Dutch retail cooperative Coop Supermarkten has reported a record turnover of over €1.1 billion for 2016 – an increase of €35 million in revenue, or 5.4%, compared to 2015. The company has put the strong growth down to its increasing numbers of outlets and customers, as well as a higher average spend per customer.
During 2016 – the company's milestone 125th year – Coop opened nine new stores, sold four and closed one, bringing its current number of supermarket outlets to 258.
"Coop has outperformed the average market growth. Throughout 2016, we have invested greatly in our brand and our locations. A number of existing stores have been relocated or refurbished, resulting in a higher rating by customers regarding fresh produce and store layout.
"In addition to the opening of new stores and launching our successful 'stadsconcept' (city concept), we have rebooted our 'webshop' and developed an advertising campaign for TV to increase brand awareness and ensure a continued growth in 2017," a spokesperson for Coop said.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Martha Sparrius. To subscribe to ESM: The European Supermarket Magazine, click here.
