Correos to strengthen its commercial strategy with extended hours and flexible pricing
Spanish state postal services company Correos y Telegrafos is making big
changes to consolidate its leadership in the traditional postal services
sector and to gain market share in packaging, banking and e-commerce.
Amongst the measures adopted are the gradual extension of branch opening
times, an improvement in wage incentives and an increase in price
flexibility. The company expects to invest Pta160bn over the next three
years.
The post office will thus reduce its considerable dependency on the
traditional business, which currently provides 90 per cent of revenues
compared with a 76 per cent average in the EU. The company expects to
increase its turnover to Pta178bn through its alliance with German bank
Deutsche Bank AG and to begin making contact with big, medium and small
companies to distribute products via the internet. As far as prices are
concerned, Spain’s are the lowest of the fifteen euro zone members, 87 per
cent below the EU average.
Abstracted from Expansion in Spanish FT McCarthy – Copyright 2001 Financial
Times Information.
Source: World Reporter (Trade Mark).
EXPANSION, 14th March 2001
