17.02.2010

Finland’s hypermarkets are doing good business

Hypermarket sector has space for foreign competitors, according to the Finnish Grocery Trade Association.

Hypermarkets are continuing to enjoy good business in Finland, according to Osmo Laine, managing director of the Finnish Grocery Trade Association, whose members' make up about 95% of the Finnish retail market for groceries. Big new markets are still being constructed despite the recession and there has been no sign of the European trend where the role of hypermarkets is diminishing, as seen in France for example.

In Laine’s view, the Finnish retail chains would not be too concerned if a new foreign competitor entered the hypermarket sector. Suomen Lähikauppa is cutting back on its hypermarkets, however, with different alternatives being considered on a store by store basis, according to Sami Määttä, head of the Euromarket chain.

According to the latest statistics from the Finnish Grocery Trade Association, the value of sales in Finland’s hypermarkets increased by 1.9% in November 2009 compared to the same period a year earlier. A survey by Statistics Finland in January found that consumer confidence in the Finnish economy is continuing a strong positive trend.


Source: Kaleva