The supermarket sector in Greece expects to continue its market concentration that has been going on for seven years now. This concentration will take place on two levels: first, through the acquisition of small and medium-sized chains by larger ones, and, second, via their expansion into activities currently dominated by small stores such as butchers and bakeries, as well as food service outlets.
“In the next three years, small and medium-sized chains will remain under pressure. Some will be sold off and others will shut down,” says Aristotelis Panteliadis, managing director at Metro, which owns Mymarket and Metro Cash & Carry.
Large and medium-sized players are expected to position themselves in food and catering business activities where they still trail traditional outlets. “This is a global trend for supermarkets, particularly regarding food service,” says Dick Boer, president and chief executive officer of the Delhaize group, which controls AB Vassilopoulos in Greece.
Supermarkets are certain to make a serious effort to increase their share of an industry with a total annual turnover of some 12.7 billion euros.