Retail in Finland - Research and Markets

Retail in Finland witnessed positive development in current value terms in 2023, although this was largely underpinned by retail price inflation. Grocery retailers saw a decline after a couple of years of solid growth, while non-grocery retailers performed better due to its continued recovery from the COVID-19 pandemic. Nevertheless, retail e-commerce registered the strongest increase in sales.

The Retail in Finland report offers insight into key trends and developments driving the industry. The report examines all retail channels to provide sector insight. Channels include hypermarkets, supermarkets, discounters, convenience stores, mixed retailers, health and beauty retailers, clothing and footwear retailers, furniture and furnishing stores, DIY and hardware stores, durable goods retailers, leisure and personal goods retailers. There are profiles of leading retailers, with analysis of their performance and the challenges they face. There is also analysis of non-store retailing: vending; homeshopping; internet retailing; direct selling, as available.

Product coverage: Retail E-Commerce, Retail Offline.

Data coverage: Market sizes (historic and forecasts), company shares, brand shares and distribution data.

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Get a detailed picture of the Retail market;
Pinpoint growth sectors and identify factors driving change;
Understand the competitive environment, the market’s major players and leading brands;
Use five-year forecasts to assess how the market is predicted to develop.

RETAIL IN FINLAND

EXECUTIVE SUMMARY

Retail in 2023: The big picture
Sustainability
Tokmanni gains value share in retailing landscape
What next for retail?

OPERATING ENVIRONMENT

Informal retail
Opening hours for physical retail
Summary 1 Standard Opening Hours by Channel Type 2023
Seasonality
Christmas
Mother’s and Father’s Day
Back to school

MARKET DATA

Table 1 Sales in Retail by Retail Offline vs Retail E-Commerce: Value 2018-2023
Table 2 Sales in Retail by Retail Offline vs Retail E-Commerce: % Value Growth 2018-2023
Table 3 Sales in Retail Offline by Channel: Value 2018-2023
Table 4 Sales in Retail Offline by Channel: % Value Growth 2018-2023
Table 5 Retail Offline Outlets by Channel: Units 2018-2023
Table 6 Retail Offline Outlets by Channel: % Unit Growth 2018-2023
Table 7 Sales in Retail E-Commerce by Product: Value 2018-2023
Table 8 Sales in Retail E-Commerce by Product: % Value Growth 2018-2023
Table 9 Grocery Retailers: Value Sales, Outlets and Selling Space 2018-2023
Table 10 Grocery Retailers: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 11 Sales in Grocery Retailers by Channel: Value 2018-2023
Table 12 Sales in Grocery Retailers by Channel: % Value Growth 2018-2023
Table 13 Grocery Retailers Outlets by Channel: Units 2018-2023
Table 14 Grocery Retailers Outlets by Channel: % Unit Growth 2018-2023
Table 15 Non-Grocery Retailers: Value Sales, Outlets and Selling Space 2018-2023
Table 16 Non-Grocery Retailers: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 17 Sales in Non-Grocery Retailers by Channel: Value 2018-2023
Table 18 Sales in Non-Grocery Retailers by Channel: % Value Growth 2018-2023
Table 19 Non-Grocery Retailers Outlets by Channel: Units 2018-2023
Table 20 Non-Grocery Retailers Outlets by Channel: % Unit Growth 2018-2023
Table 21 Retail GBO Company Shares: % Value 2019-2023
Table 22 Retail GBN Brand Shares: % Value 2020-2023
Table 23 Retail Offline GBO Company Shares: % Value 2019-2023
Table 24 Retail Offline GBN Brand Shares: % Value 2020-2023
Table 25 Retail Offline LBN Brand Shares: Outlets 2020-2023
Table 26 Retail E-Commerce GBO Company Shares: % Value 2019-2023
Table 27 Retail E-Commerce GBN Brand Shares: % Value 2020-2023
Table 28 Grocery Retailers GBO Company Shares: % Value 2019-2023
Table 29 Grocery Retailers GBN Brand Shares: % Value 2020-2023
Table 30 Grocery Retailers LBN Brand Shares: Outlets 2020-2023
Table 31 Non-Grocery Retailers GBO Company Shares: % Value 2019-2023
Table 32 Non-Grocery Retailers GBN Brand Shares: % Value 2020-2023
Table 33 Non-Grocery Retailers LBN Brand Shares: Outlets 2020-2023
Table 34 Forecast Sales in Retail by Retail Offline vs Retail E-Commerce: Value 2023-2028
Table 35 Forecast Sales in Retail by Retail Offline vs Retail E-Commerce: % Value Growth 2023-2028
Table 36 Forecast Sales in Retail Offline by Channel: Value 2023-2028
Table 37 Forecast Sales in Retail Offline by Channel: % Value Growth 2023-2028
Table 38 Forecast Retail Offline Outlets by Channel: Units 2023-2028
Table 39 Forecast Retail Offline Outlets by Channel: % Unit Growth 2023-2028
Table 40 Forecast Sales in Retail E-Commerce by Product: Value 2023-2028
Table 41 Forecast Sales in Retail E-Commerce by Product: % Value Growth 2023-2028
Table 42 Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 43 Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
Table 44 Forecast Sales in Grocery Retailers by Channel: Value 2023-2028
Table 45 Forecast Sales in Grocery Retailers by Channel: % Value Growth 2023-2028
Table 46 Forecast Grocery Retailers Outlets by Channel: Units 2023-2028
Table 47 Forecast Grocery Retailers Outlets by Channel: % Unit Growth 2023-2028
Table 48 Non-Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 49 Non-Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
Table 50 Forecast Sales in Non-Grocery Retailers by Channel: Value 2023-2028
Table 51 Forecast Sales in Non-Grocery Retailers by Channel: % Value Growth 2023-2028
Table 52 Forecast Non-Grocery Retailers Outlets by Channel: Units 2023-2028
Table 53 Forecast Non-Grocery Retailers Outlets by Channel: % Unit Growth 2023-2028

