Spanish supermarket chain Consum is confident of achieving a new record year in terms of sales and profits, driven by its growth strategy.
The company expects sales to reach €4.6 billion in its financial year 2024, surpassing the previous record of €4.4 billion.
Speaking at the congress held by the Spanish association of producers, manufacturers and distributors (AECOC), general manager Antonio Rodríguez expressed optimism about the company's performance, citing the slowing inflation rate as a positive factor for consumer spending. He also predicted a successful Christmas campaign.
In addition to sales growth, Consum anticipates a 5% increase in profits for 2024.
Consum recently acquired nine supermarkets from the Kuups chain, owner of the Economy Cash brand, strengthening its presence in the Valencian Community, Catalonia, and Murcia.
The transaction is awaiting approval from the National Commission of Markets and Competition (CNMC), expected for January 2025.
Network Expansion
While Rodríguez ruled out plans to expand into new territories for the moment, Consum is opening 15 own stores and 35 franchises in existing regions. The company is also considering entering the ready-made meals segment without counter service.
As purchasing power recovers, Consum anticipates a slowdown in the growth of white label brands. The company believes that the normalisation of inflation levels will lead to price reductions that consumers will notice.
At the end of 2024, the Valencian cooperative expects to have around 970 supermarkets in operation, both directly-owned and franchised.
In September, the cooperative rolled out 100% recycled plastic bags throughout its entire sales network. Part of this recycled material comes from Consum's own logistics packaging waste, which is recovered through reverse logistics and transformed into new bags.
