The European Commission's economic forecast for Slovenia, released in May 2024, indicated that the country's GDP expanded by 1.6% in 2023. The Commission expects this growth to accelerate to 2.3% in 2024 and 2.6% in 2025. Inflation is projected to decrease gradually over this period, while employment is anticipated to grow, with the unemployment rate remaining low.
Slovenia has experienced a significant increase in consumer prices, which grew by 10.4% year-on-year in June 2024, following an 8.1% rise in May. This represents the highest inflation rate since July 1996. On a month-on-month basis, consumer prices increased by 2.7% in June.
The largest contributors to annual inflation were higher prices for electricity, gas, and other fuels, which accounted for 2.1 percentage points of the increase. Price rises in petroleum products and food each contributed an additional 1.9 percentage points.
In June, Prime Minister Robert Golob attributed the recent inflation increase to measures taken by the previous government administration to keep inflation artificially low.
During the presentation of the OECD's new Economic Survey of Slovenia, Golob highlighted the country's economic resilience and noted the decline in inflation. The OECD recommends implementing structural measures to rebuild fiscal space and manage the costs associated with an ageing population.
"We live in turbulent times, with multiple external and internal crises emerging one after the other and populism dominating public discourse," Golob stated. "This is why the objective view that a respected institution like the OECD can provide is all the more necessary."
Slovenia's retail sales turnover declined by 1.0% on a monthly basis in both April and May 2024, according to the country's statistical office. On an annual basis, retail sales decreased by 0.5% in May, following a 0.3% decline in April.
Despite the overall decline, food sales were up 1.7% in May compared to the previous year, though they showed a slight month-on-month decline of 0.1%.
Here's an overview of the top ten supermarket retail chains in Slovenia, 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. Mercator
Turnover: €1.25 billion (2021)
Mercator is one of the largest companies in Slovenia and recorded an annual turnover of €1.25 billion in 2021.
Within the framework of the Fortenova Group, it operates in the entire region of Southeast Europe. Mercator has 737 outlets in Slovenia as of this year.
2. SPAR
Turnover: €866 million (2021)
SPAR is in second place and recorded an annual turnover of €866 million in 2021.
It has 112 outlets in Slovenia as of this year, and trade under the banners INTERSPAR, SPAR City, SPAR markt, SPAR and Tchibo.
3. Hofer
Turnover: €593 million (2021)
In Slovenia, discounter Aldi operates under the name Hofer, and the business recorded €593 million in sales in 2021.
It currently has 73 outlets in the country as of last year.
4. Lidl
Turnover: €489 million (2021)
Discounter Lidl has been present in Slovenia since 2007.
It recorded an annual turnover of €489 million in 2021 and has 65 stores in Slovenia as of last year.
5. EngroTUS
Turnover: €455 million (2021)
EngroTUS recorded an annual turnover of €455 million in 2021.
It currently has 143 outlets in Slovenia as of last year and trades under the banner TUS. It was taken over by larger peer Mercator in November 2023.
Other notable retailers in Slovenia include EuroSpin, which operates 55 outlets in the country as of 2023, Jager, with 43 outlets, and E.Leclerc, with two outlets.
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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