In June 2024, consumer confidence in Albania declined by 2.6 points, as reported by the Bank of Albania in July. Despite this drop, the Economic Sentiment Indicator (ESI) remains 10.1 percentage points above its historical average, suggesting a generally optimistic outlook.
The annual consumer price index (CPI) rate for June 2024 was recorded at 2.1%, a decrease from 4.5% the previous year. On a monthly basis, the CPI fell by 0.4% compared to May 2024. The annual growth in CPI was primarily driven by increases in the Food and non-alcoholic beverages category, contributing +0.72 percentage points, followed by Housing, water, electricity, and other fuels, which added +0.42 percentage points.
Additionally, INSTAT reported a 6.0% rise in retail trade volumes (excluding fuel sales) in the first quarter of 2024 compared to the same period in 2023. Specifically, the turnover volume for Food, beverages, and tobacco increased by 5.3%, while Non-food products saw a rise of 6.7%.
According to the Economist Intelligence Unit, Albania's economy grew by 3.4% in 2023, with projections for 2024 indicating continued growth supported by easing inflation and strong domestic demand, particularly in the services sector.
Here's an overview of the top five supermarket retail chains in Albania, according to their most recently-available full-year turnover. All data is supplied by Retail-Index (www.retail-index.com).
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1. Big Market
Turnover: €100 million (2021, estimated)
Big Market is the biggest supermarket in Albania with an estimated annual turnover of €100 million in 2021.
It had 180 stores in the country as of 2022 and it trades under the banners Big Market & Tirana Cash and Carry.
2. SPAR
Turnover: €75 million (2021)
SPAR recorded an annual turnover of €75 million in Albania in 2021. It had 66 stores in the country as of the same year.
The licence for SPAR in Albania was granted in mid-2016 to Almark, a private company owned by the Balfin Group. Almark/Balfin previously operated 17 Carrefour stores in Albania. Between October 2016 and at the year's end these stores were converted to the SPAR brand.
3. Conad
Turnover: €50 million (2020, estimated)
Conad recorded an estimated annual turnover of €100 million in Albania in 2020.
It had 27 outlets in Albania as of 2021.
4. Eco Market
Turnover: €14 million (2020, estimated)
Eco Market recorded an estimated annual turnover of €14 million in 2020. The retail chain had 19 outlets in Albania as of 2021.
Eco Food Market is part of AIBA Company, which was founded in 1993.
5. Extra Market
Turnover: €5 million (2020, estimated)
Extra Market ranks fifth on the list and had an estimated turnover of €5 million in 2020.
The retailer operated 10 stores in Albania as of 2021.
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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