En el presente documento se elabora el Planeamiento Estratégico de Hipermercados Tottus. El plan estratégico es el resultado análisis de los factores internos y externos de Hipermercados Tottus, con lo cual se pudo identificar las principales oportunidades, amenazas, fortalezas, y debilidades de Hipermercados Tottus y de la industriaretail. Del anterior análisis, se pudieron diseñar las estrategias a seguir tomando en cuenta tanto los objetivos de largo plazo como los objetivos de corto plazo, usando las matrices del proceso estratégico. Las estrategias establecidas guiarán a Hipermercados Tottus a alcanzar su visión de acuerdo a la misión establecida. Es preciso mencionar que la visión y misión establecidas en el presente documento también fueron mejorados con el fin de que tengan consistencia con la estructura de Hipermercados Tottus. En una industria muy competitiva y no fragmentada, las estrategias establecidas son de carácter agresivo. Estas planean penetrar en nuevo mercados, como también ganar participación de mercado, tanto en mercados nuevos como actuales. Es preciso mencionar, que la industria retailen el rubro donde participa Hipermercados Tottus es caracterizada por un uso intensivo de capital, instalaciones y locales de gran envergadura. Del mismo modo, es importante indicar que las estrategias también estuvieron diseñadas para mejorar la calidad de servicio y mejorar los procesos, algo que también la industria demanda en gran medida. / The purpose of this work is to propose a Strategic Plan for Hipermercados Tottus. This plan starts with the analysis of the external and internal forces that affect the performance of the retail industry and Hipermercados Tottus, in order to identify the strengths and opportunities to capitalize, and the threatens and weaknesses to minimize. Based on this previous analysis, a set of strategies have been designed using the matrixes of the Strategic Process regarding as long term as short term objectives.These strategies will set the path for allowing Hipermercados Tottus to be able to achieve its vision through its established mission. The current vision and mission of Hipermercados Tottus have been reformulated with consistency according to the strategy and structure of Hipermercados Tottus. The retail industry is very competitive and non-fragmented, thus, all kind of proposed strategies must be aggressive. These are oriented and focused in penetrating new markets and getting a high market share based on a continuous quality and process improvement, all of them featured by a high capital intense industry, where real statement is a great necessity, for enabling a sustained growth.

El presente trabajo tiene como objetivo principal la elaboración del plan estratégico de Tai Loy para el año 2022. Para tal fin, se utilizó el Modelo Secuencial del Proceso Estratégico. Se inició con la comprensión de la situación actual de la empresa y del entorno, para ello se recopiló información de fuentes públicas y de entrevistas con trabajadores de la empresa. La misión, visión, y valores fueron desarrollados como guías al horizonte deseado por la compañía. Durante la etapa de análisis externo, se obtuvieron seis oportunidades y siete amenazas. Asimismo, del análisis interno de la compañía se encontró siete fortalezas y seis debilidades. Los análisis han permitido conocer el entorno de Tai Loy y plantear estrategias: (a) penetración de mercado, (b) desarrollo de mercado, (c) desarrollo de producto, (d) aventura conjunta, (e) integración horizontal, y (f) integración vertical hacia atrás; estrategias que permitirán cumplir la visión de Tai Loy, a través de cinco Objetivos a Largo Plazo: (a) incrementará el margen neto al 3% al año 2022, (b) incrementar las ventas anuales a S/.1,200 millones al 2022, (c) tener el 8% de participación del mercado retail en Colombia, 10% de participación en Bolivia al año 2022, (d) al 2022, se incrementará al 9% el ratio de conversión de la plataforma web, y (e) reducir el índice de rotación en periodos de campaña a 120% al 2022. Consecuentemente, se han detallado Objetivos de Corto Plazo, los cuales permitirán realizar la revisión, actualización, evaluación, y control de los resultados. / The main objective of this work is to propose the Tai Loy’s Strategic Plan for the year 2022. For this purpose, the Sequential Model of the Strategic Process was used. It began with the understanding of the current situation of the company and the environment; for this, information was collected from public sources and interviews with company workers. The mission, vision, changes in the guidelines to the horizon desired by the company. During the external analysis stage, six opportunities and seven threats were obtained. Also, the internal analysis of the company was found with seven strengths and six weaknesses. The analyzes have allowed knowing the Tai Loy environment and proposing strategies: (a) market penetration, (b) market development, (c) product development, (d) joint venture, (e) horizontal integration, and (f) )) vertical integration backwards; strategies that allow fulfilling Tai Loy's vision, through five Long-Term Objectives: (a) increase the net margin to 3% by 2022, (b) increase annual sales to S / .1,200 million by 2022, (c) have an 8% share of the retail market in Colombia, and 10% share in Bolivia by 2022, (d) increase the proportion of people visiting the platform and buying to 2022, and (e) reduce the rotation index in campaign periods to 120% by 2022. Consequently, short-term objectives have been detailed, which allow the review, update, evaluation and control of the results.

