Cooperative Consum Surges to Record Profits with Cost Savings, Innovative Investments and Commitment to Sustainability

Consum, a cooperative based in Valencia, reported a turnover of 4,388.7 million euros last year, an increase of 13.6% from the previous year. The company’s results grew by 75% to reach 101.1 million euros due to cost containment efforts and significant savings on the energy bill, estimated at 40 million euros.

Consum also saw a 10.2% increase in sales and ranked sixth in national distribution companies by area with a total of 933 supermarkets across six autonomous communities. The supermarket chain employs 21,216 workers.

The general director of Consum, Antonio Rodríguez, highlighted the competitive efforts and successful energy cost savings as the factors driving profit growth. Despite challenges such as high inflation and increasing costs in the market, he expressed confidence in maintaining competitive prices for customers.

Investments were made by Consum in 2023 for new supermarket openings and renovations to the tune of 167 million euros. The company plans to continue this pace in 2024 with further investments in innovation projects such as digital technologies and the opening of 50 new supermarkets.

Regarding online sales, Consum currently represents only 1.7% of the market but has plans for future growth initiatives that will see them expand their presence online. They prioritize sourcing from national suppliers with over 80% of fresh food products being of national origin.

Rodríguez also emphasized Consum’s focus on sustainability initiatives such as using renewable energy sources and installing photovoltaic panels in supermarkets to reduce their carbon footprint while still meeting customer demands for quality produce at affordable prices.

Despite these challenges, Rodríguez expressed optimism about Consum’s future performance and their ability to adapt to changing market conditions while maintaining their commitment to providing quality products at reasonable prices for customers throughout Spain.

Consum has been able to maintain its position as a leading player in the Spanish grocery market due to its ability to innovate while keeping costs low through strategic partnerships and efficient operations.

Consum is committed to continuing its expansion efforts while investing heavily in technology and sustainable practices that align with its core values and mission.

As Rodríguez puts it: “We are excited about our future prospects and look forward to continuing our growth journey as we remain committed to providing our customers with quality products at affordable prices.”