Swedish online grocery headed for a stronger 2024
Source: Dagligvaruindex
The diminishing inflation growth drives the grocery market growth to 5% in Sweden. That is the lowest growth level since May of 2022. There is no food inflation figure for November 2023 yet, but inflation growth has declined for eight consecutive months and will most probably continue.
For the online grocery market, it is relatively safe to say that the market has turned a new page after a long period of declining sales. Home delivery has driven the turnaround, which has grown for six out of the last seven months.
Despite solid declines in the first months 2023, the recent growth streak has turned the year into home delivery growth. The cumulative growth for home delivery is small but positive, with +0,1%.
The Click & Collect part of online grocery has also been growing quickly. It has grown for the last two months. The cumulative growth for the Click & Collect remains significantly below zero: -10,9%
The online share in the entire grocery market in Sweden remained at 4,4%, with a cumulative share for the year being 4,1%.
The outlook for online grocery starts to look more encouraging in Sweden. Competition between ICA, Axfood and Coop, as well as the renewed strength of Mathem after the merger with Oda, will push the players to invest more in the channel. This bodes well for the channel towards 2024.
