BUSINESS

Growth fails to affect spending in supermarkets

DIMITRA MANIFAVA

TAGS: Economy

Spending in supermarkets remains particularly low, as despite the recovery recorded in certain economic indexes, the effect has not yet trickled down to households so that disposable income for consumption remains limited.

According to the latest survey by the Athens University of Economics and Business on consumer behavior seen by Kathimerini, Greek households spend an average of 278 euros per months in supermarkets, which is marginally higher than last year’s mean rate of 274 euros and significantly lower than the reference level of 300 euros.

The AUEB survey confirms the stagnation of the supermarket sector, as the IRI market survey showed a marginal 0.2 percent increase in turnover in the first couple of months of 2018.

Overflowing supermarket baskets are a thing of the past, the figures show, with just 3.8 percent of consumers saying they spend over 100 euros per visit to a supermarket, down from 6.2 percent a year ago. The vast majority (68.7 percent) say they spend no more than 50 euros per visit, while supermarket trips amount to six per month for 65 percent of shoppers, against an average of 6.8 times in 2017 and 8.5 times in 2016.

Furthermore, over half of the respondents say they restrict themselves to buying the bare essentials when they go shopping.

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