Mathem and Axfood winning online grocery market share in Sweden
2022 was a year of decline for the online grocery market in Sweden. As the market declined, some players could win market share because they fell less than others.
The online pure-player Mathem saw its revenues decline (Last Twelve Months until Q3/2022) by -8,5%. This was the smallest decline in the market. Mathem was followed by Axfood, which saw online revenues decline by -14,4%.
Mathem and Axfood declined less than the overall market, which saw revenues decrease by -16,8%.
The drop in the market was incredibly steep for the Click & Collect services, which declined by -22,7%. Home delivery revenues came down by only -10,8%.
The significant drop in Click & Collect is probably one reason for the dramatic decline of ICA's online revenues: -23,9%. For years ICA has been the dominant player online, winning market share by growing faster than its peers. During the early parts of the pandemic, ICA was the one who was the fastest to open up new Click & Collect locations.
In 2020 ICA's online revenues were 75% bigger than Axfood's. In 2022 ICA was only 47% bigger.
Mathem, offering only home delivery, has gained during the market decline as home delivery has declined less than the Click & Collect services.
