Austria
- Land area
- 83,871 km2
- Population
- 8.5 million
- Currency
- euro [EUR]
The Republic of Austria lies at the heart of Europe, bordering a total of eight other countries. Two-thirds of the country is covered by the Alps, of which the Großglockner is the highest mountain. Austria is one of the most prosperous countries in the European Union. Its industry is characterised by sophisticated mechanical engineering, numerous automotive suppliers and many specialised small and medium-sized enterprises. Other important economic sectors include mining, construction, tourism and agriculture.
In addition to diversity, intense competition is a characteristic factor of the Austrian retail landscape: taken together, the five top companies account for some 60 per cent of retail sales. Supermarkets are the most important format, dominating both urban centres and rural areas. However, discounters have been growing in popularity in recent years. METRO Cash & Carry is the undisputed market leader in the Austrian self-service wholesale trade.
Particularly in the supermarket segment, retailers aim to provide the freshness and high quality that consumers value most in the products they purchase. Food retail in Austria is also very much characterised by regional and local specialities.