A year after opening the first branches, the discounter Lidl has drawn a positive conclusion from its market entry in Latvia. According to the company, the markets of the German retail giant are among the three most visited food chains in the Baltic EU country. Accordingly, 39 percent of buyers have already visited a Lidl market. It is the most important daily grocery store for 11 percent of shoppers, the company said on Friday, citing data from market research firm NielsenIQ.
"We had a great first year of operation in Latvia and see very positive prospects for further development, which we confirm by opening new branches in Latvia"Lidl’s Latvia boss Jakob Josefsson was quoted in a statement.
Lidl opened its first 15 branches in Latvia on October 7, 2021, to great public interest. The discounter had invested 200 million euros to enter the market and created almost 2,000 new jobs. Lidl now operates 19 stores in the Baltic state with 1.9 million inhabitants and, according to the information, intends to open its 20th store shortly.
Latvia was the second Baltic country where Lidl became active. The discounter entered the Lithuanian market in 2016, followed by Estonia in spring 2022. (dpa)