Retail in 2024: The big picture
In 2024, retail in Finland registered stagnation in growth for the second consecutive year. The COVID-19 pandemic saw Finns staying home more than usual due to closures and restrictions on entertainment, cultural events, and consumer foodservice.
Domestic giants continue leading retail in Finland
The Finnish retail landscape is remarkably consolidated. An exceptionally high proportion—around eight out of ten—of all grocery retailing is controlled by just two companies: the cooperative S Group and the publicly listed Kesko Oyj.
Still room for growth in e-commerce
Predictably, e-commerce registered a significant boost during the COVID-19 pandemic. However, it remains unclear how the channel will develop post-pandemic.
What next for retail?
If the Finnish economy returns to growth from 2025 onwards, it will inevitably benefit retail. However, the landscape was gloomy at the end of the review period, and some actions by the sitting government aimed at improving employment in the longer term may have been counterproductive.
Delivery:
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Overview:
Understand the latest market trends and future growth opportunities for the Retail industry in Finland with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
- Convenience Stores
- Discounters
- Hypermarkets
- Supermarkets
- Traditional Grocery Retailers
- Apparel and Footwear Specialist Retailers
- Electronics and Appliance Specialist Retailers
- Health and Beauty Specialist Retailers
- Home and Garden Specialist Retailers
- Department Stores
- Variety Stores
- Warehouse Clubs
- Direct Selling
- Homeshopping
- Vending
If you're in the Retail industry in Finland, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Retail in Finland report includes:
- Analysis of key retail trends
- Detailed segmentation of offline and online retail sales
- Historic channel sizes (retail value sales, outlet counts, and selling space)
- Company and brand market shares (retail value sales and outlet counts)
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Retail in Finland?
- Which are the leading retailers in Retail in Finland?
- How are products distributed in Retail in Finland?
- How is the rise of e-commerce and the expansion of modern grocery retail impacting traditional retail?
- How significant are discounters and private label in Finland?
- To what extent are sales shifting towards digital channels?
- What is the long-term outlook for bricks-and-mortar?
- How is macroeconomic and political uncertainty affecting the retail industry?
- What types of retailers are seeing the fastest growth in digital sales?
- What is the future of retail?
Retail in Finland
Retail in 2024: The big picture
Domestic giants continue leading retail in Finland
Still room for growth in e-commerce
What next for retail?
Informal retail
Opening hours for physical retail
Seasonality
Christmas
Mother’s and Father’s Day
Back to school
DISCLAIMER
Convenience Retailers in Finland
KEY DATA FINDINGS
Convenience retailers underperform again in 2024
K-market continues to have the largest outlet network in Finnish retailing
Forecourt retailers perform worse than convenience stores
Convenience retailers expected to continue underperforming over the forecast period
Changes afoot in what and how convenience stores can sell amid taxation
Technological developments set to continue apace
Supermarkets in Finland
KEY DATA FINDINGS
Supermarkets trail hypermarkets as the second biggest retail channel in Finland
S-Market remains the largest retail chain in the country
K-Supermarket is the only competitor to S Group’s concepts
No major changes are expected among supermarkets and hypermarkets
Changes in taxation and distribution may affect performance
Demographic changes continue to have an impact on the channel
Hypermarkets in Finland
KEY DATA FINDINGS
Hypermarkets remains the leading retail channel in Finland
S Group and Kesko remain in the lead in 2024
Minor players enjoy local/regional significance
Hypermarkets expected to remain in the lead over the forecast period
Role of e-commerce in grocery retail is set to continue growing
Non-grocery sales will remain crucial for hypermarkets
Discounters in Finland
KEY DATA FINDINGS
Improved performance for discounters after a disappointing 2023
Lidl is still the only discounter in Finland
Lidl places more focus on vegan alternatives
Scope for growth in the channel in the coming years
No date yet available for the launch of Lidl’s e-commerce
Lidl and its competitors feel increasingly similar
Small Local Grocers in Finland
KEY DATA FINDINGS
Small local grocers remain a niche channel in Finnish grocery retailing
Few chained operators in the channel
Alanya Market opens the largest ethnic food specialist store in Finland in 2024
Marginalisation of small local grocers is expected to continue
Ethnic food specialists have significant potential for growth
Entrepreneur-run outlets are more popular than the channel itself
General Merchandise Stores in Finland
KEY DATA FINDINGS
Department stores performs weaker than variety stores in 2024
Variety stores take an even higher share of general merchandise stores’ sales
Tokmanni retains the category lead unthreatened
Stockmann’s future is the biggest question mark in department stores
Variety stores ser to show more dynamic growth
E-commerce poses a threat and an opportunity
Apparel and Footwear Specialists in Finland
KEY DATA FINDINGS
Another year of decline for apparel and footwear specialists in 2024
Fragmentation continues to characterise the category
Competition from the outside challenges channel sales
Sales expected to take a turn for the better over the forecast period
E-commerce will continue growing faster than the offline channel
Second-hand products will become increasingly acceptable
Appliances and Electronics Specialists in Finland
KEY DATA FINDINGS
Third year in a row of declining value sales for appliances and electronics specialists
Gigantti remains the leading chain in 2024
Appliances and electronics chains remain among biggest overall retail chains in Finland
Improved sales expected over the forecast period
Significance of e-commerce is set to increase further
