Retail Merchandiser - September/October 2012 - (Page 110)

Retail PRICESMART The Best-Laid Plans PriceSmart continues to offer its club members a unique shopping experience south of the United States, relying on a variety of high-quality, competitive products and a very effective distribution system. Frank Díaz San Diego he United States has exported many concepts to the rest of the world over the years: blue jeans, fast-food hamburger joints and now warehouse club stores. PriceSmart is a warehouse club based in San Diego but with no retail locations in the United States. This club concept has taken root in 13 countries in Central and South America and the Caribbean and is seeing consistent and steady growth. PriceSmart offers an array of products, from electronics and furniture to fresh produce and baked goods, all of which can be accessed through one annual payment of a membership fee. Members recuperate this fee through their savings on purchases. “The value proposition comes from the quality and the pricing, but also from the large sizes,” explains Frank Diaz, senior vice president of distribu- T tion and logistics. “Customers get a lot more for their money.” Unprecedented Growth PriceSmart has seen its business practically double in the last four years, according to Diaz. “We have been able to see some solid results in terms of sales and also getting solid returns on assets,” he explains. “As of July of this year, we had a 20 percent growth [in 2012]. We are very pleased.” The latest additions to the PriceSmart family are three Clubs in Colombia, the company’s first incursion in South America, with the last one expected to open in 2013. The company combines U.S. products and local ones. Although the items may come from different places, they all have one thing in common: quality. 110 September/October 2012

Table of Contents for the Digital Edition of Retail Merchandiser - September/October 2012

Retail Merchandiser - September/October 2012
Brand Licensing Europe
Showrooming Mushrooming
Pinch the Grinch
Category Insight
Upfront: BJ's Wholesale
Mind Candy
Outfit 7
Halfbrick Studios
Redasign Studio
Sony Pictures Consumer Products
Brentwood Licensing
Andrews McMeel Publishing
Chestnut Petroleum Distributors Inc.
The Hartley Co.
Mollie Stone’s Markets
Regal Oil
80Purple Cow Stores
Ocean State Job Lot
Staples Canada
Brookshire Grocery Co.
Wally’s Food Pride
Jewelry Television
Skin Science Labs Inc.
Great Clips
New & Noteable

Retail Merchandiser - September/October 2012