Brussels / Amsterdam, 22 December 2025 – In one of the biggest shake-ups in European retail history, German discount giant Tedi has officially claimed the crown as the continent’s largest non-food ultra-low-price chain, ending Dutch powerhouse Action’s multi-year reign at the top.
According to the just-released 2025 European Non-Food Hard Discount Report jointly published by the EuroRetail Federation and leading investment banks, the new Top 5 ranking by store count is:
- Tedi (Germany) – ~3,250 stores | Expected 2025 revenue: > €3.8 billion.(Resources from:www.tedi.com)
- Action (Netherlands) – ~2,850 stores | Expected 2025 revenue: €13.8 billion (still highest revenue per store).(Resources from:www.action.com)
- Pepco (Poland) – ~4,600 stores (heavier clothing focus) | ~€2.7 billion.(Resources from:www.pepco.com)
- Kik (Germany) – ~3,550 stores | ~€2.2 billion.(Resources from:www.kik.com)
- Woolworth (Germany, revived) – ~850 stores | Fastest-growing newcomer, targeting 1,500 by 2030.(Resources from:www.woolworth.com)
Download the full 2025 European Non-Food Discount Ranking (PDF)
Tedi and Action store interiors side-by-side – minimalist shelving and “treasure hunt” layout dominate the sector Caption: Tedi (left) vs Action (right) – the battle of Europe’s €1 empires
The “€1 War” Reaches Boiling Point
Tedi seized the lead through lightning expansion in Central and Eastern Europe, adding nearly 400 stores in 2025 alone and entering Slovenia and Croatia for the first time. Meanwhile, Action hit a new milestone by opening its 800th store in France last week and confirmed plans to enter Portugal and Slovakia in 2026.
Action CEO Hajir Hajji told reporters: “We’re not competing with Tedi – we’re competing with inflation.”
Investors Call It the “New Golden Sector”
Private equity owner 3i Group reported that Action delivered 11.8% like-for-like sales growth in the first nine months of 2025, with an industry-leading EBITDA margin of 18.3%. Goldman Sachs now labels Tedi and Action the “European Duopoly” and forecasts the pair will operate more than 7,000 stores combined and generate over €30 billion in annual sales by 2028.
Goldman Sachs: European Non-Food Discount Outlook 2025-2030
Chart showing explosive store growth of Tedi, Action, Pepco and Kik from 2019-2025 Source: Company reports & EuroRetail Federation
Shoppers: “It’s a Weekly Treasure Hunt”
In a typical scene outside an Action store in Lille, France, customer Marie explained: “I come every Wednesday because that’s when new products arrive. Yesterday I got Christmas lights for €0.99 – elsewhere they cost €9.”
The combination of rock-bottom prices and 1,500 rotating “surprise” items each week has turned these chains into essential destinations for millions of budget-conscious European households.
What’s Next?
Both Tedi and Action have their eyes on the still-untapped UK market in 2026-2027. Industry watchers warn that if either giant crosses the Channel, local players such as Primark, B&M, and Poundland could face an existential threat.
The battle for Europe’s €1 empire is only just beginning.
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Photo credits: Action Press Office / Tedi GmbH & Co. KG / Pepco Group Investor Relations Hyperlinks are illustrative – replace with actual sources when publishing