Word: tesco
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...would think a reception that warm would force a company to consider relocating to more hospitable lands. But Tesco Lotus, Thailand's No. 1 retailer with 26 stores, plans to open more?a lot of them. So do other "hypermarkets," giant retailers from Europe and America that are taking over some of Asia's prime selling grounds. Despite threats by governments to ban them, not to mention rocket attacks, chains, including France's Carrefour and U.S.-based Wal-Mart, are ramping up plans to open hundreds of new outlets throughout the region over the next several years. The onslaught threatens...
...that have long served the region's consumers are no match for the modern, monolithic superstores. Boonyoong, the Bangkok grocer, can't beat superstore prices and selection and never will. Mom-and-pop operations have no economies of scale. "I was thinking my business might be in trouble when Tesco Lotus first opened," says Boonyoong. "Today I know...
...street, 42-year-old Bangkok accountant Suntorn Sukanand explains why, as he loads jumbo packs of instant noodles, fish sauce and Thai beer into his cart at Tesco Lotus. "I stop at the local shops only when I have forgotten to buy something in the superstore," he says. "It's clean, and it's cold." Says Bangkok housewife Sunee Veerachai: "I can get everything I need here in one trip on Saturday. Besides, the kids like this place...
...with local suppliers by demanding lower prices. Costco buys directly from manufacturers to stock its two stores in Japan?a practice that disrupts the country's entrenched but inefficient distribution networks, which have multiple layers of middlemen. Security expert John Muller, president of McFadden Protection Agency Thailand, theorizes that Tesco's Thai stores may have been attacked by Mafia-like cartels he says control the flow of goods in the country. (Thai police have made no arrests and the cases are unsolved.) Foreign superstores "upset the whole chain of distribution of commodities in Thailand," Muller says. Tesco Lotus officials declined...
...onslaught is causing backlash in protectionist-minded countries. In Malaysia, which hosts Carrefour among other hypermarkets and soon Tesco stores, the government last month announced a freeze on all applications to build new outlets. Thailand, too, is considering limiting where superstores can be located...