Categories: Market

Coop boss expects prices to rise

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Coop boss Philipp Wyss at the company’s annual media conference in Muttenz BL in February. (archive image)

However, Wyss said in an interview with news portal 20 minuten.ch published on Sunday that the massive spike in inflation is over. “We’ve made discounts on nearly 60 products, from coffee to diapers to cheese. Soon we’ll be lowering prices even more.»

For years, inflation was almost never a problem in this country. “From 2011 to 2021, we only had 2.5 percent of the total—and we even had a minus in food,” Wyss said, looking back. A year of nearly three percent inflation is a big challenge, especially at Coop for buyers. “But we didn’t accept all additional fees from suppliers.”

The Swiss retail business continues to struggle with the shopping tourism of Swiss consumers in neighboring countries. “All in all, it’s down 20 to 30 percent compared to 2019,” Wyss said. But all the shopping tourism is as big as Coop selling all the supermarkets together.

According to Wyss, the group invests approximately CHF 1 billion each year in renovations in its own stores. “By 2025, half of our nearly 1,000 stores should come with a new concept. In the past, the shop was renewed every 20 years, now we are in 10-15 years.” Overall, Wyss is noticing a trend towards smaller stores nearby. (SDA)

Source :Blick

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