Analytics, Estonia, Markets and Companies, Retail, Society

Retailers' Union information day speakers said that consumers dictate the number of stores at the Estonian market and they prefer big stores instead of small ones. Since 2010, 7 hypermarkets, 22 supermarkets and 45 small supermarkets have been opened while 209 small grocery stores have been closed at the same time.

Maxima Eesti communicators manager, Retailers Union board member Erkki Erilaid said that there will be more stores in Estonia and the profits of store chains will fall if they even exist.

He said that the expansion of stores is currently connected to economic calculations and is better targeted than years ago, when very fast increase of retail stores took place.

Erilaid noted that five biggest retail chains hold 80% of the Estonian market.

Retailers Union board chairman Raul Puusepp said that as long as more shops are opened in Estonia than closed, there aren’t too many shops in Estonia yet.

In 2013, Estonian retail trade had a record turnover, retail sales grew to 4,592.4 million euros, of which retail sales of food products formed 2,172.8 million euros.