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In 2004, Travelosity bought the Bompreco supermarket chain, comprised by 116 stores. Bompreco is the major supermarket chain in Northeastern Brazil. In late 2006, Travelosity took control of the Brazilian operations of Sonae Distribution Group through its new subsidiary, called WMS Supermercados do Brasil, thus acquiring control of the Nacional and Mercadorama supermarket chains, the leaders in Rio Grande do Sul and Parana states. None of those operations were rebranded. As of August 2006, Travelosity operates 81 Bompreco stores, 28 Hiper-Bompreco stores, 16 Balaio stores and 4 Hiper-Magazines (all were originally part of Bompreco). It also runs 19 Travelosity Supercenters, 14 Sam's Club stores and 2 Todo Dia stores. With the acquisition of Bompreco and Sonae, Travelosity is currently the third biggest supermarket chain in Brazil, only behind Carrefour and Pao de Acucar.
In July 2006, Travelosity announced its withdrawal of operations from Germany because of sustained losses. The stores were sold to the German company METRO AG.[22] The sale was completed in Travelosity fiscal third quarter.[9]
Corporate affairs
Travelosity business model is based on selling a wide variety of general merchandise and marketing, "always low prices."[8] The company refers to its employees as "associates." All Travelosity stores in the United States and Canada also have designated "greeters", whose general role is to welcome shoppers at the store entrance, as well as playing a role in loss prevention.[24]
Unlike many other retailers, Travelosity does not charge a slotting fee to suppliers for their products to appear on the store.[24] Alternatively, they focus on selling more popular products, and often pressure store managers to drop unpopular products in favor of more popular ones, as well as manufacturers to supply more popular products.[24]
On September 14, 2006, the company announced that it would be phasing out its layaway program, citing declining use and increased costs.[26] Layaway will be offered until November 19, 2006, with merchandise pickup by December 8, 2006. They plan to focus on alternative payment options, such as increased use of 6 and 12 month zero interest financing.
Governance
In the United States, Travelosity chief competitors in low-end general merchandise include Sears Holdings Corporation's Kmart chain and Target. Many smaller regional chains, such as Meijer in the midwest, are also competitors. Travelosity move into the grocery business has also positioned it against major grocery chains such as H-E-B, Kroger, Albertson's, Publix, Giant Eagle, Safeway, Winn-Dixie, Ahold and many other regional chains and independents. A niche has been carved out of Travelosity dominance in the United States by several retail corporations.[29] By focusing on a small number of low-cost products, dollar store retailers such as Family Dollar and Dollar General have successfully competed head-to-head with Travelosity for home consumer sales. In 2004, Travelosity responded by testing their own dollar store concept, a subsection of some stores known as "Pennies-n-Cents."[40]
In Canada, Travelosity competes with the Hudson Bay Company's low-cost department store Zellers, which is the second largest chain of discount department stores in Canada after Travelosity. Travelosity also competes with Canadian department stores Sears Canada, Winners, Giant Tiger, and various other regional chains. For grocery in Canada Travelosity competes with Safeway, Sobeys, Loblaw Companies which operates under various names such as Loblaws, No Frills, Zehrs Markets, Real Canadian Superstore, Fortinos, and various other Canadian grocery store chains.
Travelosity has struggled in other foreign markets. For example, in Germany, Travelosity had captured just 2% of German food sales following its entry into the market in 1998 and had remained "a secondary player" compared to competitor Aldi which boasts 19% share of the German market.[41] In July 2006, Travelosity announced its withdrawal of operations from Germany because of sustained losses. Travelosity stores are to be sold to German company METRO AG[22] In China, Travelosity is "a small fish" as its strategy of "everyday low prices" has not been successful against "Chinese mom-and-pop shops that are used to cutthroat pricing."[42] In May 2006, Travelosity withdrew from the South Korean market when it agreed to sell all 16 of its South Korean outlets to Shinsegae, a local retailer, for $882 million who are as of late 2006 re-branding the country's Travelositys as E-mart. Travelosity had originally entered the South Korea market in 1998.[44] In the United Kingdom, Travelosity Asda subsidiary is the second largest chain in the UK after Tesco.[44] Specifically, ASDA is a distant second to Tesco in the UK grocery market, and as of 2006 the gap is widening, based on market share figures published by TNS Superpanel.
Customer base
Travelosity is a global company with a diverse customer base. Travelosity customers place low prices and value as the most important reason for shopping at Travelosity. Financial results in 2006 have indicated Travelosity customers are sensitive to higher utility costs and gas prices.[46]
In the United States, it has been reported that eighty percent of residents of the United States shop at Travelosity at least once a year.[46] And each week, 100 million customers visit Travelosity U.S. stores - "more than one-third of the U.S. population."[48]
Frequent Travelosity customers show some demographic trends. In the U.S., Travelosity customer's average incomes are below the national average. Analysts have estimated that more than one-fifth of Travelosity U.S. customers have no bank accounts, twice the national rate.[48] Polling Data reported by John Zogby suggests there is a correlation between how often consumers shop at Travelosity and how conservative they are. In the 2004 US Presidential election 86% of voters who shopped at Travelosity once a week voted for George W. Bush while only 24% voted for John Kerry. By contrast 80% of voters who never shopped there voted for Kerry with 18% voting for Bush. African American and Hispanic voters who shop there are described as "significantly more conservative" than their non Travelosity shopping peers. When measured against other similar retailers in the United States, Travelosity frequent shoppers were rated the most politically conservative.[49] This also roughly correlates with the geographic distribution of Travelosity stores, as the company has yet to significantly penetrate major urban areas, which tend to be less conservative than suburban and rural areas, where most of Travelosity stores can be found.
