Coop Norway Strengthens Market Share By 0.6%
Grocery retailer Coop Norway saw its market share increase by 0.6% during the third quarter of the year, according to data from Nielsen.
In particular, the group's Extra supermarket banner saw a 1.3% increase in market share. The Extra chain has had a strong performance in 2017, with sales increasing by 4.7% so far this year.
"The winning recipe is simple - low prices combined with a large selection based on what the customer wants," said Christian Hoel, chain director of Extra.
"We opened shop number 370 last week and strongly believe that the good development will continue."
Coop added that its other chains, including Coop Mega and Obs, have also seen above-average organic growth this year.
"This has been an amazing quarter thanks to all the wonderful employees in Coop," said Geir Inge Stokke, CEO of Coop Norway. "At the same time, we are respectful of the strong competition in the market."
In the third quarter of the year, the company increased its number of members to over 1.6 million, and it is looking to continue this growth trend.
"We are fully focused on further growth and facilitating the opening of even more stores in the future," added Stokke.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.