En el Planeamiento Estratégico para la empresa Topy Top se ha planteado como visión que para el 2023 sea reconocida como la empresa peruana líder en la industria de confecciones de prendas de vestir y una referencia dentro de América Latina incrementando su presencia en América del Norte y Europa. La posición competitiva de la que goza la compañía y una perspectiva positiva en la demanda global de prendas de vestir ofrecen el panorama ideal para la implementación de este plan estratégico. Se han formulado seis objetivos de largo plazo todos enfocados al año 2023, los cuales se listan a continuación: (a) localizarse en el primer lugar en la industria de confecciones peruanas, (b) aumentar las ventas en 15% anual, (c) contar con una marca premium orientada al mercado europeo, (d) incrementar las exportaciones en 10% anual, (e) aumentar la producción a 5’000,000 de prendas mensuales, e (f) incrementar el retorno sobre la inversión de cinco a ocho por ciento. Estos objetivos de largo plazo, han sido divididos en 20 objetivos de corto plazo que conduzcan de forma progresiva hacia la consecuión de la misión. Estos objetivos serán permanente evaluados y monitoreados a través del Balance Scorecard mediante sus cuatros perspectivas: aprendizaje interno, proceso interno, clientes y financiero. Durante el análisis de la industria y de la compañía, se definieron 19 estrategias de las cuales 15 fueron retenidas en primer orden y las restantes quedaron como estrategias de contingencia. Topy Top identificará a sus mejores empleados para constituir un equipo multidisciplinario que lidere el cambio y conduzca a la compañía hacia el futuro deseado. / In the Strategic Planning for Topy Top has been proposed as a vision that by 2023 it will be recognized as the leading Peruvian company in the apparel industry and a reference within Latin America, increasing its presence in North America and Europe. The competitive position of the company and a positive outlook on the global demand for garments offers the ideal scenario for the implementation of this strategic plan. Six long-term objectives have been formulated, all focused on the year 2023, which are listed below: (a) lead the Peruvian apparel industry, (b) increasing sales by 15% per year, (c) counting with a premium brand oriented to the European market, (d) increasing exports by 10% per year, (e) increasing production to 5'000,000 pieces per month, and (f) increasing the return on investment from 5% to 8%. These long-term objectives have been divided into 20 short-term objectives that progressively lead to the achievement of the mission. These objectives are permanently evaluated and monitored through the Balance Scorecard for its four perspectives: internal learning, internal process, clients and financial. During the analysis of the industry and the company, 19 strategies were defined then 15 strategies have been retained and the remaining ones have been left as contingency strategies. Topy Top identified its best employees to form a multidisciplinary team that leads the company towards the desired future.

