Retail in 2024: The big picture
Retail in Sweden saw continued positive value growth in 2024. The Swedish economy is showing signs of improvement, with inflation levels dropping in 2024 compared to the highs of 2022 and 2023, leading to growth seen in real wages, and improvements in consumer spending confidence.
Retail e-commerce returns to stronger sales after its previous slump
Retail e-commerce sales returned to positive growth in 2024, after seeing a slump over 2022 and 2023 following the highs of 2020 and 2021 as inspired by the era of the pandemic. Indeed, retail online showed slightly stronger growth in 2024 compared to retail offline.
Polarisation between premium and budget options
There is an element of polarisation occurring in retail in Sweden. As the country’s economy improves, some consumers are once again seeking premium products, however, a segment of budget-conscious consumers remains, being those who seek cheaper brands and private label options.
What next for retail?
The Swedish economy is expected to continue its recovery in 2025 and over the forecast period, ultimately leading to increased consumer spending. E-commerce is expected to remain on a positive trajectory, with many players embracing omnichannel strategies in order to offer consumers a mix of physical and online retailing.
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Overview:
Understand the latest market trends and future growth opportunities for the Retail industry in Sweden 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 Sweden, 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 Sweden 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 Sweden?
- Which are the leading retailers in Retail in Sweden?
- How are products distributed in Retail in Sweden?
- 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 Sweden?
- 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 Sweden
Retail in 2024: The big picture
Retail e-commerce returns to stronger sales after its previous slump
Polarisation between premium and budget options
What next for retail?
Informal retail
Opening hours for physical retail
Seasonality
Christmas
Black Friday/Black Week
Summer sales
DISCLAIMER
Convenience Retailers in Sweden
KEY DATA FINDINGS
Convenience retailers benefit from on-the-go activities and stronger spending power
ICA Sverige maintains its lead, thanks to ongoing developments and strength of its franchise model
Leading forecourt retailers close outlets due to a decline in visitation
Increasing competition from convenience sections in other modern grocery channels expected
Health and wellness trends will inspire expanded and specific product selections
Convenience players will invest further in delivery options
Supermarkets in Sweden
KEY DATA FINDINGS
Supermarkets achieve healthy sales, despite competition from discounters
ICA Sverige maintains its company lead, with Axfood in close competition
ICA Sverige expands its Swegreen partnership to its supermarkets
Supermarkets and discounters will remain in competition
Supermarkets will enhance their private label ranges
Supermarkets will continue to enhance their e-commerce capabilities
Hypermarkets in Sweden
KEY DATA FINDINGS
Hypermarkets achieve small value growth in light of strong competition from discounters
ICA Sverige takes the leading place in outlet share, as well as maintaining its value lead
Sustainability drives initiatives such as Swegreen’s greenhouse-in-store concept
Hypermarkets will develop their own competitive advantages against discounters
Private labels set to become an increasingly important strategy for hypermarkets
Hypermarkets will enhance their e-commerce capabilities in order to remain competitive
Discounters in Sweden
KEY DATA FINDINGS
Discounters benefit from consumers’ ongoing price-sensitivity
Lidl maintains its lead and continues with its expansion plans
“Soft discounter” Willys poses competition to Lidl
Discounters set to remain popular, despite stronger consumer spending power
Private labels set to become increasingly important for discounters
E-commerce is yet to develop in the discounter space
Small Local Grocers in Sweden
KEY DATA FINDINGS
Small local grocers maintain positive sales due to convenience of proximity and customer relations
Hemglass ice cream truck company remains the most notable player in a highly fragmented category
Ethnic grocery stores appeal to both ethnic groups and Swedish nationals
Small local grocers will face challenges over the forecast period
An ongoing focus on sustainable and organic produce is expected
Lesser ability to embrace e-commerce and delivery options adds further challenges
General Merchandise Stores in Sweden
KEY DATA FINDINGS
General merchandise stores see a slump in sales, due to changing consumer priorities
Variety stores remains consolidated between its main players, with Dollarstore most active in its expansion plans
Dominance of Åhléns and NK presents a barrier to new entrants in department stores
General merchandise stores to face ongoing competition from e-commerce
Acquisitions and investments could help struggling variety stores
Prospects remain for further development in department stores
Apparel and Footwear Specialists in Sweden
KEY DATA FINDINGS
Apparel and footwear specialists struggle as consumers spend more on out-of-home activities
High street apparel and footwear shops struggle to recover from previous impacts
Pure online players remain a significant threat
Challenges will remain for apparel and footwear specialists
