In June, Slovakia's inflation rate returned to a three-year low of 2.1%, offering some relief to consumers as the cost of food, non-alcoholic beverages, beer, wine, and fuel all declined on a month-on-month basis.
This notable easing in inflation marks a period of stability after several years of higher rates, with food prices in particular decreasing by an average of 0.2%. The Statistical Office of the Slovak Republic reported that meat, mineral waters, soft drinks, and vegetables were among the items that became more affordable in June compared to May.
The broader economic landscape in Slovakia reveals a stabilising trend, with consumer prices of goods and services holding steady from May to June, with month-on-month price growth slowing since the beginning of the year.
Year-on-year inflation has consistently hovered around 2% since March 2024, reflecting a gradual normalisation of price levels. While food prices saw a slight increase of 0.5% year-on-year, certain categories like oils and fats, bread and cereals, fish, and sugar and confectionery experienced price increases.
Retail data for May 2024 highlights a robust performance with retail turnover rising by 5.2% year-on-year. This growth was driven by a remarkable 24.1% increase in e-commerce sales and a 9% rise in turnover for specialised stores such as those selling footwear, textiles, drugstore items, and pharmaceuticals.
Hypermarkets and supermarkets also contributed to the positive trend with a 4.7% turnover increase, while specialised food, beverage, and tobacco stores reported double-digit growth.
A report earlier this year indicated that Slovak consumer confidence is now at its highest level for four years. However, the cost of living situation still weighs on the minds of consumers – a recent study by PwC found that price is by far the biggest consideration for consumers when making purchases, cited by 74% of shoppers, compared to a 63% average in the CEE region.
The Slovak retail sector is also set for a shakeup, as Portuguese supermarket group Jerónimo Martins, which operates the Biedronka chain, has outlined its intention to open its first stores in Slovakia towards the end of 2024.
Here's an overview of the top ten supermarket retail chains in Slovakia, according to their most recently-available full-year turnover. All data is supplied by Retail-Index.
***EXCLUSIVE OFFER*** Gain access to Retail-Index.com with a limited discount of 15% – use the code ESM15 in the remarks section on the Price & Order form.
1. Tesco
Turnover: €1.63 billion (2023)
Tesco, which has had a presence in Slovakia since 1996, operates an estimated 157 stores across the country, under formats such as Tesco Express, Tesco Superstore, Tesco Extra and others. It reported a turnover of €1.63 billion in 2023.
2. COOP Jednota
Turnover: €1.62 billion (2021)
COOP Jednota, which reported a turnover of €1.62 billion in 2021, operates 2003 stores across Slovakia as of 2022.
3. Lidl
Turnover: €1.51 billion (2021)
Discounter Lidl has been operating in Slovakia since 2004, and has quickly risen to become a prominent player, boasting 153 stores in the country as of 2022. Lidl reported a turnover of €1.51 billion in Slovakia as of 2021.
At the beginning of Lidl's operations in Slovakia, the company's central management for the Slovak market, together with its Czech office, was in Prague. In 2011, the Slovak division separated from its Czech peer and established its headquarters in Bratislava.
4. Kaufland
Turnover: €1.54 billion (2023)
Kaufland, which like Lidl is also owned by the Schwarz Group, operates 75 stores across Slovakia as of last year. Kaufland reported a turnover of €1.54 billion in 2023.
5. Billa
Turnover: €714 million (2021)
Part of Germany's REWE Group, Billa operates 155 stores across Slovakia as of 2022, having had a presence in the country since 1993. Billa reported a turnover of €714 million in 2021.
6. Metro C&C
Turnover: €495 million (2022)
Wholesaler Metro operates six stores in Slovakia. The cash-and-carry group reported a turnover of €495 million in 2022. It has been operating in Slovakia since 2010.
7. Labas
Turnover: €306 million (2021)
Labas is a Slovakian supermarket chain that operates 32 stores across the country as of 2022. Founded in 1992, the retailer reported a turnover of €306 million in 2021.
Labaš is the largest domestic food wholesaler in Slovakia.
8. Terno
Turnover: €189 million (2021)
With a turnover of €189 million in 2021, Terno is one of the longest-standing supermarket groups in Slovakia. It currently boasts 126 stores across the country as of 2022.
The history of the company dates back to 1978.
9. Nitrazdroj
Turnover: €55 million (2021)
Nitrazdroj is a Slovakian retail chain that operates 29 stores across the country as of 2022. It reported a turnover of €55 million in 2021.
The Slovak business network was established in 1994 and focuses on the distribution and sale of food in the wholesale and retail trade.
10. Róbert Gašparík
Turnover: €16 million (2021)
Specialist butcher Róbert Gašparík operates 26 stores across Slovakia as of 2022. The group reported a turnover of €16 million in 2021. Róbert Gašparík was established in 1995.
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.
Read More: Top 10 Supermarket Retail Chains In Germany
Read More: Top 10 Supermarket Retail Chains In Hungary
Read More: Top 10 Supermarket Retail Chains In Lithuania
Read More: Top 10 Supermarket Retail Chains In Poland
