ECONOMY

Beer sales buck alcoholic drinks market trend

Beer is showing robust resistance to the overall decline in the alcoholic beverages market in Greece, the latest statistics have shown.

Beer sales posted an increase in the first seven months of the year both in the so-called warm market (supermarkets, small retail points etc) and the cold market (restaurants, entertainment venues etc). Given that the data do not include the rest of the summer, it is possible that the rise in beer sales will be far greater for the whole of the year thanks to the country’s record tourism arrivals.

IRI research data showed beer market turnover in the year to end-July to have reached 123.4 million euros at retail chains and small sales points (such as kiosks), recording 1.4 percent growth from the same period in 2013.

There was also a 3.2 percent increase in sales volume, which reached 58.1 million liters.

In addition, there was a remarkable 1.1 percent yearly rise in consumption at catering establishments, in contrast to the rest of the alcohol market.

Besides tourism, the market’s expansion is attributed to the lower prices in comparison with the other alcoholic drinks, to the development of a great variety of brands with a broad price range, as well as the increase in consumption at home as a result of people reining in their nights out since the start of the economic crisis.

IRI account manager Nikolaos Skaros commented that the rise in sales is mostly attributed to the strengthening of cheaper brands and the rise in promotional activity.

Price plays a key role in Greeks’ preferences, especially during a financial crisis, hence the rise in sales of cheaper-brand beer and supermarket brands.