Department stores is a well-developed channel in Chile, with a limited number of players that are well-known to local consumers due to their high number of outlets. Over the forecast period, major players Ripley, Falabella, and Cencosud Retail (Paris) have all expressed their intentions to dedicate greater time and investment into expanding, by opening new locations and continuing to remodel older outlets to align better with new consumer needs, in addition to adopting an omnichannel strategy and focusing more on experiences.
Over the forecast period, variety stores is expected to post one of the most dynamic performances within Chilean retail. While it will remain small in terms of overall value compared to other more important channels in the retail landscape, it has captured strong interest from consumers with its combination of affordable prices in independent stores, and attractive, nostalgic, and fashionable products offered by chained brand Miniso.
Even with the reactivation of department stores and the predicted further strong development of variety stores over the forecast period, both channels will continue to be greatly affected by the growth and development of e-commerce in Chile. Operators of physical department stores are being impacted by the cannibalisation of their own digital platforms, alongside the competition offered by the likes of MercadoLibre Marketplace, and the growth of cross-border players Shein, AliExpress Marketplace, and Temu, which are expected to make further gains over the forecast period.
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Understand the latest market trends and future growth opportunities for the General Merchandise Stores industry in Chile with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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General Merchandise Stores
The aggregation of department stores and variety stores.
See all of our definitionsThis report originates from Passport, our General Merchandise Stores research and analysis database.
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