Pepco, Tedi, Action & Co. generate millions in sales in this country and are expanding because local consumers are eager to buy cheap trinkets. Due to rising prices, more and more people are becoming bargain hunters and trying to get their hands on everyday items cheaply.
Whether it’s a toothbrush, sweater, secateurs or candle set – the Austrians will quickly help you with discount offers. Pepco, Tedi, Action and other cheap chains, which generate millions in turnover and have replaced the previously popular one-euro stores in many places, benefit from this.
The sales model is the same everywhere. Rapidly changing ranges are sold extremely cheaply. With great success. While traditional retailers are currently fighting for survival or closing their doors, discount retailers are expanding and can look forward to long checkout lines, full shopping carts and ringing cash registers. “We see that the demand for discounts has increased,” reports Action Austria boss Boyko Tchakarov, who now operates more than 100 branches and continues to expand.
Due to rising prices, more and more people are becoming bargain hunters and trying to get their hands on everyday items cheaply. “But we already notice that many people have less money and are more cautious because of high inflation. This is especially visible towards the end of the month,” explains Sewa boss Frank Perlick. In the nine Sewa branches in the city centers, customers are soothed with meditative music in addition to affordable prices.
The Polish Pepco chain has opened 73 branches in Austria in the past two years and is constantly looking for new locations. Not only here, because the group is trying to become the market leader in the non-food sector in Europe. German competitor Tedi currently operates 187 branches between Lake Neusiedler and Lake Constance and wants to expand this number to approximately 200 stores by the end of 2024.
Flying Tiger from Scandinavia currently has 14 stores in Vienna, Lower and Upper Austria, Styria, Tyrol and Vorarlberg. “We still miss Salzburg and other locations in Vienna,” reports Flying Tiger boss Anna Eiselsberg, who is happy that turnover has increased again after Corona.
In addition to the usual knickknacks, Thomas Philips has a well-stocked garden department. “Our range is up to 70 percent cheaper than other Austrian retailers,” assures Thomas Phipps boss Martin Gaber. New openings are planned by the end of the year, including in the SCS. In addition to the seven locations, another four to five stores will be added next year.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
