Bónus prepares for competition with Prís in Iceland’s grocery market

Bónus, one of Iceland’s major supermarket chains, is gearing up for competition with the newly opened discount grocery store, Prís, which entered the market yesterday. Björgvin Víkingsson, the CEO of Bónus, expressed excitement about the arrival of Prís in the grocery sector, calling it an exhilarating day as they welcomed a new player willing to challenge their pricing strategy.

Björgvin acknowledged that it remains unclear how Bónus will compete on pricing against Prís, noting the difficulties in predicting whether this competition would lead to reduced prices for consumers. He mentioned that while some products may be priced competitively, Bónus is constrained by its cost structure and cannot go below its purchasing costs. “There will be several items that we cannot chase down in price, but we’re not discouraged and will seek ways to compete effectively.”

He added that while it is too early to disclose any strategies for addressing the competition, Bónus aims to maintain its brand identity and customer loyalty. Björgvin assured that Bónus would continue to adapt and explore options to ensure its competitiveness in the evolving market landscape.

As the market adjusts to this new competition, consumers will be watching closely to see if Bónus’s response will lead to better prices and options for shoppers throughout Iceland.