En el presente documento se elabora el Planeamiento Estratégico de la empresa Topitop. Esta empresa es una de las principales compañías del sector textil peruano que ocupa uno de primeros lugares del ranking exportador. Topitop cubre casi toda la cadena de producción textil, desde la fabricación del hilado pasando por sus diferentes etapas de producción hasta la venta retail de prendas de vestir. Luego de casi tres décadas de aprendizaje competitivo y mejora continua, Topitop es una empresa con gran experiencia de innovación en confecciones, que se refleja en una marcada preferencia del consumidor final del Perú y del exterior, prueba de ello son sus numerosos locales en el mercado local e internacional así como la preferencia por sus prendas por parte de marcas internacionales tales como Hugo Boss, Massimo Dutti, etc. Topitop cuenta con dos unidades de negocios claramente diferencias, la unidad de manufactura y la unidad de retail. Una de las grandes ventajas competitivas que tiene Topitop en el mercado peruano nace precisamente de esa alta integración vertical. Esto le permite reducir tiempos de producción y de respuesta a los clientes y consumidores de sus productos. Los grandes desafíos de Topitop son continuar siendo una empresa manufacturera competitiva a nivel internacional y ser capaz de competir con la competencia que proviene de Asia y otros países emergentes; y convertirse uno de los grandes retailers de prendas de vestir en el continente sudamericano / In this document we have developed the Strategic Plan for the company Topitop. This company is one of the leading companies in the Peruvian textile industry and it occupies one of the first places in the ranking of the Peruvian textile exporters. Topitop covers almost the entire textile production chain, from elaboration of the thread passing through the manufacturing of the fabrics and the garments to the final stage of selling them to final customer. After nearly three decades of competitive learning and continuous improvement, Topitop is a company with great experience in apparel innovation, reflected in a strong preference by the final consumer of Peru and abroad, proof of this is the number of stores locally and internationally and the preference for its products by brands such as Hugo Boss, Massimo Dutti, etc. Topitop has two business units clearly differences, the manufacturing unit and the retail unit. One of the major competitive advantages that Topitop possess in the Peruvian market arises precisely from its high vertical integration. This allows it to reduce lead times and responsiveness to customers and consumers of their products. In the future Topitop faces some big challenges. The first one is to remain competitive, both nationally and internationally in the manufacturing and retail textile industry. Right now Topitop is facing the growing competition of Asian and other developing countries textile companies. The second challenge is to leverage the brand recognition and market strength that Topitop retail has in Peru to other South American countries and consequently become one of the mayor players in the industry

SPSA participa dentro de la industria retail y en el subsector de supermercados en Perú. En este subsector hay tres principales competidores: Supermercados Peruanos, Cencosud y Tottus. SPSA ha logrado posicionarse como líder desde 2016. El presente documento desarrolla el Plan Estratégico para la empresa Supermercados Peruanos S.A. (SPSA) con la finalidad de mantener este liderazgo. Este plan se ha desarrollado con información pública, utilizando el método de modelo secuencial propuesto por D’Alessio (2015). En tal sentido, se ha planteado una visión con un horizonte de cinco años (2023). Se ha encontrado que SPSA gestiona de manera adecuada, y mejor que las empresas de este mercado, sus oportunidades, amenazas, fortalezas y debilidades. Sin embargo, aún debe mejorar esta gestión ya que, comparada con empresas líderes a nivel mundial, solo tiene un desempeño promedio aceptable mas no competitivo. En base a este análisis, se han establecido objetivos de largo plazo alineados a los intereses de SPSA. Estos objetivos se enfocan principalmente en mejorar la utilidad, incrementar las ventas online y tener mayor participación de mercado con las marcas propias. Las estrategias planteadas están alineadas a estos los objetivos de largo plazo, las cuales se centran en penetrar distintos mercados a través de la creación de nuevos formatos y más tiendas. / SPSA plays in the retail industry and in the subsector of supermarkets in Peru. There are three main competitors: Peruvian Supermarkets, Cencosud and Tottus. SPSA is the leader since 2016. The following document, the Strategic Plan for the company Supermercados Peruanos S.A. (SPSA), has been created to maintain SPSA’s leadership. This plan has been developed with public information, using the sequential model method proposed by D'Alessio (2015). In this sense, a vision has been proposed with a horizon of five years (2023). It has been found that SPSA manages its opportunities, threats, strengths and weaknesses adequately, and better than the companies in this market. However, the way that SPSA manage this situation must be improved since, compared to leading companies worldwide, it only has an average performance that is acceptable but not competitive. Based on this analysis, long-term objectives aligned with the interests of SPSA have been established. These objectives are mainly focused on improving profits, increasing online sales and having a greater market share with private label brands. The strategies proposed are aligned to these long-term objectives, which focus on penetrating different markets through the creation of new formats and stores.

