Coping with inflation and Covid-19 again in 2022

Last update – December 2021
Business environment risk
Political risk
Commercial risk
  • Resilience of household consumption for food and staples through the cycle

  • Boost to food and staples sales through the sanitary crisis

  • “Modern retail” still has a lot of room for expansion in Emerging Markets

  • E-commerce can be a growth catalyzer in Emerging Markets

  • Changing consumer habits are an opportunity

  • Expertise of established players on supply-chain issues
  • Strong price competition and overall limited room for differentiation for food retailers

  • Cut-throat competition between online and incumbent discretionary retailers

  • In the face of growing e-commerce penetration, adaptation to new business models proves very challenging for incumbent retailers

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Country   Role Sector risk
United States
#1 retail market
Medium risk
China #1 retail market
Medium risk
Japan #3 retail market
Sensitive risk
Aurelien Duthoit
Allianz Trade