Finnish Grocery Sales Increase 0.9% In May
Finnish grocery retail sales were valued at €1.42 billion in May, which represents a 0.9% increase on the same month last year, according to Päivittäistavarakauppa - the Finnish Grocery Trade Association.
Prices for food and non-alcoholic beverages decreased by 1% compared to 2016, while alcoholic beverages and tobacco prices rose by 4.7%.
Grocery sales increased the most in hypermarkets and large supermarkets in May, up 3% year-on-year. Sales in small supermarkets also increased marginally by 0.4%, however, sales in supermarkets and small stores decreased by 4.9% and 6.2% respectively.
Overall, grocery sales have grown by 1% in the period from January to May 2017, with large supermarkets and hypermarkets experiencing the greatest increases at the expense of smaller retailers.
“Price competition for the grocery trade has continued to be very tough in the first half of the year,” said Kari Luoto, managing director of the Finnish Grocery Trade Association. “Its effects are reflected in the decline in sales of small stores.”
© 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.