By Dimitra Manifava

The war of special offers raging between Greek supermarkets, including promotional activities in association with suppliers and customer reward programs, has worked out to the benefit of consumers to the tune of 250 million euros in 2012, a survey conducted by the Institute of Retail Consumer Goods (IELKA) has found.

The survey found that over the last couple of years offers have increased considerably in size, duration and form, with the benefits to consumers amounting to savings of some 1.4 percent on their original supermarket expenditures.

An estimated 38 percent of all price reductions at supermarkets last year were made via offers and promotional activities, the institute suggests.

The products most affected by the war for more business were detergents, personal hygiene products, pasta and yogurt.

Promotional offers are expected to grow further in the coming months as major retailers are trying to hold on to their slice of an ever-shrinking pie.