Extra grows in a competitive grocery market

storeStore.Photo. Norway Today Media

Coop-owned supermarket chain, Extra, has sold goods for NOK 2 billion more by comparison to the same period last year, in a market where overall growth is falling.

 

Nettavisen newspaper reported that Coop – Extra, in 2016, had a turnover of almost 14 billion. That puts growth so far this year at 13% in a grocery market where organic market growth fell by 0.4%.

Deputy CEO, Christian Hoel, said that the chain plans to establish more stores in the immediate future.

Growth is following the ‘online newspaper experience’ at the expense of Rema 1000. The chain’s second major competitor,Kiwi, has the big Norgesgruppen backing it.

Market analysis agency, Nielsen, published figures for the grocery industry on Tuesday morning. Kiwi wouldn’t comment on developments until the figures from Nielsen are available.

Communications adviser, Ann-Kristin Pettersen, of Rema 1000, said it’s good that Extra is becoming stronger.

‘It is good that Coop strengthens its competitiveness, so that it’s better equipped to challenge the largest player in the market, Norgesgruppen. It’s crucial to improve competition, and ensure customers get low prices,’ she said.

 

 

Source: NRK / Norway Today

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