Group items tagged

In fact, some economists see location as an “asset” in and of itself. Even if living in expensive areas yields sparser real savings right now, it can be a beneficial “investment” for the future because it provides greater access to cultural benefits, educational opportunities, and jobs. In other words, a host of factors come into play when you’re evaluating the tradeoff of living in any place—and how they’re weighed depends on what we, as individuals, value.

In the 1990s, the term “modern grocery retail” was essentially a proxy for a small group of multinational grocers including Ahold, Aldi, Auchan, Carrefour, Costco, Lidl, Metro, Tesco, and Walmart. It was widely presumed that these retailers’ entry into any market would lead to the demise of the traditional trade—the family-owned grocery chains, small independent stores, and informal merchants that at the time accounted for the vast majority of grocery sales in emerging markets. The prevailing expectation was that although there would be local differences due to cultural specificities, in every country the retail landscape would eventually consist of a combination of modern formats: full-line supermarkets and hypermarkets, convenience stores, and discounters. These assumptions have been proved wrong. Global grocery giants are struggling to grow profitably in many emerging markets. Traditional trade has proved remarkably resilient. And the market and channel structures taking shape in individual emerging economies are distinct from one another, following no obvious pattern.