Sep 19, 2017 | By WGSN Insider
Big data meets consumer insights. Experience WGSN.
Oct 16, 2015
By WGSN Insider
Primark has opened an impressive new flagship store in Madrid – its second-biggest location in the world. The opening signals the value retailer’s confidence in its future in the Spanish market after 10 years of building up a network of around 40 stores there.
The building features a glass-domed patio lined with balconies, with laser screens promoting the products on offer throughout.
“Being on Gran Via and in such a large space is obviously a symbolic step for Primark. It’s the icing on the cake for the new king of low-cost clothing retailing in Spain,” said Carlos Hernandez, a Madrid-based retail consultant.
With Spain only just beginning to emerge from a recession, cheap mass-market retailers are becoming increasingly appealing to price-conscious shoppers.
“This is a good moment to expand again, particularly in the low-cost segment, as salaries are and will continue to be low in the years ahead and growth will come particularly from these low and low-to-mid retail segments,” said Hernandez.
STAY UP TO DATE: You want the need-to-know news, right? Our journalists deliver a daily curation of the most important industry happenings. Sound good? Join WGSN.
Know what’s next. Become a WGSN member today to benefit from our daily trend intelligence, retail analytics, consumer insights and bespoke consultancy services.