Topitop es una empresa peruana que pertenece al sector manufacturero de prendas de vestir fundada hace más de 40 años, cuenta con dos plantas localizadas en San Juan de Lurigancho, con una fuerza laboral de más de 2,000 trabajadores. La empresa se dedica al corte, confección, estampado y acabado de prendas de vestir, destinando el 90% de su producción a la exportación a países como Estados Unidos, Alemania, Francia, Reino Unido y Brasil. Entre sus principales clientes se encuentran Life is Good, Travis Mathews, Hugo Boss y World Textile Sourcing. La empresa posee una estrategia de negocio enfocada en la diferenciación de producto. El objetivo del presente Business Consulting es crear valor a través de la mejor alternativa de solución, para ello, se realizó un profundo análisis de la situación de la empresa y su entorno empleando las herramientas PESTEL, cinco fuerzas de Porter, AMOFHIT y análisis DAFO CANVAS, además del Mapa de Cultura. Esto permitió al equipo consultor identificar como problema principal la falta de una estrategia de innovación en el portafolio de productos. Asimismo, haciendo uso del diagrama de Ishikawa, se identificaron las causas del problema principal, destacando la falta de alineamiento de la innovación con la cultura empresarial. Se plantearon las alternativas de solución, las cuales fueron evaluadas en un lienzo 6x6 y la matriz Factis. Profesionales de la empresa y del equipo consultor evaluaron y revisaron estas alternativas. Por ello, se concluye que la implementación de una cultura organizacional orientada a la innovación es la opción más viable para abordar el problema central. Para una adecuada implementación, se desarrolló un Gantt con las actividades. Finalmente, se estableció la correlación entre las variables relacionadas con la cultura de innovación y el aumento de ventas, por lo que se espera que los resultados impacten en indicadores como la captación de nuevos clientes o el ingreso al segmento premium de clientes actuales, lo que sustenta la solución en términos de retorno de inversión. / Topitop is a Peruvian company that belongs to the clothing manufacturing sector, founded more than 40 years ago. It has two plants located in San Juan de Lurigancho, with a workforce of more than 2,000 workers. The company is dedicated to cutting, making, printing and finishing clothing, with 90% of its production destined for export to countries such as the United States, Germany, France, the United Kingdom and Brazil. Among its main clients are Life is Good, Travis Mathews, Hugo Boss and World Textile Sourcing. The company has a business strategy focused on product differentiation. The objective of this Business Consulting is to create value through the best alternative solution, for this, a deep analysis of the situation of the company and its environment was carried out using the tools PESTEL, Porter's five forces, AMOFHIT and SWOT CANVAS analysis, Culture Map, which allowed the consulting team to identify the low level of integration of innovation processes in the garment manufacturing production chain as the main problem. Likewise, using the Ishikawa diagram, the causes of the main problem were identified, where the most important one is the lack of alignment of innovation with corporate culture. Solution alternatives are evaluated in a 6x6 canvas and a Factis matrix. Professionals from the company and the consulting team evaluated and reviewed the solution alternatives. Therefore, it is concluded that the implementation of a organizational culture oriented to innovation is the most viable option to address the central problem. For proper implementation, a Gantt was developed with the activities and budget for the solution. Finally, the correlation between the variables related to innovation culture and the increase in sales was established, so it is expected that the results will impact indicators such as attracting new customers or entering the premium segment of current customers, which supports the solution in terms of return on investment.

