ECONOMY

Small retailers’ turnover up too

small-retailers-turnover-up-too

Greece’s three main supermarket chains, Sklavenitis, AB Vassilopoulos and MyMarket, appear to be the biggest winners from the massive rise in turnover in organized food retail. However, small retailers, minimarkets and grocers were among the winners, demonstrating quick reflexes in response to the new needs created by the coronavirus lockdown.

Between the very large players and the small ones, the medium-sized chains felt the pressure, while also being eyed for possible takeover by the market leaders. As in the recent debt crisis of the 2010s, the further concentration of the market is expected to be one of the many consequences of the upcoming recession.

This week Nielsen researchers presented their statistics on the retail market for the year to May 17, with the three big chains carving out an extra 1.3 percentage points to secure a market share of 65.6% between them, amounting to 2.33 billion euros. However, minimarkets also benefited, as their turnover increased 7.6 percent to €525.86 million, thanks to their proximity to residential areas when traveling was restricted and to their flexibility in terms of opening hours and home deliveries.