Re-emerging Poor a Target for Some Retailers
Thursday, May 14, 2009
BELGRADE (Reuters) – As recession squeezes the fledgling middle classes of emerging economies, special shops for the poor are seizing the opportunities.
Slovenia and Serbia are among countries opening “SOS” shops that allow custom only from those officially registered as poor, who need special cards to access them.
“We see this effort as a new retail concept,” Trade Minister Slobodan Milosavljevic said at a ceremony in March to open the first SOS shop, a whitewashed old house with a bright red sign. “The gauntlet has been thrown to other retailers and we can already see somewhat cheaper food in other markets.”