Discount food retail chains will increase their share of Sweden’s grocery market from 5% now to 10% by 2009 and rising to 20% by 2012, according to a report from the Department of Food and Science.
Go deeper with GlobalData
The report notes that Lidl and Netto will be the two biggest driving forces behind the change and together will account for 15% of the grocery market’s turnover by 2012. By that time, Lidl is expected to hold a share of 7% and Netto 8%, said the report.
“We plan to open 20 new stores in Southern Sweden in 2007 and 30 new stores a year after that,” said Netto’s CEO Carsten Hansen. The push follows Denmark-based Dansk Supermarked’s acquisition of a 45% holding in Netto in February when it bought shares held by ICA.