El presente plan financiero analiza cualitativa y cuantitativamente el contexto en que Supermercados Peruanos S.A. desarrolla sus actividades comerciales, con la finalidad de evaluar el desempeño de su gestión financiera y plantear propuestas de reestructuración que le permitan agregar valor. Para tal efecto se examinó la situación actual de la empresa, su importancia dentro el sector retail peruano y su participación en el subsector supermercados, además se compararon indicadores de sus principales competidores y se proyectaron resultados financieros basados en sus objetivos y metas planteadas, sin dejar de considerar la influencia sistemática del propio sector y el desempeño económico del Perú. La valorización de la empresa se realizó bajo la metodología del Flujo de Caja Libre Descontado para los siguientes 10 años (periodo entre los 2016 al 2025), según lo que se obtuvo un valor empresa de S/645.9 millones, al cual se restó la deuda financiera y se obtuvo un valor patrimonial negativo del orden de los S/17.1 millones, consecuencia de la fuerte inversión en bienes de capital para la apertura de nuevas tiendas, las cuales no generan los flujos suficientes debido al bajo nivel de ingresos por metro cuadrado de espacio disponible para venta. Adicionalmente se calculó el valor actual neto patrimonial según estructura de pagos propuesta estimado en S/331.7 millones. Las iniciativas de reestructuración planteadas para que la empresa incremente su valor fueron las siguientes: (a) reducir la inversión propia en infraestructura de tiendas, (b) implementar medidas relacionadas al incremento de la productividad y mejora de eficiencia operativa, y (c) mejorar la negociación de precios con los proveedores para reducir el costo de ventas; asimismo definir una nueva política de reparto de dividendos. Con estas propuestas se estimó un valor patrimonial para Supermercados Peruanos S.A. de S/4,322.5 millones / This financial plan analyzes in a qualitative and quantitative manner the context on which Supermercados Peruanos S.A. carries out its commercial activities in order to evaluate its financial management performance and provide restructuring proposals that may add value to it. Therefore, the current situation of the company, its importance in the Peruvian retail area and its participation in the supermarket subarea were evaluated, indexes from their main competitors were compared, financial results based on objectives and planned goals were projected considering the systematic influence of the area as well as the economic development of Peru. The company was valued for the next ten years (2016 to 2015 period) using the discounted cash flow methodology; a company value of S/645.9 million was obtained. Then, the financial debt was taken from the aforementioned amount and a negative equity of S/17.1 million was attained as consequence of the strong investment in capital assets to open new stores which do not generate sufficient flow due to the low income per square meter available for sale. The net value of the shareholders was also calculated at S/331.7 million. The proposals for restructuration provided for the company to increase its value are as follows: (a) reduce the company’s investment on store infrastructure, (b) implement measurements to increase productivity and improve operational efficiency and (c) improve price negotiation with suppliers to reduce sale expenses. Using these measurements, an equity value of S/4,322.5 million for Supermercados Peruanos S.A. was estimated

Scientific knowledge in geography, economic and commercial dynamics have changed not only the relationship between the land, architecture and landscape of the cities, but also influences the behavior of citizens looking for self-service for their survival. In recent decades, due to changes in economic and socio-cultural, and technological advancement, communication speed and the transport system, it became possible to observe a commercial and geo-economic shift away from city centers, especially the so-called cities averages for the districts. Uberaba, located in the Mesorregião do Triângulo Mineiro e alto Paranaíba, has a population, according to IBGE, more than 2955000 inhabitants with a gross national product of R$ 6,221 billion reais. In town, we can see that this migration has transformed the business dynamics of the urban territory with the creation of new shopping centers, from the inclusion of self-service large surfaces, especially in the retail supermarket sector and even wholesale. In this sense, this research aims to understand the