A slowing economy is boosting Wal-Mart Stores Inc.'s bid to overtake Jewel and Dominick's in the $12-billion Chicago-area grocery market.Interesting. Perhaps Jewel and Dominick's have to find a way to get back some of their market share, eh?
Wal-Mart's share of the local market nearly doubled over the past year as its huge new stores lured penny-pinching consumers. The gains are coming at the expense of Chicago fixtures Jewel-Osco and Dominick's, both of which are losing marketshare.
The chain's new "supercenters," selling both food and general merchandise, offer grocery shoppers savings of 10% to 15% on average, experts say, and threaten to reshape a market dominated by the grocery kingpins for generations.
"Wal-Mart is coming at Chicago full-bore, and I expect they will ramp up development and move in closer to the city," says John Melaniphy of retail consulting firm Melaniphy & Associates in Chicago. "Of course this is bad news for Jewel and Dominick's."
Dispatches from Chicago's south side.
Sunday, November 2, 2008
Wal-Mart eats grocers' lunch
Crain's:
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