ASUTIL Report – Siñeriz Free Shop
Siñeriz Free Shop and the ‘art of leadership’
One of the long-time players in the Uruguay-Brazil border channel outlines its factors for success. By Dermot Davitt.
Siñeriz Free Shop occupies an important place in the Uruguay-Brazil border store channel. Located on the main street in Rivera, it is among the largest duty free stores in the region, and one of the longest in business, with an operation since 1987.
The company, like its peers, has seen good days and bad, mainly related to the rise and fall of regional economies and currency values. But it says that the past decade and more has been a time of growth.
The Rivera store presents multi-category shopping opportunities
“The last ten years have been more stable [than previously], since the infrastructure has been strengthened with good hotels and entertainment. At the same time the different players have matured in their pricing and assortment policies to remain competitive, despite the ups and downs of the market.”
Siñeriz’ own investment has played a key role. The company says that at the beginning its inventory was limited to beauty, liquor & tobacco, but as consumers demanded more variety, the retailer built out its assortments.
A key development came in 2010 with the opening of a 10,000sq m shopping arena. This also went beyond the traditional sales categories to include kids’ play areas, a supermarket, pharmacy and restaurants that attracted visitors not only for the shopping experience.
In 2016, alongside further facilities came an easing of border procedures to allow travellers a faster, more efficient crossing, allowing business to thrive further.
The store blends standard and premium ranges across key sectors such as wines & spirits
The next stage will involve a 1,600sq m expansion with further categories to be added and expanded.
The company says: “Post-pandemic sales are coming on very well, and on the rise. We have maintained leadership in this market for many years. That leadership is really an art, in which we mix creativity, risk and above all, knowing our clients well.”
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The Moodie Davitt eZine
Issue 324 | 6 June 2023
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