Contents:

1. EXECUTIVE SYNTHESIS 1.1 Executive synthesis 1.2 Scenarios and prospects 1.3 Threats and opportunities 1.3.1. Threats 1.3.2. Opportunities 2. ENVIRONMENTAL CONTEXT 2.1. Business identification and segmentation 2.1.1 Introduction. Activity definition 2.1.2. Business outline 2.1.3. Business segmentation 2.2. Apparent consumption and activity development 2.2.1. Activity development in Argentina 2.2.2. Seasonality 2.2.3. Price development 2.2.4. Retail trade in the world and Mercosur 2.2.4.1. Globalization of retail trade 2.2.4.2. Merchandising in Latin America 2.2.4.3. Merchandising in Chile 2.2.4.4. Merchandising in Uruguay 2.2.4.5. Merchandising in México 2.3. Domestic demand 2.3.1. Demand typology and segmentation 2.3.1.1. The Argentine market 2.3.1.2. Demand and geographical distribution of the sector 2.3.1.3. Demand seasonality and average ticket 2.3.2. Life cycle 2.4. Competitive forces, barriers and key success factors 2.4.1. Intensity and mobility of competitive forces 2.4.1.1. Current competitors 2.4.1.2. Suppliers 2.4.1.3. Clients 2.4.1.4. Potential competitors 2.4.1.5. Substitute products 2.4.2. Sector barriers: Intensity and mobility 2.4.3. Key success factors: Definition and mobility 3. ANALYSIS OF THE COMPETENCE 3.1. Supply structure 3.1.1. Stores and facilities 3.1.2. Employment and Human Resources 3.1.3. Invoicing 3.1.4. Cost structure 3.1.5. Ownership of the capital 3.1.6. Investments 3.2. Competitive strategies and maneuvers 3.2.1. Strategic groups 3.2.2. Competitive strategies 3.2.3. Marketing and logistics 3.2.3.1. Own brands 3.2.3.2. Ownership programs 3.2.3.3. Sales by Internet 3.2.4. Field of action: Diversification and integration 3.2.5. Positioning of actors and impact of competitive forces 3.2.5.1. Positioning 3.2.5.2. Impact of competitive forces 3.2.6. Advertising investment 3.3. Competitive performance 3.3.1. Market shares 3.3.3.1. Turnover and market shares 3.3.3.2. Turnover per square meter 3.3.3.3. Turnover in $ per employee 3.3.2. Profitability, debt and financing 3.3.3. Final conclusions 4. ANNEX 4.1. Consulted sources 4.2. Main entities of the sector 4.3. Statistical annex 4.4. Methodological glossary

Companies Mentioned

555 AHORRO FACIL AIELLO SUPERMARKETS ALAS ALBERDI SA ALMACOR ANTONIAZZI HNOS. SA APA ATALAYA ATOMO AUCHAN AZUL BAHIA BECERRA BERACA BERTA BEST BOMBA BUEN GUSTO BUEN SUCESO BUENOS DIAS BURGOS CACERES CACHITO CALIFORNIA SUPERMARKETS CAMILETTI SA CARACOL CARAUNI CARREFOUR CASA RICARDO CAT CEM Y M. SA CENTRO MAX CLC COMISO COMODIN COOP. DE MACHAGAI COOP. OBRERA COOPERATIVA OBRERA CORDIEZ COTAGRO COTO CUNCIONAL LEON SA CYRE SA CHANGO DACUNA HNOS DAE DAMESCO DAR DELTA DELLA GASPERA DIA % DIOLI DISCO DON LEON DON PEDRO ECO EKI EL ARRIERO EL CHIVO EL ESTRIBO EL PAJARITO SA EL TURCO EXTRA SA FAX FELIPE ESCRIBANO E HIJOS SA FUNCIONAL LEON GABI AND GIRO HALDEMANN HITAL HORACIO ARENA SACA IBERIA IMPULSO INDEPENDENCIA JOSIMAR SA JUMBO KILBEL SRL KILGELMANN SRL LA AGRÍCOLA REGIONAL LA ANÓNIMA LA CUMBRE LA ESTRELLITA LA FRONTERA LA GALLEGA SUPERMARKETS LA GENOVESA SUPERM SA LA PROVEEDURÍA LA REINA LARCHER LEADER PRICE LIBERTAD LOS 2 PIBES LOS CHANGOS LOS HERMANOS LOS MELLIZOS LOS SUPER MALAMBO MARIANO MAX MASIVOS MAXICOM MI CHANGUITO MIGUEL BECERRA SA SUPERMARKETS 2006 MILAGRO MILAN MILENIO MINI SOL MODELO OLA RED OMAR PANCOR SA PARADA CANGA PINGÜINO PLAZA VEA PODECORO SRL POMÁN SUPERMARKET PRIMER PRECIO QUIJOTE REALES RICCIO RIO MAYO ROYMAR RUTA 17 SANTOS MARIANO SUPERMARKET SUDECOR SUPERMARKETS SUPER VEA SUPERIMPERIO SA SUPERMARKET EL TUNEL SA SUPERMARKET LA ECONOMIA SA SUPERMARKETS BIENESTAR SUPERMARKETS LAS DUNAS SA SUPERMARKETS LOS AMIGOS SA SUPERMARKETS NORTE SUPERQUICK SUPERVEA TARQUINO TODO TOLEDO TOMAS DE LEON SACIFA TOP TOPSY TORTONE TRES ESTRELLAS TRY TRY TUNUYAN UNICO UNION AGRÍCOLA UNISUR VA Y VIENE VICTOR WAL Martes LIBERTAD XTRA YAGUANÉ ZANETTI ZORZON RICARDO ALBERTO