11.04.2011

Convenience stores could fill gap in Finland’s retail market

Jorma Tuukkonen, founder of the retail chain Siwa, believes that Finland’s retail sector is attractive to foreign companies.

The outlook for the retail trade in Finland is favourable to the growth of convenience stores, according to Jorma Tuukkanen, the founder of Siwa, a Finnish retail chain of convenience stores. He believes that Finnish consumers are ready for an efficient and low-price type of store because private car use is under pressure for environmental reasons and the general economic situation remains unstable.

According to Tuukkanen, Siwa and Alepa were pioneers of the convenience store model in Finland but have outgrown their original business concept. The gap in the market could be filled by a foreign company or a new Finnish player. Finland’s high price level and light competition can make it an attractive prospect for foreign retail companies. In Germany, convenience stores control almost half of the country’s grocery trade and also play a major role in other central European countries and the new EU member states.