Industry revenue of »retail sale in non-specialised stores with food« in Estonia 2011-2023

Over the past few years, the purchasing power of Estonian households has grown, owing to steady economic conditions, stable market prices and a strong wage growth. This has augured well for many sectors, including the food retail stores. Industry revenues are projected to grow from 2.4 billion U.S. dollars in 2011 to 3.3 billion U.S. dollars by 2023. Supermarkets are the most popular purchase point and account for nearly 40 percent of the overall retail sales in the country, as per the findings of nordeatrade.com. Coop, followed by Rimi and Maxima are some of the leading supermarket chains in the country.

However, online players are fast gaining ground, owing to their robust pricing strategies and pose a serious threat to retail chains in the medium to long term. The share of individuals purchasing online groceries has risen rapidly from just one percent in 2009 to 23 percent in 2019. This has prompted various big box retailers such as Coop and Rimi to adopt an omnichannel strategy.

Rimi witnesses rapid surge in sales amidst Covid-19 outbreak

Although majority of the sectors are going through a difficult phase owing to the outbreak of the corona virus, grocery stores seem to be thriving. Rimi, which has 86 stores in Estonia, has witnessed a ten percent rise in sales since the outbreak of the virus, as consumers are panic buying and stockpiling essential goods.

Industry revenue of »retail sale in non-specialised stores with food« in Estonia from 2011 to 2023

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Sources

Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Estonia. The industry “retail sale in non-specialised stores with food, beverages or tobacco predominating“ has the code “G4711“.

Details on the methodology can be found here.

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