Sales at European discount retailer Action jumped by 30% to €8.9 billion last year, buoyed by increasingly price-conscious shoppers grappling with high inflation and energy bills.
Action, which is owned by British private equity firm 3i, and operates in 10 countries, opened 280 new stores last year to take its total to 2,200.
"Customers are looking more at prices because their purchasing power is under pressure. So we're seeing more customers and more transactions, and they are coming to us more often," a company spokesperson said.
Action sells name-brand toothpastes, shampoos and detergents at reduced prices, along with cheap imported household goods.
Action Marks 30th Anniversary
This year, Action is marking the 30th anniversary of the opening of its first store, in Enkhuizen, the Netherlands.
Today, it boasts around 12 million customers in its stores across Europe, and another 8 million consumers via the Action.com website.
“The customer offer is at the heart of everything Action does," CEO Hajir Hajji commented earlier this month. "As a non-food discounter we must stick to our formula and never forget to put the customer first – making sure that they keep coming back. And they do.
"Action has the scale and the opportunity to offer our customers good quality, responsible products at the lowest price. As a leading discount retailer, we see it as our responsibility to continuously work on improving our products, our supply chain and our carbon footprint. With products are designed to last. That is what we continue to strive for.”
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