Iceland is the relatively newest grocery chain in Norway. It goes without saying that the company is growing in strength, as evidenced by the planning to open three new stores. What do food industry experts say?
Iceland is growing stronger!
Norway's newest grocery chain is now opening three new stores! Residents of Oslo and the surrounding area will be able to start shopping in a new place. The opening of the stores is planned for March and April 2019. The exact locations of the stores are already known, one will be located in the center of Stovner, the other in St. Hanshaugen and the third in Bekkestua in the municipality of Bærum.
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Norway is a good place to develop
The reason why the company Iceland sees no contraindications to further development in Norway is the fact that the Christmas and autumn period provided it with a large profit. Iceland CEO Geir Olav Opheim says in an interview with Nettavisen: “We are ready to take new actions. Last year we gained knowledge about the purchasing preferences of Norwegians.”
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Three and more
The information provided about the three new stores and their locations is just the beginning. Iceland plans to launch in Norway this year opening five to seven stores. Until now, the chain had only two stores in Larvik and Asker. The new stores will be created based on last year's experience with customers from Norway. First of all, they will be larger and the assortment will be wider. Iceland's CEO, Opheim, announces that the number of stores they intend to open in Norway will be much larger. At the moment, the network is focused on the eastern part of the country.
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What do the experts say?
It turns out that food industry experts do not predict much success for the Iceland network. According to them, the company is developing too slowly. In addition, according to people from the industry, only with twelve stores in the vicinity of Oslo can you speak of any success. A good example is the Normal chain, which appeared in Norway in 2017, and today they have as many as 44 stores.
A slow start does not mean a disaster
Iceland's CEO Opheim does not believe that a slow start is always meant to be a failure in business. As he himself says in an interview with Nettavisen: “We are starting the investment safely and under control. We don't think a slow start can be detrimental overall.”
