Finland's K Group Sees Market Share Increase To 36.1%
Finnish retailer K Group said that its market share rose by 30 basis points in full-year 2018, to 36.1%, according to Nielsen data.
The group said that its performance was boosted by its K-Supemarket banner, which posted the strongest sales growth of all supermarket chains, according to the Nielsen data.
Its K-Citymarket business also grew 'considerably' over the year, it added.
“Our strong transformation efforts boosted the growth in our market share in 2018," commented Ari Akseli, president of K Group’s grocery trade division.
"The key to everything is addressing local customer needs: we are able do this thanks to K-retailers, who know their area and their customers. We are constantly changing and improving store selections and services based on local needs and customer wishes."
According to the same Nielsen data, K Group's online sales grew by nearly 1.5 fold on the previous year, while the business has also made efforts to reshape its store network, such as with the acquisition of neighbourhood retailer Suomen Lähikauppa.
“All this good progress has, of course, been inspired by our customers, and we wish to thank them," Akseli added. "When looking back at 2018, we are especially pleased with the growth in customer numbers and customer satisfaction, which prove that we are focusing on the right things. We will continue our work to offer even better grocery stores."
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.