Supermarket expenditure in Greece has slumped almost 15 percent within two years, as according to data presented on Wednesday by MRB Hellas chief executive Dimitris Mavros, average monthly spending per household dropped from 280 euros in 2015 to 239 euros this year.
Constantly shrinking disposable incomes and the fact Greek consumers have evolved into bargain hunters, as trained by the retailers’ offers and suppliers, have resulted in ever decreasing spending by consumers and profit margins for supermarkets.
The Shopperhood Study that Mavros presented at the 12th ECR Hellas Conference yesterday also showed that Greek consumers have not only reduced the frequency of their supermarket visits each month (nine today against 10 in 2015), they also spend less on each trip: 26.50 euros against 28 euros two years ago.
A notable 36 percent of consumers also told researchers that they no longer bother to take a shopping list to the supermarket because the few items they do intend to buy are so easy to memorize. Two out of five (41.6 percent) said they are ready to cut their purchases (not including food) further, while 22.6 percent said they are even prepared to cut down further on food shopping.