BUSINESS

Momentum for local mini-markets

momentum-for-local-mini-markets

The mini-market industry in Greece is growing rapidly, offering increasing turnover and larger profit margins compared to supermarkets, thereby enjoying fresh growth momentum.

The annual turnover of this sector, which along with kiosks adds up to more than 25,000 stores across Greece, is estimated at 1 billion euros. This could potentially be multiplied, as small retailers add new products and services, practically turning them into department stores and restaurants of sorts.

Last week’s move by German chain Delivery Hero, which owns Efood, to acquire four companies of the Mouchalis group in Greece – including the mini-market and kiosk chain Kiosky’s and the delivery of sweets and wines to convenience stores – illustrates the interest in this particular retail sector.

The German group has actually performed a general model shift in its own chain of small outlets, which will operate as “dark stores.” These are processing points for orders placed through the online platforms it has in 37 countries (in Greece this is done through Efood). Until last June the German chain had 687 such points, which it calls “DMarts.”