Because several construction projects were stopped due to the pandemic, residential remodeling work became an important source of income for hardware stores competing in the Costa Rican market.
The spread of covid-19 forced the Costa Rican authorities to impose restrictions on productive activities, one of which was construction, a sector that paralyzed several investments being made in 2020.
The Novex chain of hardware stores opened its first branch in the country, which has an area of 3,000 square meters and is located in Curridabat, east of San José.
The new store that belongs to it is specifically located 250 meters east of the bomb La Galera, on the old road to Tres Rios, and has 20 departments that include construction materials, household items, pets, gardening, vehicles, painting, among others.
The potential business of these establishments can be assessed by estimating the number of people living in the surrounding area, their socio-demographic characteristics, their consumption capacity and the type of products they are interested in.
Measuring the potential of micro markets, based on the evaluation of a business environment and its comparison with similar sales points, is essential for designing appropriate commercial strategies or deciding where to open a new store.
Hardware store sales in Central America are projected to register a considerable drop, which would be mainly due to the expected decline in retail sales of paints.
The "Information System for the Impact Analysis of covid-19 on Business", prepared by the Trade Intelligence Unit of CentralAmericaData, measures the impact that the crisis will have on companies according to their sector or economic activity, considering different scenarios for the coming months.
It is estimated that about 25% of the commercial establishments that operate in the canton of Santa Ana correspond to companies in the service sector, which are mostly vehicle workshops, consulting and legal offices.
An analysis of commercial establishments in Costa Rica, prepared by the Trade Intelligence Unit of CentralAmericaData shows interesting results on the characteristics of companies operating in the canton of Santa Ana, province of San José, according to their location and type of activity.
In the aluminum business and its manufactures, it is estimated that Extrusiones de Aluminio, Conducen y Aluminios Nacionales, concentrate close to 25% of the market share.
Data from the report "Company's Corporate System", complied by the Business Intelligence Unit at CentralAmericaData, provides details on company information based on sector, main activity, imports, exports, contracts granted by the government and other data.
Imports of tools and ironmongery products reported last year in the country totaled about $500 million, and 21% of purchases were monopolized by four companies.
From the report “Ironmongery products market” in Central America complied by the Business Intelligence Unit at CentralAmericaData:
From September 20 to 22, entrepreneurs from the hardware sector from 11 countries will be meeting in Panama City to hold business conferences with the aim of forging alliances.
According to the organizers of "Expo F 2018", the event will involve traders from Argentina, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama and the Dominican Republic, who will try to create commercial alliances.
East of the Costa Rican capital, in Curridabat, plans are underway to build a mixed development consisting of an office and apartment tower, and a shopping center with 200 stores, cinemas, food courts plus 1,200 parking spaces.
The project, according to the Environmental Impact Study (EIA) submitted in February of this year to the Setena, also includes expansion and remodeling of the hardware store EPA.
In the region there are nearly 4,000 retail points of sale of hardware products, 45% of which are concentrated in Guatemala and Costa Rica.
Analysis by the Business Intelligence Unit at CentralAmericaData yields interesting results about hardware stores function and where they are located in Central American countries.
The total number of hardware stores registered with the Treasury increased from 3,913 in 2013 to almost 4,400 at the end of 2015.
In light of the arrival of international of hardware chain stores, companies founded on local capital are using the strategy of providing added value and better services in order to garner customer loyalty and keep their presence in an increasingly competitive market.Figures from the Ministry of Finance reported an 12% increase in the number of hardware store branches between 2013 and 2015.
The Commission to Promote Competition in Costa Rica has approved the purchase of 100% of the shares of the company Incesa by OC International Hondings.
Elfinancierocr.com publishes "The request made by OC International was presented on May 7 and once the required documentation had been submitted they proceeded to analyze the appropriateness of the transaction in the light of the provisions of the Competition Act."
While in the past 10 years 150 hardware stores closed down after the arrival of large players, the franchises Construrama and ConstruRed have expanded.
Both companies use a franchise model that seeks to connect manufacturers of hardware products and building materials with small and medium hardware stores to better compete with the larger scale of EPA and Grupo Progreso.
Main Benefits of using industrial fans:
- Lower the temperature of the Warehouse
- Temperature Energy-saving control
- Avoid Corrosion by maintaining the air circulation
With an estimated investment of $ 12 million this year, the Venezuelan chain opens its first store in El Salvador.
Located in the municipality of Soyapango (seven miles east of San Salvador), the hardware store will open next May, employing 190 people.
Ignacio Vieto, general manager of the chain in Costa Rica, also referred to the forthcoming opening of the fourth store of the chain in Costa Rica, located in Colima de Tibas. The opening is scheduled for May.
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