Inflation in Norway remained at a high level in early 2023, after remaining elevated for much of last year.
Statistics Norway data recently showed that the rise in prices in recent months, measured by the rise in the consumer price index adjusted for tax changes and excluding energy products (CPI-ATE), is the highest ever recorded for this measure of inflation since it was introduced in the early 2000s.
However, the agency believes the Norwegian economy may now be at a turning point. Its projections show that growth in economic activity will be lower, unemployment will increase slightly and inflation will abate through 2023.
The rise in prices for a number of intermediate goods and services has already come to a halt, and some prices have recently fallen. The inflation rate in Norway stood at 6.5% in March.
Here's an overview of the top ten supermarket retail chains in Norway, according to their most recently-available full-year turnover. All data is supplied by Retail-Index (www.retail-index.com).
Turnover: €10.5 billion (2022)
NorgesGruppen tops the list with an annual turnover of €10.5 billion recorded in 2022.
The group offers a combination of physical stores and online shopping, both from independent merchants and company-owned outlets throughout the country.
It currently operates 1,821 outlets in Norway under the banners Joker, Kiwi, Meny, Naerbutikken, Deli da Luca and Ultra.
Turnover: €5 billion (2021, estimated)
Reitangruppen is a Norwegian wholesaler and retailer and recorded an estimated €5 billion turnover in 2021.
It operated 1,306 outlets in Norway as of 2022 under the banners 7-Eleven, Narvesen, Rema 1000 and YX.
3. Coop Norge
Turnover: €5.53 billion (2021)
Coop is third on the list, and recorded an annual turnover of €5.53 billion in 2021.
It currently has approximately 1,200 outlets in Norway under the banners Coop byggmix, Coop Extra, Coop Market, Coop Mega, Coop Obs!, Coop Obs! Bygg, Coop Prix and Matkroken.
Turnover: € 1.7 billion (2021)
SPAR Norway reported an annual turnover of €1.7 billion in 2021 and currently operates 295 outlets across the country.
Bunnpris operated 244 stores in Norway as of 2022, with locations situated all the way from Rypefjord in the north to Søgne in the south.
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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© 2023 European Supermarket Magazine – your source for the latest retail news. Article by Robert McHugh. Click subscribe to sign up to ESM: European Supermarket Magazine.