The Swedish inflation rate stood at 10.5 % in April 2023, compared with the same period the previous year, according to the Consumer Price Index (CPI) of Statistics Sweden.
The European Commission predicts Swedish core inflation to peak in 2023, and headline inflation to remain above the inflation target over the forecast horizon.
Private consumption in Sweden is projected to contract in 2023 as households’ budgets remain under pressure as a result of higher mortgage costs and price levels.
The Commission believes contained medium-term inflation expectations, the tightening of monetary conditions and improving productivity growth should allow for headline inflation to return to just below 2% in 2024.
Here's an overview of the top ten supermarket retail chains in Sweden, according to their most recently-available full-year turnover. All data is supplied by Retail-Index (www.retail-index.com).
Turnover: €9.09 billion (2021)
ICA is top of the list with an annual turnover of €9.09 billion recorded in 2021.
The retailer had 1,271 outlets in Sweden as of 2022, under the banners ICA Kvantum, ICA Nära, ICA Supermarket and Maxi ICA Stormarknad.
Turnover: €5.315 billion (2020)
Axfood is in second place with an annual turnover of €5.315 billion recorded in 2020.
The Swedish retailer had 587 outlets in the country as of 2022, trading under the banners Hemköp, Närlivs, Snabbgross, Tempo, Willys Hemma and Willys.
Turnover: €3.14 billion (2020)
Coop recorded an annual turnover of €3.14 billion as of 2020. It had 809 stores in Sweden as of 2022.
In February of this year, Coop Sweden announced plans to invest in a new goods terminal in Eskilstuna logistics park. The new goods terminal will be one of Europe's largest fully automated food terminals, according to Coop Sweden.
Turnover: €1.31 billion (2020)
Lidl had an annual turnover of €1.31 billion as of 2020.
The German discounter opened its first stores in Sweden in 2003 and had 205 outlets in the country as of 2022.
Turnover: €1.11 billion (2019)
Bergendahls had an annual turnover of €1.11 billion in 2019. The-family owned company had 122 outlets in Sweden as of 2022.
It operates the banners City Gross, Den Svenska, Matrebellen, Eko and Matöppet.
Other notable food retail players in Sweden include Reitan, which operates the 7-Eleven and Pressbyrån chains, operating a total of 393 outlets.
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.