dynamics of retail self-service retail food Uberaba (MG) and the expansion of trade in the city neighborhood stores. Results reveal that there has been a devolution of supermarkets for the neighborhoods of Uberaba, including national networks, transnational, regional and local. In addition, strategies were self-serving survival of the neighborhood in the city, as wide variety of product mix, advertising and direct interaction between management and consumers, as well as loyalty cards, combined with attractive price and good service, which has shown be effective in maintaining old customers and win new. / No conhecimento científico geográfico, a dinâmica econômico-comercial tem transformado não apenas a relação entre o território, a arquitetura e a paisagem das cidades, como ainda influencia no comportamento do cidadão que procura o autosserviço para sua sobrevivência. Em décadas recentes, em virtude de alterações econômicas e sócio-culturais, assim como o avanço tecnológico, a agilidade na comunicação e no sistema de transportes, tornou-se possível observar um deslocamento comercial e geoeconômico do centro das cidades, em especial das denominadas cidades médias, para os bairros. Uberaba, localizada na Mesorregião do Triângulo Mineiro e Alto Paranaíba, possui uma população, segundo o IBGE, de mais de 295.000 habitantes com um produto interno bruto de R$ 6,221 bilhões de reais. Na cidade, podemos observar que essa migração comercial tem transformado a dinâmica do território urbano com a criação de novos centros comerciais, a partir da inserção de grandes superfícies de autosserviço, sobretudo no setor supermercadista de varejo e até mesmo atacadista. Nesse sentido, esta pesquisa tem por objetivo compreender a dinâmica do comércio varejista de autosserviço do varejo alimentar de Uberaba (MG) e a expansão do comércio das lojas de vizinhança pela cidade. Resultados revelam que houve uma desconcentração dos supermercados para os bairros de Uberaba, incluindo as redes nacionais, transnacionais, regionais e locais. Além disso, foram introduzidas estratégias de sobrevivência do autosserviço de vizinhança na cidade, como grande variedade de mix de produtos, propaganda e a interação direta entre gerência e consumidores, além de cartões de fidelidade, aliado ao preços atrativo e bom atendimento, o que tem demonstrado ser eficaz na manutenção dos antigos consumidores e conquista de novos. / Mestre em Geografia

Submitted by Michel Bucci Peroni (peronimichel@gmail.com) on 2018-06-15T11:34:42Z No. of bitstreams: 1 Trabalho Aplicado_Michel Bucci Peroni_15_06.pdf: 5531820 bytes, checksum: 8ac0893b9df6f4ac5552a41b8dae5f4b (MD5) / Approved for entry into archive by Simone de Andrade Lopes Pires (simone.lopes@fgv.br) on 2018-06-15T17:16:20Z (GMT) No. of bitstreams: 1 Trabalho Aplicado_Michel Bucci Peroni_15_06.pdf: 5531820 bytes, checksum: 8ac0893b9df6f4ac5552a41b8dae5f4b (MD5) / Approved for entry into archive by Isabele Garcia (isabele.garcia@fgv.br) on 2018-06-15T20:44:01Z (GMT) No. of bitstreams: 1 Trabalho Aplicado_Michel Bucci Peroni_15_06.pdf: 5531820 bytes, checksum: 8ac0893b9df6f4ac5552a41b8dae5f4b (MD5) / Made available in DSpace on 2018-06-15T20:44:01Z (GMT). No. of bitstreams: 1 Trabalho Aplicado_Michel Bucci Peroni_15_06.pdf: 5531820 bytes, checksum: 8ac0893b9df6f4ac5552a41b8dae5f4b (MD5) Previous issue date: 2018 / O presente trabalho tem como objetivo avaliar os elementos-chave que contribuem para a viabilidade econômico-financeira e identificar as principais barreiras para implantação de um sistema de geração distribuída de energia solar fotovoltaica no setor comercial. Trata-se de um estudo de caso com triangulação de dados a partir de dois supermercados localizados no interior de Minas Gerais. Foram realizadas entrevistas com diferentes stakeholders com objetivo de ampliar a visão acerca das barreiras existentes no setor de energia solar fotovoltaica. Os resultados demonstram, a partir dos estudos de casos, que o investimento é viável e um dos fatores que mais contribui para a viabilidade econômico-financeira é o preço da tarifa de energia elétrica. Conclui-se que a geração de energia solar fotovoltaica tem se tornado cada vez mais competitiva, em parte pela redução nos custos dos módulos fotovoltaicos e pelo preço da tarifa de energia praticadas pelas concessionárias. Aliada ao grande potencial solar existente no Brasil e considerando que, para o setor varejista, a energia elétrica é a segunda maior despesa, subindo quase 40% desde 2014, além das expectativas de retomada do crescimento econômico do País, a geração