DISCLAIMER

SOURCES

Summary 2 Research Sources

CONVENIENCE RETAILERS IN FINLANDKEY DATA FINDINGS

2023 DEVELOPMENTS

Shift towards larger-sized formats continues in Finland
Convenience stores adapt store formats to attract shoppers
E-commerce from convenience stores - faster deliveries and new delivery methods

PROSPECTS AND OPPORTUNITIES

Convenience retailers face decline amid growing competition
Sustainability focus to gain importance
Delivering new ways of adding convenience is essential

CHANNEL DATA

Table 144 Convenience Retailers: Value Sales, Outlets and Selling Space 2018-2023
Table 145 Convenience Retailers: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 146 Sales in Convenience Retailers by Channel: Value 2018-2023
Table 147 Sales in Convenience Retailers by Channel: % Value Growth 2018-2023
Table 148 Convenience Retailers GBO Company Shares: % Value 2019-2023
Table 149 Convenience Retailers GBN Brand Shares: % Value 2020-2023
Table 150 Convenience Retailers LBN Brand Shares: Outlets 2020-2023
Table 151 Convenience Retailers Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 152 Convenience Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
Table 153 Forecast Sales in Convenience Retailers by Channel: Value 2023-2028
Table 154 Forecast Sales in Convenience Retailers by Channel: % Value Growth 2023-2028

DISCOUNTERS IN FINLANDKEY DATA FINDINGS

2023 DEVELOPMENTS

Weak economy works to the advantage of discounters
Lidl remains the only discounter in Finland, but sees share growth within grocery retailers
Lidl uses its loyalty app to attract consumers to its low prices

PROSPECTS AND OPPORTUNITIES

Store expansion expected from Lidl
Lidl lags behind in e-commerce
Tokmanni creates new Nordic discount retailer following acquisition of Dollarstore

