Thanks to rising incomes and declining unemployment, combined with the premiumisation trend, the value of the average grocery shopping trip in Slovakia rose over the review period. Supermarkets benefited from the positive economic climate, despite strengthening competition, arising especially from discounters and convenience stores.
Grocery retailing has seen a dynamic shift in light of discounters growth, changing consumer preferences and lifestyles in recent years. In the face of growing competition, supermarkets recognised the need to modernise and digitalise in order to maintain and expand their customer bases.
Thanks to its very dense regional coverage, supermarkets will remain the major channel in grocery retailing in Slovakia for the foreseeable future. Value growth over the forecast period is expected to be similar to that over the review period.
In 2018, Billa ranked behind traditional leader Coop Jednota Slovensko. Billa entered Slovakia in 1993 and has since significantly grown its operations by investing in opening new outlets and modernisation of existing stores.
Discounters and convenience stores pose growing competition to supermarkets across the country. Convenience stores capitalise on growing demand for convenience as, thanks to their smaller format, they are often located in areas where it would not be profitable for supermarkets.
With the opening of a new supermarket concept Kraj in 2018, Terno Real Estate looked to capitalise on growing demand for local products, which enjoy a high level of trust among consumers. Although similar concepts are present in convenience stores, this is the first supermarket to build a brand around offering local products.
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