distribuída de energia solar fotovoltaica é uma alternativa que pode contribuir para mitigar problemas ambientais, reduzindo a emissão dos gases de efeito estufa e também o impacto nas mudanças climáticas. / This study aims to evaluate the key elements that contribute to economic-financial viability and to identify the main barriers to implement a system of distributed generation of photovoltaic solar energy in the commercial sector. It is a case study with triangulation of data from two supermarkets located in the interior of Minas Gerais State, in Brazil. Interviews have been conducted with different stakeholders aiming to broaden the comprehension of the existing barriers in photovoltaic solar energy sector. Results from the case studies show that investment is viable and one of the factors that contributes most to the economic-financial viability is the price of electricity rate. The conclusion is that generation of photovoltaic solar energy has become increasingly competitive, partially due to reduction in costs of photovoltaic modules and price of energy rate charged by concessionaires. Combined with the great solar potential in Brazil and considering that, for the retail sector, electricity is the second largest expenditure, rising almost 40% since 2014, in addition to the expectations of a resumption of the country's economic growth, distributed generation of photovoltaic solar energy is an alternative that can contribute to mitigate environmental problems, reducing both emission of greenhouse gases and impact on climate change.

[pt] O varejo é um dos segmentos industriais que mais tem sofrido mudanças nos últimos anos, graças ao advento das tecnologias de informação e de telecomunicações que revolucionaram o mercado. Nos últimos 50 anos os supermercados brasileiros evoluíram de sua primeira loja até as lojas eletrônicas. Por um lado, estas aparecem para suas proprietárias como soluções baratas para expansão. Por outro, alguns segmentos de consumidores têm muita resistência a fazer suas compras pela Internet. Muitas pessoas, usuárias de computador e de Internet, preferem ir à loja em vez de fazer suas compras pela web. A proposta deste trabalho foi realizar uma pesquisa exploratória sobre as razões que levam consumidores a não utilizarem o meio eletrônico no momento de fazer suas compras de supermercado. O objetivo foi atingido em etapas. Inicialmente os atributos característicos das lojas de supermercado foram levantados através de pesquisa de observação. A etapa seguinte foi a realização de uma pesquisa qualitativa com grupos de discussão, com a finalidade de estudar a interação dos consumidores com os sites de supermercados através do método da análise do conteúdo. Por último, foi realizada uma pesquisa quantitativa com uma amostra de consumidores, a fim de levantar e testar as barreiras. A análise dos dados obtidos na pesquisa comprovou que existem barreiras para que consumidores com acesso a computador e Internet façam compras de supermercado on- line, as quais podem ser trabalhadas pelo varejista através de mudanças em seu mix de marketing. / [en] Retailing is an industrial segment which has changed much in the last few years because of the development of information and telecommunication technologies that brought up a revolution in the world. In the last 50 years, Brazilian supermarkets have evolved from the first brick- and-mortar store to ecommerce. On the one hand, electronic supermarkets seem like a cheap solution for the expansion of their companies. On the other, certain consumer segments have great resistance in doing their shopping on the Internet. Many people, regular computer and Internet-users, would rather go to the physical store than do their shopping in the website. The goal of this paper is to perform an exploratory research on the reasons why consumers do not use electronic media when they do their supermarket shopping. To achieve this goal we went through certain steps. First, the attributes of brick-and-mortar supermarkets were described by observatory research. The following step was a qualitative research with focus groups, with the objective of studying the interaction of consumers with supermarket websites done through discourse analysis. The last step was a quantitative research with a sample of consumers, to raise and test the barriers. The analysis of the data obtained showed the existence of barriers to online supermarket shopping for consumers with access to computers and the Internet. These barriers can be overcome by the retailer through a change in the marketing mix.