In June 2024, Bulgaria's annual inflation rate increased to 2.5%, up from 2.3% in May, according to the National Statistical Institute (NSI). Despite this annual rise, June itself experienced a month-on-month decline of 0.2%, marking the third consecutive month of deflation.
Several sectors reported month-on-month price declines in June. The food and non-alcoholic beverages sector saw a decline of 0.5%, while Communications dropped by 1.5%, Clothing and footwear by 1.2%, and Transport by 0.9%. Conversely, prices rose in Restaurants and hotels by 2.2%, Miscellaneous goods and services by 0.4%, Recreation and culture by 0.3%, and Health by 0.2%.
Elsewhere, in May 2024, compared to May 2023, there was a 9.4% increase in turnover in the retail sales of food, beverages, and tobacco, and a 1.0% increase in retail sales of non-food products (excluding fuel).
In a separate study, the NSI also reported a 60% increase in prices of food and non-food items in Bulgaria from 2012 to 2023. For instance, the average price of a kilogram of white bread increased from BGN 1.29 in 2012 to BGN 2.44 in 2023.
During the same period, real total household income increased by 77.3% in 2023 compared to the base year 2012, and the index of real total expenditure increased by 75.1%. In 2023, compared to 2022, real income increased by 10.0%, real expenditure by 9.4%, and prices by 9.1%.
Last year, Bulgaria's government unveiled an initiative to enable shoppers to avail of lower prices on a variety of goods at major food chains, as part of the campaign 'Affordable for You' ('Достъпно за вас').
Here's an overview of the top ten supermarket retail chains in Bulgaria, according to their most recently-available full-year turnover. All data is supplied by Retail-Index.
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1. Kaufland & Lidl
Turnover: €1.84 billion (2022)
Kaufland & Lidl are the leading supermarket retail chains in Bulgaria, with a combined turnover of €1.84 billion (as of 2022). Kaufland currently has 63 stores in the country, while Lidl has 115, giving the combined entity a total of 178. Both are operated by Germany's Schwarz Group.
In April, Kaufland Bulgaria announced it is investing over BGN 1 million (€511,000) in installing new self-checkouts across its store estate.
Lidl Bulgaria is set to expand its retail network with the opening of eight to ten new stores in 2024.
2. Metro C&C
Turnover: €476 million (2022)
Wholesaler Metro C&C operates ten outlets in Bulgaria, as well as a franchise store network. In 2022, the cash-and-carry firm's turnover stood at €476 million.
Metro opened its first two stores in Bulgaria in 1999. It is the largest wholesaler in the country.
3. BILLA
Turnover: €451 million (2022)
BILLA is another popular supermarket retail chain in Bulgaria, with a turnover of €451 million as of 2022. The company operates under two banners: BILLA and Penny, with a current total of 141 stores in the country. BILLA is a subsidiary of Germany's REWE Group.
In May, BILLA Bulgaria announced it is allocating BGN 73.5 million (€37.6 million) toward new store openings and plans to renovate 11 existing outlets.
Read More: Billa, Kaufland, Lidl Focus On Sustainability In Bulgaria
4. T Market
Turnover: €202 million (2022)
T Market has had a presence in the Bulgarian market since 2005. In 2022, the company reported a turnover of €202 million. It currently has 116 stores across the country. It is a subsidiary of Maxima Grupé UAB, based in Lithuania.
It is one of the largest employers in Bulgaria.
5. Fantastico
Turnover: €135 million (2022)
Fantastico operates 45 stores in Bulgaria. It reported a turnover of €135 million in 2022.
The retail chain is a family-owned Bulgarian company founded in 1991 with the opening of its first supermarket in the city of Sofia. The retailer recently announced details of an €18-million investment to expand its logistics centre near Sofia.
6. Hit
Turnover: €23 million (2022)
Hit is a Bulgarian hypermarket chain that reported a turnover of €23 million in 2022. The group operates two stores in Bulgaria, in Mladost and Lyulin, both districts of Sofia.
7. Dar
Turnover: €21 million (2022)
Dar operates ten stores across Bulgaria, and reported a turnover of €21 million in its most recent financial year (2022).
8. 345
Turnover: €17 million (2022)
With a turnover of €17 million (as of 2022) and 16 stores, 345 is the eighth biggest player in the Bulgarian supermarket retail industry. The business is led by CEO Georgi Stefanov Trendafilov.
9. Kam Market
Turnover: €15 million (2022)
Kam Market is another relatively small supermarket chain in Bulgaria, with 24 outlets and a turnover of €15 million as of 2022. Tanya Kamcheva is the chief executive of the firm, which was founded in 2017.
10. Leksi
Turnover: €9 million (2022)
Leksi is a small chain of just four stores, located in the city of Plovdiv and the surrounding region. It boasted a turnover of €9 million in 2022.
Other notable retailers in Bulgaria include CBA, which boasts 127 stores, according to the data, and Balev Biomarkt, which boasts five stores. In addition, the country has a number of pure-play internet retailers that also sell food, including Ebag.bg, BGM.bg, Pingo.bg, Supermag.bg, Randi.bg and Superbagplovdiv.bg.
About Retail-Index
Retail-Index is a specialist supplier of management information on consumer retail markets, provided by Veraart Research Group in the Netherlands. Its mission is to supply managers with up-to-date key information on retail markets in Europe and support them in their international expansion.
The company dates back to 1964, when it started as a market research and marketing consulting company for consumer products and services. In 1989, it started publishing written reports on various retail sectors in Europe. As of 2005, it publishes its information on retailers through the online database and curated datasheet exports available on www.retail-index.com. A team of researchers manages the data to reflect upon current developments in the markets, collected from an extensive number of sources.
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