The Greek Finance Ministry will table legislation within the next two weeks halving the fees for POS transactions, MInister Kostis Hatzidakis said on Tuesday.
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AB Vassilopoulos is following up its ‘cohabitation’ deal with Holland & Barrett and Pepco, with agreements with food service chains.
Public Power Corporation (PPC) on Wednesday announced the completion of the acquisition of the Kotsovolos chain of electrical and electronic goods from Currys Plc through which it will significantly accelerate its transformation into an integrated provider of products and services in the retail market.
Retail commerce turnover in the first quarter of 2024 was disappointing, according to traders’ estimates.
The government is redesigning the e-katanalotis platform so that the consumer knows the exact cost of the products they want to buy at supermarkets around their home and where they will find the cheapest prices, Development Minister Kostas Skrekas said on Thursday speaking to ANT1 TV.
Greek consumers are increasingly turning to private label products as they strive to lower their supermarket bills in the face of persistently high prices, according to an annual phone survey conducted in January 2024 by the Marketing Lab of the Athens University of Economics and Business (AUEB), using a random sample of 1880 households.
The Lenten Basket – with lower prices of goods consumed during the period of Lent – will be available from Wednesday, March 13 until May 4, according to the ministerial decision signed on Tuesday by Development Minister Kostas Skrekas.
The Development Ministry is seeking to assign the role of “Big Brother” for 15,000 product codes to the e-katanalotis market monitoring platform.
Since Friday, infant formula has been between 5% and 16% cheaper than it was up until Thursday, while a series of other commodities also saw their retail prices drop as a result of the ceiling imposed on gross profit margins by the Development Ministry.
Development Minister Kostas Skrekas pledged on Saturday that the government will take more measures to tackle the high retail consumer prices.
Speaking on the government’s decision to reduce inflated prices on certain supermarket goods on Friday, Development Minister Kostas Skrekas said that the measure will be permanent and that it tackles a decades-long malaise.
Retail sales volume increased by just 0.7% in December 2023, the month with the highest consumer demand due to the Christmas and New Year holidays, compared to December 2022.
Measures combating rising prices will be implemented across 3,000 consumer products from Friday, March 1.
Large supermarket companies are now fighting the battle for greater market shares in hypermarkets, as contrary to forecasts that this category would suffer due to inflationary pressures, it is growing at a much higher rate than the overall growth in the sector.
The measure banning special offers on retail products whose prices have been hiked is being extended to more products.
Consumers in Greece spent a billion euros more at supermarkets last year compared to 2022, not so much to buy a lot more things, but because of inflation.
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