The inflation rate in Sweden was 4.4% in December 2023, down from 5.8% in November, according to Statistics Sweden.
On a monthly basis, the Consumer Price Index (CPI) increased by 0.7% from November to December. In the corresponding period a year ago, prices increased by 2.1%.
Food and non-alcoholic beverages prices have risen by 5.3% between December 2022 and December 2023.
European Commission data predicts that inflation is expected to fall appreciably in 2024, but to rise back to slightly above 2% in 2025.
In 2024, private consumption is projected to be held back by uncertainty about income as the labour market is set to cool and net wealth would remain under pressure from the housing market.
Elsewhere, a recent study found that Swedish consumers are increasingly ethically-minded when it comes to their purchasing decisions – expecting the firms they buy from to act sustainability.
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).
1. ICA
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.
Read more: Peter Muld Named CIO Of ICA Gruppen And ICA Sweden
2. Axfood
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.
Read more: Axfood’s Dagab Names Hans Bax As Next Managing Director
3. Coop
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.
Read More: Coop Sweden Announces Restructuring, Plans To Cut Jobs
4. Lidl
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.
5. Bergendahls
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.
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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© 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.
