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

Revenues from food retail in non-specialised stores in Latvia are projected to grow from 2.5 billion U.S. dollars in 2011 to over 3.4 billion U.S. dollars by 2023, fuelled by the robust distribution processes, attractive pricing strategies, wide variety of products on offer and the growing number of retail grocery chains. The market is largely dominated by supermarkets, followed by hypermarkets and local stores. Maxima, followed by Top! and Rimi are a few of the leading supermarket chains in the country, with the latter having 130 stores and sales of over 785 million euros in 2019. Leading German discount store, Lidl, is also set to enter the market in 2020, with ten stores scheduled to open in the capital city of Riga.

Online food delivery gaining fast traction

Owing to their robust last mile free delivery services and deep discounting strategies, online food delivery apps and aggregators are gaining rapid popularity in the country. In fact, revenues in the online food delivery segment are projected to grow over three-fold between 2017-2024. Uber Eats followed by Wolt, and Deliveroo are some of the popular food delivery apps.

Industry revenue of »retail sale in non-specialised stores with food« in Latvia 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 Latvia. 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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