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Retail

Finland's S Group Increases Market Share In 'Challenging' Year

By Steve Wynne-Jones
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Finland's S Group Increases Market Share In 'Challenging' Year

Finland's S Group increased its market share to 47.0% last year, a 0.9% increase, according to Nielsen data, despite what the company said was a 'challenging year'.

The group reported a 5.7% increase in sales during 2022, with its Prisma retail banner seeing the strongest growth, of 7.6%.

'Faster Than The Market'

"In 2022, S Group's grocery sales grew faster than the rest of the Finnish market on a month-by-month basis," commented Sampo Päällysaho, S Group's director of grocery sales .

"As the year progressed, the price of food rose to the center stage both in customers' everyday life and in public discussion. As the economic situation got tougher, we stuck to an affordable shopping basket."

The group expanded its omnichannel capabilities during the year, with more than 250 outlets now offering online ordering and click and collect stores. Elsewhere, a 'scan and go' service was implemented in 31 Prisma outlets last year, with a further 27 stores to receive the technology this year.

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Read More: S Group To Boost Renewable Energy Production With New Wind Farm

Prisma Expansion

Seven Prisma outlets were renovated in 2022, while three new Prismas were opened in Finland. In Estonia, three new Prismas were opened, and four underwent renovations.

"As the price of food increases, we notice that customers prefer large stores, and the Prisma chain has now been especially popular with customers," Päällysaho added.

The group's Sale banner underwent a store refurbishment process over the past year, which will continue into 2023.

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S Group currently has more than a thousand grocery stores in different parts of Finland, providing work for almost 20,000 personnel.

© 2023 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.

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