CHANNEL DATA

Table 54 Discounters: Value Sales, Outlets and Selling Space 2018-2023
Table 55 Discounters: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 56 Discounters GBO Company Shares: % Value 2019-2023
Table 57 Discounters GBN Brand Shares: % Value 2020-2023
Table 58 Discounters LBN Brand Shares: Outlets 2020-2023
Table 59 Discounters Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 60 Discounters Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028

HYPERMARKETS IN FINLANDKEY DATA FINDINGS

2023 DEVELOPMENTS

Hypermarkets retain the lead in grocery retailing
Players expand with foodservice and fashion offerings
E-commerce proves a hit for hypermarkets

PROSPECTS AND OPPORTUNITIES

Hypermarkets and supermarkets starting to see the blurring of boundaries
Technological innovations to improve services and cut costs
Grocerant trend to expand as retailers shift further into foodservice

CHANNEL DATA

Table 61 Hypermarkets: Value Sales, Outlets and Selling Space 2018-2023
Table 62 Hypermarkets: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 63 Hypermarkets GBO Company Shares: % Value 2019-2023
Table 64 Hypermarkets GBN Brand Shares: % Value 2020-2023
Table 65 Hypermarkets LBN Brand Shares: Outlets 2020-2023
Table 66 Hypermarkets Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 67 Hypermarkets Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028

SUPERMARKETS IN FINLANDKEY DATA FINDINGS

2023 DEVELOPMENTS

Supermarkets sees weakest performance within grocery retailers in 2023
Consolidated competitive landscape, dominated by S Group
S Group moves from uniform stores to more tailor-made outlets

PROSPECTS AND OPPORTUNITIES

Like hypermarkets, supermarkets will continue to benefit from the preference for larger outlets
Supermarkets adapt to and create trends in society
Grocery sales move online during the pandemic, but the future is uncertain

CHANNEL DATA

Table 68 Supermarkets: Value Sales, Outlets and Selling Space 2018-2023
Table 69 Supermarkets: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 70 Supermarkets GBO Company Shares: % Value 2019-2023
Table 71 Supermarkets GBN Brand Shares: % Value 2020-2023
Table 72 Supermarkets LBN Brand Shares: Outlets 2020-2023
Table 73 Supermarkets Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 74 Supermarkets Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028

SMALL LOCAL GROCERS IN FINLANDKEY DATA FINDINGS

2023 DEVELOPMENTS

Small local grocers witness retail price inflation
Entrepreneurial model more present in grocery retailers than it seems on the surface
Chained concepts are rare, but still exist

PROSPECTS AND OPPORTUNITIES

Small local grocers to become even more marginalised
Competition from e-commerce likely to strengthen
Small local shops to evolve into cooperative spaces

CHANNEL DATA

Table 155 Small Local Grocers: Value Sales, Outlets and Selling Space 2018-2023
Table 156 Small Local Grocers: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 157 Small Local Grocers GBO Company Shares: % Value 2019-2023
Table 158 Small Local Grocers GBN Brand Shares: % Value 2020-2023
Table 159 Small Local Grocers LBN Brand Shares: Outlets 2020-2023
Table 160 Small Local Grocers Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 161 Small Local Grocers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028

APPAREL AND FOOTWEAR SPECIALISTS IN FINLANDKEY DATA FINDINGS

2023 DEVELOPMENTS

Apparel and footwear value sales move closer to pre-pandemic levels
Fragmented but Scandinavian-dominated competitive landscape
Supermarket and hypermarket apparel/footwear sales on the rise

PROSPECTS AND OPPORTUNITIES

Second-hand trend and investment in repairs expected as circular economy grows
Grocery retailers to push further into apparel and footwear retailing
Further challenges as e-commerce returns to growth

CHANNEL DATA

Table 75 Apparel and Footwear Specialists: Value Sales, Outlets and Selling Space 2018-2023
Table 76 Apparel and Footwear Specialists: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 77 Apparel and Footwear Specialists GBO Company Shares: % Value 2019-2023
Table 78 Apparel and Footwear Specialists GBN Brand Shares: % Value 2020-2023
Table 79 Apparel and Footwear Specialists LBN Brand Shares: Outlets 2020-2023
Table 80 Apparel and Footwear Specialists Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 81 Apparel and Footwear Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028

