As the England football team attempts to retain some pride in its final World Cup match against Costa Rica tonight, Retail Week looks at how its competition fares in the retail stakes.
The big match preview: June 24, Belo Horizonte
Stats: Given the high levels of competition and the further orientation towards price-based value offers, smaller independent retailers are finding it hard to keep pace with growing chain retailers and international franchises in Costa Rica.
Who to watch out for: From a retail perspective Costa Rica is best known as an agricultural exporter, particularly of pineapples, bananas and coffee. Its regionally affluent consumer base has started to attract new entrants and these international brands plus market consolidation and the arrival of Walmart have continued to see retail spend shift to larger players.
Walmart entered the region in 2005 and now has 215 stores in the country.
Multiplaza Shoping Mall in Escazu, in capital San Jose, is the largest in Central America and its 246 outlets include Zara and Mango. Matching it for size will be Honduran-financed City Mall, which has recently started construction in second city Alajuela and where tenants will include Express, MNG, Springfield, International, Johnny Rockets and New Balance.
International brands have been attracted by the growth in contemporary malls and upmarket mixed use schemes such as Avenida Ecscazu, which includes 32 retail units and outlets for Apple, Lego, Barbie and Starbucks.
Verdict: Costa Rica’s star is on the rise in retail terms and it may prove to be a (Costa Rican grown) banana skin for England.
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