After several years of significant growth, supermarket chain Jumbo had to slow down last year. Not only did the revenue decrease for the country’s second-largest supermarket, but the Veghel-based company also lost half a percent of market share.
However, CEO Ton van Veen does not consider this a setback. The nearly 3 percent drop in revenue, down to 10.72 billion euros, is largely attributed to the cessation of tobacco sales in supermarkets: “We were disproportionately affected by this.
Additionally, we paused the opening of new stores last year.” Jumbo mainly invested in lowering prices last year. Van Veen points to a nearly three percent increase when tobacco sales are excluded.
“We have become more competitive by being more attractive to customers. Lowering prices reduces short-term revenue, but that is certainly not a catastrophe.”
Source: NOS