APPLIANCES AND ELECTRONICS SPECIALISTS IN FINLANDKEY DATA FINDINGS

2023 DEVELOPMENTS

Economic downturn hinders sales performance of appliances and electronics specialists
Energy efficiency and savings is high on the consumer agenda
Convenience appliances are increasingly relevant

PROSPECTS AND OPPORTUNITIES

Little opportunity for immediate growth, but better performance later in the forecast period
Service and repaired goods will gain traction
Boundary between online and offline to blur further

CHANNEL DATA

Table 82 Appliances and Electronics Specialists: Value Sales, Outlets and Selling Space 2018-2023
Table 83 Appliances and Electronics Specialists: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 84 Appliances and Electronics Specialists GBO Company Shares: % Value 2019-2023
Table 85 Appliances and Electronics Specialists GBN Brand Shares: % Value 2020-2023
Table 86 Appliances and Electronics Specialists LBN Brand Shares: Outlets 2020-2023
Table 87 Appliances and Electronics Specialists Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 88 Appliances and Electronics Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028

HEALTH AND BEAUTY SPECIALISTS IN FINLANDKEY DATA FINDINGS

2023 DEVELOPMENTS

Pharmacies dominate and see moderate growth
Health and wellness trends accelerate post-pandemic
Normal consolidates lead in health and personal care stores

PROSPECTS AND OPPORTUNITIES

Ageing population, necessity and aesthetics set to drive growth in optical goods stores
Marketing chains remain popular in health and beauty specialists in Finland
E-commerce expected to grow, but remain below its potential

CHANNEL DATA

Table 89 Health and Beauty Specialists: Value Sales, Outlets and Selling Space 2018-2023
Table 90 Health and Beauty Specialists: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 91 Sales in Health and Beauty Specialists by Channel: Value 2018-2023
Table 92 Sales in Health and Beauty Specialists by Channel: % Value Growth 2018-2023
Table 93 Health and Beauty Specialists GBO Company Shares: % Value 2019-2023
Table 94 Health and Beauty Specialists GBN Brand Shares: % Value 2020-2023
Table 95 Health and Beauty Specialists LBN Brand Shares: Outlets 2020-2023
Table 96 Health and Beauty Specialists Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 97 Health and Beauty Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
Table 98 Forecast Sales in Health and Beauty Specialists by Channel: Value 2023-2028
Table 99 Forecast Sales in Health and Beauty Specialists by Channel: % Value Growth 2023-2028

HOME PRODUCTS SPECIALISTS IN FINLANDKEY DATA FINDINGS

2023 DEVELOPMENTS

Home products specialists remains the biggest non-grocery channel in Finland
Weaker demand for homewares and home furnishings
Pet shops and superstores register strong performance

PROSPECTS AND OPPORTUNITIES

Challenging period ahead for home products specialists
Falling outlet numbers overall, but developments still expected
Tightening of restrictions on marketing products with huge discounts

CHANNEL DATA

Table 100 Home Products Specialists: Value Sales, Outlets and Selling Space 2018-2023
Table 101 Home Products Specialists: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 102 Sales in Home Products Specialists by Channel: Value 2018-2023
Table 103 Sales in Home Products Specialists by Channel: % Value Growth 2018-2023
Table 104 Home Products Specialists GBO Company Shares: % Value 2019-2023
Table 105 Home Products Specialists GBN Brand Shares: % Value 2020-2023
Table 106 Home Products Specialists LBN Brand Shares: Outlets 2020-2023
Table 107 Home Products Specialists Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 108 Home Products Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
Table 109 Forecast Sales in Home Products Specialists by Channel: Value 2023-2028
Table 110 Forecast Sales in Home Products Specialists by Channel: % Value Growth 2023-2028

GENERAL MERCHANDISE STORES IN FINLANDKEY DATA FINDINGS

2023 DEVELOPMENTS

General merchandise stores witness robust performance
Department stores face ongoing issues
Tokmanni remains the leader and continues to expand

