Value for money
Rising food and energy prices combined with higher interest rates contributed to a marked increase in price consciousness during the year, as well as increased demand for low price and discounted products.
During the year both ICA Sweden and Rimi Baltic intensified efforts to ensure they are providing high value for money and attractive prices. This included lowering prices on basic goods and more discounts offered both in store and online. Special efforts were made to offer attractive prices on fruit and vegetables. ICA Sweden worked on this in close cooperation with the independent ICA retailers.
Continued investment in private label products
Private label products play an important role in efforts to offer an assortment with high value for money. The private label products offer benefits for customers, stores and pharmacies alike. They create a wide and unique assortment while also promoting good profitability.
Within ICA Sweden, Rimi Baltic and Apotek Hjärtat the offering has been expanded and supplemented to include even more options. There has been a particular emphasis on the low price segment.
Double social responsibility
Inflation and the high energy prices impact not only consumers and customers but farmers and food producers as well. Extensive initiatives have been under way for a long time within both ICA Sweden and Rimi Baltic aimed at supporting local food production and assisting local suppliers in various ways. These efforts were further intensified in 2022. This essentially involves standing up for and safeguarding a strong agricultural sector and stable domestic food production. ICA and Rimi Baltic, as major actors, have vital roles to play and an important responsibility in this regard.