Is WOW going to get "Smashed" on results?, page-121

Crazy, I think something along those lines is on-the-cards. In fact, my very preliminary inspection of some of the major european markets, indicates that something like that often plays out. It seems discounters come in, steel substantial (though not overwheling) market share, the incumbents respond (often with imrpoved or expanded private label brands), the incumbents get upset about their new reduced margins, the discounters get upset about their new static market shares, and everyone rides off into the sunset holding hands.

The exception seems to be Germany, where the discounters have a much larger share. Here though, the discounters have been established much longer (several decades). Also this may have more to do with German cultural attitudes, perhaps.