Social media could act as strategic channel to funnel sales via e-commerce
Omnichannel strategies and enhanced customer service become increasingly important
Appliances and Electronics Specialists in Sweden
KEY DATA FINDINGS
Appliances and electronics specialists continue to see declining sales
Elgiganten maintains lead thanks to strong reputation
Omnichannel strategies are especially important for appliances and electronics
Competition from online players will continue
Price comparison websites will push the online channel even further
High-tech products and sustainability trends are other key factors
Home Products Specialists in Sweden
KEY DATA FINDINGS
Home products specialists fall into a sales slump as consumers re-prioritise their spending
Ikea leads in value, while Jysk leads in outlets
Home improvement and gardening stores see positive value growth
Sales look set to rebound in line with an improving economy
Sustainability trends to remain of key importance
Pet shops and superstores maintains growth, while Arken Zoo consolidates its leadership
Health and Beauty Specialists in Sweden
KEY DATA FINDINGS
Health and beauty specialists maintain positive growth, thanks to the “feel good” factor
The three major brands maintain their top places, while smaller player Normal is tipped as one to watch
In-store pharmacies face competition from online players, while remaining important for consumer advice
Omnichannel strategies to become increasingly important
Optical goods stores will continue to attract consumers in-person, for practical reasons
Restrictions regarding skincare sales to minors
Vending in Sweden
KEY DATA FINDINGS
Vending maintains small positive growth thanks to consumer mobility
Vending continues to face competition from convenience offerings from grocery players
A rather old-fashioned image for vending, with no notable developments in modernisation
Small growth set to maintain, with competition from grocery players continuing
Healthier selections could help to improve sales
Modernisation of vending machines could revive the image of vending
Direct Selling in Sweden
KEY DATA FINDINGS
Direct selling remains in a slump, with declining interest in the category
Mary Kay and Herbalife Nutrition remain the most relevant brands
Consumer health remains a key component of direct selling
Growing need for direct sellers to embrace digital solutions
Health, beauty and personal care to remain the most profitable and viable area
Competition for new direct sellers set to intensify
Retail E-Commerce in Sweden
KEY DATA FINDINGS
Retail e-commerce rebounds from its previous small slumps, thanks to revived consumer spending confidence
A relatively fragmented category, while leading players carve out shares in their own product areas
Foods e-commerce fares well, with the leading grocery players offering online shopping options
Ongoing growth for a popular category, enhanced by competition and an improving economy
Apparel and footwear e-commerce set to remain a key category
M-commerce set to become increasingly important in the modern world
The following categories and subcategories are included:
Retail
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- Convenience Stores
- Forecourt Retailers
- Supermarkets
- Hypermarkets
- Discounters
- Warehouse Clubs
- Food/Drink/Tobacco Specialists
- Small Local Grocers
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- Department Stores
- Variety Stores
- Apparel and Footwear Specialists
- Appliances and Electronics Specialists
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- Home Improvement and Gardening Stores
- Homewares and Home Furnishing Stores
- Pet Shops and Superstores
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- Beauty Specialists
- Pharmacies
- Optical Goods Stores
- Health and Personal Care Stores
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- Bags and Luggage Specialists
- Jewellery and Watch Specialists
- Sports Goods Stores
- Traditional Toys and Games Stores
- Other Non-Grocery Retailers
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- Fashion Vending
- Health and Beauty Vending
- Appliances and Electronics Vending
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- Alcoholic Drinks Vending
- Hot Drinks Vending
- Soft Drinks Vending
- Tobacco Products Vending
- Foods Vending
- Home Products Vending
- Other Products Vending
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- Apparel and Footwear Direct Selling
- Personal Accessories Direct Selling
- Eyewear Direct Selling
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- 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
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- Apparel and Footwear E-Commerce
- Personal Accessories E-Commerce
- Eyewear E-Commerce
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- Beauty and Personal Care E-Commerce
- Consumer Health E-Commerce
- Tissue and Hygiene E-Commerce
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- Consumer Appliances E-Commerce
- Consumer Electronics E-Commerce
- Toys and Games E-Commerce
- Drinks and Tobacco E-Commerce
- Foods E-Commerce
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- Home Care E-Commerce
- Home and Garden E-Commerce
- Pet Care E-Commerce
- Other Products E-Commerce
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- 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
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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.
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