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Retail

S Group Sees Grocery Store Sales Up 8.9% In FY 2023

By Dayeeta Das
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S Group Sees Grocery Store Sales Up 8.9% In FY 2023

Finnish retailer S Group has reported sales growth of 8.9% across its grocery stores in full-year 2023, compared to the previous year, driven by the good performance of its Prisma and S-market banners.

S Group's grocery store market share reached 48.3% in 2023, up 1.3% year on year, the retailer noted, citing Nielsen's store register data.

The retailer noted that its grocery sales grew faster than the rest of the Finnish market every month last year, the second year in a row that this has been the case.

It also witnessed growth in sales volumes and the number of customers visiting its stores.

'Affordable Shopping Basket'

Sampo Päällysaho, director of the S Group grocery business stated, "The price of food has remained a central issue both in customers' everyday life and in public discussion. We have systematically stuck to an affordable shopping basket.

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"In 2023, S Group was the first to reduce the price of food in all Xtra products already in March, and the price reductions were continued in September and January 2024. We are also developing our own brands, which are now interesting to customers, and we started the gradual launch of the Coop product series in our stores."

During the year, the retailer opened two new Prisma outlets, in Tampere and Vantaa.

The company continued to renovate the Sale chain, while S-market opened stores in new locations in Vantaa and Lappeenranta.

Online Services

S Group continued to invest in the development of stores and digital services across its grocery business.

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The company added that it consolidated its position as a market leader in the online food trade, with its S-kaupat.fi service registering a 15.8% increase in sales compared to the previous year.

The S-kaupat.fi service includes more than 300 delivery locations across Finland, and in up to 11 locations, grocery bags can also be ordered home with fast robot delivery.

This year, HOK-Elanto and Pirkanmaa Osuuskauppa will open automation-assisted food shopping collection centres.

The company expanded its collect-and-scan service in 2023 to 61 Prisma outlets.

S Group operates more than 1,000 grocery stores across Finland and 13 Prisma outlets in Estonia. Its grocery stores employ around 20,000 retail professionals.

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