Bulgaria is seeing impressive retail growth, with foreign companies entering the market joining the already thriving domestic firms. Shopping culture is changing in the country as the competitive and fast-growing environment encourages companies to offer different retail options. Growing incomes and high demand have hastened the development of malls, retail centres and out-of-town hypermarkets, says a market overview released by consulting outfit Oxford Business Group.

The announcement by the German discounter Plus, part of the Tengelmann group, that it will be opening its first shops in Bulgaria in the first quarter of 2008 marks another entry into the growing Bulgarian retail sector. The company plans a double-digit million euro investment in the country, opening 'several' branches.

Plus follows compatriot firm Kaufland and Lithuanian chain VP Market, both of which are also discounters, into the market. Other international retailers in Bulgaria include Metro, Hit, REWE firm Billa and Ramstore, a Turkish outfit.
The firms are drawn to the country by growth that is averaging around 6% annually. While purchasing power is still relatively low, it is increasing rapidly and foreign and domestic operators are finding that a shopping culture is developing. Companies are offering shopping options such as discount stores, hypermarkets and smaller supermarkets in malls.

Source: news.dnevnik.bg