Firms operating in the grocery retail and food sectors are planning to open more than 100 new outlets in Portugal in the period 2019-2021, new data has revealed.
While the market will continue to see expansion of large-scale stores, the trend is now more focused on the opening of smaller-sized outlets (250-500 square metres) in urban areas, aka proximity stores.
According to a report in daily Jornal de Noticias, the new outlets will be based mostly in the metropolitan areas of Lisbon and Porto.
Winnerules, a company specialized in real estate management and consultancy, has planned €360 million in investments, which will be invested in 83 commercial projects over the next five years.
The pipeline is mainly focused on large-scale outlets (including banners such as Pingo Doce, MyAuchan, Lidl, Aldi or Intermarché) and fast food brands (including Pizza Hut, KFC or Burger King), according to Winnerules partner Luis Espinha.
The projects are said to be at different phases of execution, with the first openings planned for 2019 and 2020.
Most of the banners already operate in Portugal and are strengthening their presence, focusing on the two largest urban centres.
According to Espinha, retailers are likely to focus on "quality" and "proximity" as they seek to expand their offerings.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine.