Finland's Kesko Strengthens Market Share In Grocery Trade
Finnish retailer Kesko saw its market share in the grocery trade increase by 0.4 percentage points to 36.9% in 2020, according to data from Grocery Store Register published by Nielsen.
The performance of its K-Citymarket chain was particularly strong, with a sales increasing by 12.2% and exceeding the average market growth.
Ari Akseli, vice president of grocery at Kesko, said, "Development in K-food stores continued to be excellent in 2020. The year was marked by a coronavirus pandemic, but we have clearly succeeded in providing safe, successful customer experiences as well as relevant selections.
"The strength of the development is partly emphasised by the fact that increasing market share is not based on increasing the number of stores, but on organic growth."
The number of Kesko stores declined by 25 in 2020, but the group was still able to increase its share in the market, the retailer noted.
According to data compiled by Nielsen, the value of e-commerce in Finland jumped to €395 million, compared to €110 million the previous year.
Akseli explained, "The exceptional year of growth in e-commerce was also reflected in our K, where online sales of groceries were approximately €210 million. So our position in e-commerce is strong, but it is not appropriate to stay put - the benchmarks come from around the world and we invest heavily in the development of digital services."
He added that "the biggest thank you" for the company's good growth last year in brick-and-mortar shops and the online channel goes to its customers.
This year, the company plans to continue to ensure the safety of customers and employees amid the ongoing coronavirus pandemic.
© 2021 European Supermarket Magazine – your source for the latest retail news. Article by Conor Farrelly. Click subscribe to sign up to ESM: The European Supermarket Magazine.