
2012 .
.
,
15-17%
.
.
.
,
Enter
- .
10%
. ,
2012-2015 .
.
, ,
.
- **
IKEA
14
14%
0%
148
28%
9%
1 421
96%
31%
* , ** , -
3
: Enter
, 2011 . 340 .
2012 . 29%
- 4-5%.
340
*,**
.
~ 29%
2012 .
* ** ,
: Enter
+ (4%)
&
5
2017 . $22-25.
.
,
.
,
.
.
,
Enter
150
65%
17%
139
12%
7%
&
62
35%
2%
- **
* , ** , -
3
: Enter
, 2011 . 90 .
2012 . 18%
- 3,5-4%.
~ 18%
90
*,**
.
2012 .
( 3,5%)
Decathlon
* **
: Enter
25-30%
.
,
,
15-20% .
,
Enter
233
69%
5%
86
66%
0%
decathlon
10
7%
0%
- **
* , ** , -
3
: Enter
, 2011 . 320 .
2012 . 15%
- 0,5%
~ 15%
320
*
.
2012 .
(0,5%)
585
love-sl.ru
*
: Enter
miuz.ru
alltime.ru
bestwatch.ru
585
203
42%
0%
282
29%
0%
179
54%
0%
- **
* , ** , -
3
: Enter
E-COMMERCE
,
,
(e-commerce
,
, ..)
(
)
Wal-Mart - (1 )
- (6 ), Amazon (1
-)
m-commerce, ,
. , QR-
: Enter
* , . 2, 2012 .
** http://www.livemint.com/2012/01/30230651/Fund-infusion-values-Flipkart.html
,
,
, 88% (
72%, 51%)*
(40-50% )
,
. ,
VCCEdge, 2011 .
67
$500
, 2010 .
18
$112
**
: Enter
:
2-3 . non-food 2
(
30 ) 2 ,
: Enter
( 0,3%
, )
1.0
2.0
2011
2015
: Enter
non-food
2
:
;
(
, ,
.).
2011 .
2012-2015 .
.
non-food
-
,
-
( 20%
non-food ).
non-food
(,
, ).
(
100-500 .
);
-
.
: ,
:
: Enter
, ,
-
( ,
, , ).
2011 .
2012-2015 .
-,
,
, -
, (X5 Retail Group, Auchan,
.)
-.
- ,
.
: Enter
:
,
,
(, Facebook .).
(
)
(,
,
, ),
.
NON-food
2012-2015 .
: Enter
DIY
DIY
2012-2015 .