PROSPECTS AND OPPORTUNITIES

Variety stores face promising outlook
Department stores face ongoing identity crisis
Players in general merchandise stores expected to focus more on e-commerce

CHANNEL DATA

Table 111 General Merchandise Stores: Value Sales, Outlets and Selling Space 2018-2023
Table 112 General Merchandise Stores: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 113 Sales in General Merchandise Stores by Channel: Value 2018-2023
Table 114 Sales in General Merchandise Stores by Channel: % Value Growth 2018-2023
Table 115 General Merchandise Stores GBO Company Shares: % Value 2019-2023
Table 116 General Merchandise Stores GBN Brand Shares: % Value 2020-2023
Table 117 General Merchandise Stores LBN Brand Shares: Outlets 2020-2023
Table 118 General Merchandise Stores Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 119 General Merchandise Stores Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
Table 120 Forecast Sales in General Merchandise Stores by Channel: Value 2023-2028
Table 121 Forecast Sales in General Merchandise Stores by Channel: % Value Growth 2023-2028

DIRECT SELLING IN FINLANDKEY DATA FINDINGS

2023 DEVELOPMENTS

Direct selling remains a declining retail channel
Fragmented competitive landscape
Health and beauty and home products popular within direct selling

PROSPECTS AND OPPORTUNITIES

Continued fall in sales, and the significance of direct selling set to decrease further
Boundaries between traditional direct selling and e-commerce become hazy
Marketing via social media and events to support channel

CHANNEL DATA

Table 122 Direct Selling by Product: Value 2018-2023
Table 123 Direct Selling by Product: % Value Growth 2018-2023
Table 124 Direct Selling GBO Company Shares: % Value 2019-2023
Table 125 Direct Selling GBN Brand Shares: % Value 2020-2023
Table 126 Direct Selling Forecasts by Product: Value 2023-2028
Table 127 Direct Selling Forecasts by Product: % Value Growth 2023-2028

VENDING IN FINLANDKEY DATA FINDINGS

2023 DEVELOPMENTS

Vending sales surpass pandemic levels
Technological enhancements boost vending channel
Inflation reduces consumers’ propensity to purchase

PROSPECTS AND OPPORTUNITIES

Growth potential in rural areas
A period of uncertainty ahead for vending
No dramatic changes expected in the split of products or competitive landscape

CHANNEL DATA

Table 128 Vending by Product: Value 2018-2023
Table 129 Vending by Product: % Value Growth 2018-2023
Table 130 Vending GBO Company Shares: % Value 2019-2023
Table 131 Vending GBN Brand Shares: % Value 2020-2023
Table 132 Vending Forecasts by Product: Value 2023-2028
Table 133 Vending Forecasts by Product: % Value Growth 2023-2028

RETAIL E-COMMERCE IN FINLANDKEY DATA FINDINGS

2023 DEVELOPMENTS

E-commerce picks up as recession bites in Finland
Competitive landscape remains fragmented

PROSPECTS AND OPPORTUNITIES

E-commerce growth to moderate in years ahead
Food e-commerce - impact on e-commerce and offline retail
Returns policies play a crucial role in online retailing

CHANNEL DATA

Table 134 Retail E-Commerce by Channel: Value 2017-2022
Table 135 Retail E-Commerce by Channel: % Value Growth 2017-2022
Table 136 Retail E-Commerce by Product: Value 2017-2022
Table 137 Retail E-Commerce by Product: % Value Growth 2017-2022
Table 138 Retail E-Commerce GBO Company Shares: % Value 2018-2022
Table 139 Retail E-Commerce GBN Brand Shares: % Value 2019-2022
Table 140 Forecast Retail E-Commerce by Channel: Value 2022-2027
Table 141 Forecast Retail E-Commerce by Channel: % Value Growth 2022-2027
Table 142 Forecast Retail E-Commerce by Product: Value 2022-2027
Table 143 Forecast Retail E-Commerce by Product: % Value Growth 2022-2027

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