Italian grocery retailer Conad has reported a turnover of €21.1 billion in its financial year 2024, representing a 4.5% increase compared to the previous year.
Despite a challenging economic climate with inflation and stagnant consumer spending, this growth outpaced the overall large-scale distribution market. Conad's turnover has increased by 70% over the past decade, the company noted.
Conad maintained its market share at 15%, demonstrating strong performance across all sales channels and geographic regions.
Specialised stores PetStore Conad (+17.8%), the new urban format TuDay Conad (+5.8%), and Conad Superstore (+5.7%) all showed significant growth.
Conad's private label generated €6.3 billion in revenue, a 4.7% increase, representing 33.7% of total supermarket sales.
Investments in the private label focused on basic products, the enhancement of premium brands, and the relaunch of Piacersi Conad.
Annual Highlights
Conad launched a multi-year programme with over 700 private label suppliers to achieve ESG goals, including decarbonisation and customer well-being.
Conad also expanded its digital ecosystem, offering new services like travel, leisure, and insurance, with more to be rolled out in 2025.
Mauro Lusetti, president of Conad, commented, “Conad confirms itself as the largest company in Italian commerce, the only one present with a single brand in all regions of Italy, with all the main economic indicators growing compared to the 2023 financial year”.
Francesco Avanzini, general manager of Conad, added, “From now until 2030 we expect limited growth in the large-scale retail trade market, combined with strong pressure on margins, due to the reduction in purchasing power and the growth of discount.
“The competitive arena will remain crowded, with the growth of value and convenience specialists, channels in which Conad will have to increase its presence”.
Looking ahead, Conad anticipates limited growth in the retail market due to factors like reduced purchasing power and the rise of discounters.
The company will focus on strategic investments in digitalisation, sustainability, and new customer service offerings to navigate this competitive landscape.
