Uzbekistan grocery chain Makro marks 10-Year anniversary with 10 new stores
The largest supermarket chain in Uzbekistan, Makro, just got bigger. The company opened 10 new stores last Friday to celebrate the company’s 10-year anniversary.
The popular food retailer now includes 86 locations, with additional stores openings to come before year-end.
The ribbon-cutting at the new stores, scattered across the Uzbek capital of Tashkent, marks an important milestone for a company that exemplifies the rapid growth of Uzbekistan’s retail market in recent years.
“We are proud to be pioneering modern food retail in Uzbekistan, the largest nation in Central Asia,” said Makro Chief Executive Officer Roman Sayfulin. “Every day Makro opens its doors to customers who are enjoying a modern retail experience for the first time. Our mission is to create a supermarket for Uzbeks of all walks of life, and win their loyalty through a combination of variety, quality, and affordability.”
Sayfulin explained that consumer tastes are evolving and while the chain is expanding rapidly, particularly through the roll-out of new convenience store formats, the company can barely keep up with demand.
Makro’s store network now extends far beyond Tashkent and earlier this year the company launched its e-commerce platform, adapting to the new market reality brought on by the COVID-19 pandemic.
Uzbekistan, with a population of 34 million, is the most populous country in Central Asia and the third most populous country in the former Soviet Union. The Uzbek consumer market is growing rapidly, on the back of a growing population, rising incomes, and urbanization.
The World Bank forecasts that Uzbekistan will be only one of two countries in the entire Europe & Central Asia region to deliver positive GDP growth in 2020, with forecast growth of between 0.4% and 0.8%.
To thank customers for their loyalty, Makro on Friday offered a 10 percent discount on all purchases.
Children who share a birthday with Makro—December 11, 2010—were presented with a special backpack containing gifts and sweets.
Asked what the next 10 years may bring, Sayfulin quipped, “Our company is just 10 years old. It is not even a teenager yet. We still have a lot to learn, but like any ten year old, our potential is limitless.”
Photo: Makro
