Czech Republic

Dobrý Den! (Hello!)
NA SHLEDANOU! (Bye!)
Land area
78,866 km2
Population
10.5 million
Currency
Czech crown [CZK]

Covering an area of more than 78,000 square kilometres, this landlocked Central European country is about the size of the state of Bavaria in neighbouring Germany. Some ten million people live in the Czech Republic, one of the leading national economies in Central and Eastern Europe. The EU member state has a strong export industry primarily focused on the European market. Its major sectors include the traditionally strong manufacturing industry – in particular the automotive industry – as well as toolmaking and mechanical engineering. These sectors play an important role in the country’s economic growth. Following a temporary slowdown, private consumption has once again followed a positive trend since 2013. A striking characteristic is that the per capita consumption in the western regions is higher overall than in the eastern parts of the country. The Czech trade sector exhibits solid growth, with around half of its revenue attributable to food retailing. This segment is dominated by Western European companies that have been active in the Czech Republic since its political transformation, providing a wide range of modern retail formats.

Partnering with Vietnamese retailers

The first Vietnamese immigrants arrived in the Czech Republic 60 years ago. Today, the Vietnamese culture has made its mark on the country in many different ways. Restaurants and bars can be found in many places, as can small shops specialising in certain goods. For good reason, MAKRO Cash & Carry therefore decided to designate the nearly 80,000-strong Vietnamese community as a distinct target group. In 2010, the self-service wholesaler started an initiative in the Czech Republic with the goal of supporting the approximately 3,000 Vietnamese retailers operating in the country. In the meantime, this project has been placed under the care of a 20-person sales team composed exclusively of Vietnamese-speaking employees. Their language skills allow them quick insight into the needs of the target group. The specialists use this acquired knowledge to develop individualised offers for their customers and advise them in business issues. Special training opportunities convey additional business skills. This effort is paying off: today, the target group constitutes 30 per cent of the wholesaler’s entire Trader business. And since 2010, MAKRO Cash & Carry Czech Republic has its sales with Vietnamese retailers nearly doubled.

Travel tips

Restaurant tip

Lokál Dlouhá

Dlouha 33
11000 Prague

Google Maps

www.lokal-dlouha.ambi.cz

Restaurant tip

Café Imperial

Art Deco Imperial Hotel
Na Porici 15
11000 Prague

Google Maps

www.cafeimperial.cz

Hotel tip

Hotel Augustine Prague

Letenská 12/33
11800 Prague

Google Maps

www.theaugustine.com

This luxury hotel offers a fantastic view of Prague’s historical city centre. It comprises seven historical buildings, including the Augustinian monastery of St. Thomas from the 13th century.

This luxury hotel offers a fantastic view of Prague’s historical city centre. It comprises seven historical buildings, including the Augustinian monastery of St. Thomas from the 13th century.

Hotel tip

Lindner Hotel Prague Castle

Strahovska 128
11800 Prague

Google Maps

www.lindner.de

Etiquette

Czechs expect a firm handshake. A weak handshake and the avoidance of eye contact is considered impolite, and in business, even unreliable.

Facts & figures

MAKRO Cash & Carry Czech Republic

Market entry
1997
Head Office
Prague
Number of wholesale stores
13
Number of employees
3,440