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

Revenues from food retail in non-specialised stores in Slovakia are expected to only grow from 4.1 billion U.S. dollars in 2016 to 4.4 billion U.S. dollars by 2023. One of the main reasons for the tepid growth is the rising food prices in retail stores and growing popularity of online grocery retailing. In fact, over the past few years, the food price inflation rate in Slovakia has been one of the highest in the EU, owing to factors such as the rising prices of energy. In 2018, the in store prices for products such as pork meat and fruits is increased by seven percent, compared to an EU average of 0.7 percent, as per data from spectator.sme.sk. As of January 2020, food price inflation stood at 4.4 percent, a four percent year-over-year rise.

Consumers are now increasingly turning towards e-tailers due to their wide product varieties, lower price offerings as compared to their brick and mortar counterparts and free last mile delivery services. In 2019, 14 percent of individuals purchased groceries online, a significant growth compared to a decade back. This has prompted some of the leading brick and mortar retailers in the country such as Tesco, Lidl and Carrefour to adopt an omnichannel approach.

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