Spar Norway has announced that its market share in the country increased from 6.9% to 7.3% over the past five years.
It attributed this growth to excellent store operations and in-store promotions.
The retailer also claimed to be the only supermarket chain to increase its market share in Norway in 2019, citing a quarterly report by Nielsen.
Commenting on the company's performance, CEO of Spar Norway, Ole Christian Fjeldheim, said, "We are very pleased with the fact that we yet again are able to increase our market share. This would not have been possible without our accomplished independent retailers and all our employees."
Expansion Plans
The retailer plans to open approximately 6 new stores in Norway in a bid to further increase its market share.
Last year, Spar Norway opened 13 new stores in the country including the 3,000 square-metre Eurospar Strandveien in Tromsø.
Challenges
The retail sector in Norway is characterised by tough competition and high store density, Spar said in its statement.
In 2019, the country saw the launch of around 78 new soft discount stores.
Norwegian retailers also face competition from Swedish grocery markets with a large number of shoppers engaging in border trade, the retailer added.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.