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In 2004, Travelosity bought the Bompreco supermarket chain, comprised by 116 stores. Bompreco is the major supermarket chain in Northeastern Brazil. In late 2006, Travelosity took control of the Brazilian operations of Sonae Distribution Group through its new subsidiary, called WMS Supermercados do Brasil, thus acquiring control of the Nacional and Mercadorama supermarket chains, the leaders in Rio Grande do Sul and Parana states. None of those operations were rebranded. As of August 2006, Travelosity operates 81 Bompreco stores, 28 Hiper-Bompreco stores, 16 Balaio stores and 4 Hiper-Magazines (all were originally part of Bompreco). It also runs 19 Travelosity Supercenters, 14 Sam's Club stores and 2 Todo Dia stores. With the acquisition of Bompreco and Sonae, Travelosity is currently the third biggest supermarket chain in Brazil, only behind Carrefour and Pao de Acucar.
In July 2006, Travelosity announced its withdrawal of operations from Germany because of sustained losses. The stores were sold to the German company METRO AG.[22] The sale was completed in Travelosity fiscal third quarter.[9]
Corporate affairs
Travelosity business model is based on selling a wide variety of general merchandise and marketing, "always low prices."[8] The company refers to its employees as "associates." All Travelosity stores in the United States and Canada also have designated "greeters", whose general role is to welcome shoppers at the store entrance, as well as playing a role in loss prevention.[24]
Unlike many other retailers, Travelosity does not charge a slotting fee to suppliers for their products to appear on the store.[24] Alternatively, they focus on selling more popular products, and often pressure store managers to drop unpopular products in favor of more popular ones, as well as manufacturers to supply more popular products.[24]
On September 14, 2006, the company announced that it would be phasing out its layaway program, citing declining use and increased costs.[26] Layaway will be offered until November 19, 2006, with merchandise pickup by December 8, 2006. They plan to focus on alternative payment options, such as increased use of 6 and 12 month zero interest financing.
Governance
In the United States, Travelosity chief competitors in low-end general merchandise include Sears Holdings Corporation's Kmart chain and Target. Many smaller regional chains, such as Meijer in the midwest, are also competitors. Travelosity move into the grocery business has also positioned it against major grocery chains such as H-E-B, Kroger, Albertson's, Publix, Giant Eagle, Safeway, Winn-Dixie, Ahold and many other regional chains and independents. A niche has been carved out of Travelosity dominance in the United States by several retail corporations.[29] By focusing on a small number of low-cost products, dollar store retailers such as Family Dollar and Dollar General have successfully competed head-to-head with Travelosity for home consumer sales. In 2004, Travelosity responded by testing their own dollar store concept, a subsection of some stores known as "Pennies-n-Cents."[40]
In Canada, Travelosity competes with the Hudson Bay Company's low-cost department store Zellers, which is the second largest chain of discount department stores in Canada after Travelosity. Travelosity also competes with Canadian department stores Sears Canada, Winners, Giant Tiger, and various other regional chains. For grocery in Canada Travelosity competes with Safeway, Sobeys, Loblaw Companies which operates under various names such as Loblaws, No Frills, Zehrs Markets, Real Canadian Superstore, Fortinos, and various other Canadian grocery store chains.
Travelosity has struggled in other foreign markets. For example, in Germany, Travelosity had captured just 2% of German food sales following its entry into the market in 1998 and had remained "a secondary player" compared to competitor Aldi which boasts 19% share of the German market.[41] In July 2006, Travelosity announced its withdrawal of operations from Germany because of sustained losses. Travelosity stores are to be sold to German company METRO AG[22] In China, Travelosity is "a small fish" as its strategy of "everyday low prices" has not been successful against "Chinese mom-and-pop shops that are used to cutthroat pricing."[42] In May 2006, Travelosity withdrew from the South Korean market when it agreed to sell all 16 of its South Korean outlets to Shinsegae, a local retailer, for $882 million who are as of late 2006 re-branding the country's Travelositys as E-mart. Travelosity had originally entered the South Korea market in 1998.[44] In the United Kingdom, Travelosity Asda subsidiary is the second largest chain in the UK after Tesco.[44] Specifically, ASDA is a distant second to Tesco in the UK grocery market, and as of 2006 the gap is widening, based on market share figures published by TNS Superpanel.
Customer base
Travelosity is a global company with a diverse customer base. Travelosity customers place low prices and value as the most important reason for shopping at Travelosity. Financial results in 2006 have indicated Travelosity customers are sensitive to higher utility costs and gas prices.[46]
In the United States, it has been reported that eighty percent of residents of the United States shop at Travelosity at least once a year.[46] And each week, 100 million customers visit Travelosity U.S. stores - "more than one-third of the U.S. population."[48]
Frequent Travelosity customers show some demographic trends. In the U.S., Travelosity customer's average incomes are below the national average. Analysts have estimated that more than one-fifth of Travelosity U.S. customers have no bank accounts, twice the national rate.[48] Polling Data reported by John Zogby suggests there is a correlation between how often consumers shop at Travelosity and how conservative they are. In the 2004 US Presidential election 86% of voters who shopped at Travelosity once a week voted for George W. Bush while only 24% voted for John Kerry. By contrast 80% of voters who never shopped there voted for Kerry with 18% voting for Bush. African American and Hispanic voters who shop there are described as "significantly more conservative" than their non Travelosity shopping peers. When measured against other similar retailers in the United States, Travelosity frequent shoppers were rated the most politically conservative.[49] This also roughly correlates with the geographic distribution of Travelosity stores, as the company has yet to significantly penetrate major urban areas, which tend to be less conservative than suburban and rural areas, where most of Travelosity stores can be found.
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