Potential for increased sales of second-hand electronics
Home Products Specialists in Finland
KEY DATA FINDINGS
Less decline for home improvement and gardening stores than in 2023
Pet parenting in Finland is here to stay
K-Rauta remains the category leader in 2024
Home improvement and gardening stores expected to return to growth
Homewares and home furnishing stores also expected to enjoy higher sales
E-commerce and comfortable shopping ever more in focus
Health and Beauty Specialists in Finland
KEY DATA FINDINGS
Beauty specialists remains the smallest health and beauty offline channel
Normal the biggest success story in Finnish retail in the late review period
Big pharmacy companies lead the channel in 2024
Stagnation expected for beauty specialists in the coming years
Changes expected in pharmacy sales may affect the channel
Monthly and other services have a chance to expand in popularity
Vending in Finland
KEY DATA FINDINGS
Vending sales stagnate in 2024
Major soft drinks players remain in the lead
Narrow range on offer through vending machines
Moderate growth expected over the forecast period
Despite growth prospects, vending will remain a niche category
Legislation may have an impact on sales
Direct Selling in Finland
KEY DATA FINDINGS
Marginalisation of direct selling as a retail channel continues
Fragmented competitive landscape is led by Tupperware in 2024
Nosh changes its business model while Avon withdraws
Decline expected to continue across the forecast period
E-commerce will increasingly take over direct selling sales
Product categories and changes to benefits will further challenge the channel
Retail E-Commerce in Finland
KEY DATA FINDINGS
Growth for e-commerce in 2024 after poor performance in 2023
Verkkokauppa.com remains in the lead but faces stronger competition from domestic grocery giants
E-commerce from China grows amid criticism
Further growth expected for e-commerce in the years ahead
Faster deliveries will be in focus
Role of AI is expected to strengthen in the years ahead
The following categories and subcategories are included:
Retail
-
-
-
- Convenience Stores
- Forecourt Retailers
- Supermarkets
- Hypermarkets
- Discounters
- Warehouse Clubs
- Food/Drink/Tobacco Specialists
- Small Local Grocers
-
-
-
- Department Stores
- Variety Stores
- Apparel and Footwear Specialists
- Appliances and Electronics Specialists
-
- Home Improvement and Gardening Stores
- Homewares and Home Furnishing Stores
- Pet Shops and Superstores
-
- Beauty Specialists
- Pharmacies
- Optical Goods Stores
- Health and Personal Care Stores
-
- Bags and Luggage Specialists
- Jewellery and Watch Specialists
- Sports Goods Stores
- Traditional Toys and Games Stores
- Other Non-Grocery Retailers
-
-
- Fashion Vending
- Health and Beauty Vending
- Appliances and Electronics Vending
-
- Alcoholic Drinks Vending
- Hot Drinks Vending
- Soft Drinks Vending
- Tobacco Products Vending
- Foods Vending
- Home Products Vending
- Other Products Vending
-
-
- Apparel and Footwear Direct Selling
- Personal Accessories Direct Selling
- Eyewear Direct Selling
-
- Beauty and Personal Care Direct Selling
- Consumer Health Direct Selling
- Tissue and Hygiene Direct Selling
- Appliances and Electronics Direct Selling
- Drinks and Tobacco Direct Selling
- Foods Direct Selling
- Home Products Direct Selling
- Other Products Direct Selling
-
-
-
-
-
- Apparel and Footwear E-Commerce
- Personal Accessories E-Commerce
- Eyewear E-Commerce
-
- Beauty and Personal Care E-Commerce
- Consumer Health E-Commerce
- Tissue and Hygiene E-Commerce
-
- Consumer Appliances E-Commerce
- Consumer Electronics E-Commerce
- Toys and Games E-Commerce
- Drinks and Tobacco E-Commerce
- Foods E-Commerce
-
- Home Care E-Commerce
- Home and Garden E-Commerce
- Pet Care E-Commerce
- Other Products E-Commerce
-
-
-
- First-Party (1P) Marketplace E-Commerce
- Third-Party (3P) Marketplace E-Commerce
- Grocery E-Commerce
- General Merchandiser E-Commerce
- Apparel and Footwear Specialist E-Commerce
- Appliances and Electronics Specialist E-Commerce
- Home Products Specialist E-Commerce
- Health and Beauty Specialist E-Commerce
- Leisure and Personal Goods Specialist E-Commerce
- Other E-Commerce Retailers
-
-
Retail
Retail is the sale of new and used goods to consumers from a business for personal or household consumption from retail outlets, kiosks, market stalls, vending, direct selling and e-commerce. Retail is the aggregation of Retail Offline and Retail E-Commerce. Excludes specialist retailers of motor vehicles, motorcycles, vehicle parts. Also excludes fuel sales, foodservice sales, rental transactions, and wholesale sales (e.g. Cash and Carry). Sales value excluding or including VAT/Sales Tax. Retail also excludes the informal retail sector. Informal retailing is retail trade which is not declared to the tax authorities. Informal retailing encompasses (a) sales generated by unregistered and unlicensed retailers, i.e. retailers operating illegally, and (b) any proportion of sales generated by a registered and licensed retailer that is not declared to the tax authorities. Unregistered and unlicensed retailers operate predominantly (although not exclusively) as street hawkers or operate open market stalls, as these channels are harder for the authorities to monitor than permanent outlets. Activities in the illegal market, which is usually understood to refer to trade in illegal, counterfeit or stolen merchandise, are included within our definition of informal retailing. Activities in the “grey market”, which is usually understood to refer to trade in legal merchandise that is sold through unauthorized channels – for example cigarettes bought legally in another country, legally imported, but sold at lower prices than in authorized channels – will be included as informal retailing if no tax is paid on sale by the retailer. However if the retailer pays tax – for example on cigarettes bought legally in another country but sold at a lower price than standard – the sale is included within formal retail.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Retail research and analysis database.
NEW REPORT GUARANTEE
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!