Bonus, Reykjavik

Bónus, an Icelandic supermarket chain renowned for its economical approach, stands as a prominent example of efficient retail management. Owned by Hagar, a subdivision of the Baugur Group, Bónus has established a significant presence with 31 stores across Iceland and an additional seven in the Faroe Islands. The chain's operational model emphasizes cost-effectiveness and simplicity with limited hours, basic shelving, and a centralized fridge, avoiding individual chiller cabinets.

The inception of Bónus in April 1989 marked a pivotal moment in Icelandic retail history. Founded by Jón Ásgeir Jóhannesson and his father, Jóhannes Jónsson, the first store was opened on Skútuvogur street in Reykjavík. The rapid expansion of Bónus in the ensuing years was remarkable, quickly elevating it to the status of Iceland's largest supermarket chain.

The early 1990s were a period of significant growth and strategic partnerships for Bónus. In 1992, the chain formed a pivotal alliance when Hagkaup, another Icelandic supermarket, acquired a 50% stake in Bónus. This partnership led to the establishment of Baugur, a joint purchasing company, in 1993. Further expanding its geographical footprint, Bónus ventured beyond Iceland in 1994, making its first investment in the Faroe Islands.

Today, Bónus, along with Hagkaup, operates under the umbrella of the Baugur Group's Hagar division. This corporate structure has facilitated a synergistic approach to retail management, combining the strengths of both supermarket chains. The continued success of Bónus is a testament to the efficacy of its operational model and its adaptability in the dynamic retail landscape.