Supermarket sales grew 9.1% in the first four months of 2023 but volumes fell by 3.5% in the same period, a report by NielsenIQ said on Tuesday.
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Consumers are increasingly turning to private-label products at supermarkets, as food inflation remains high.
Retail trade turnover increased by 13.2% in the first quarter of 2023 compared to the corresponding period last year, as it amounted to 14.88 billion euros, against €13.15 billion in January-March 2022.
After operating in Cyprus for four years, Greek confectionery chain Terkenlis has made the decision to close its doors there.
The soaring retail prices of milk have led to a further decline in the consumption of the commodity this year, by 5.3% in sales volume terms in the year to April, following the drop registered for the first time in 2022.
In 95.69% of the products included in the “Household Basket,” the prices decreased or remained stable in the 28th week since the government implemented the measure in the face of inflation.
Supermarket chain Metro is this year planning for investments of at least 50 million euros, which concern the expansion of the store network, storage areas, and the installation of photovoltaic systems.
Prices for 93.83% of the products included in the “Household Basket” have decreased or remained the same in the 27th week of the measure’s implementation (May 3-9).
Nine business deals for acquisitions in the food and beverages and organized food retail sectors have already been sealed in just four months in 2023, an indication of the momentum these sectors maintain in the Greek economy.
The electronic supermarket basket is getting smaller and smaller, as price increases lead consumers to order fewer products, the same as what happens when they visit a physical store.
Piraeus Tower SA and Spanish-based Inditex Group have signed an agreement for the lease of the Piraeus Tower.
Based on the Cypriot government’s timeline, the introduction of e-kalathi, a new digital platform for monitoring retail product prices, is expected to take place around early 2024.
The decline in supermarket sales volume has continued unabated in 2023, with data from market research firms showing that this drop reached 1.7% in the first quarter of the year.
The share of private-label products reached historic highs in the first two months of 2023, with consumers looking for cheaper solutions due to inflation, while their participation in the Household Basket measure has been considerable.
The Athens Traders Association announced on Friday the proposed working hours for Athens stores during the Easter holiday season, which will start on Thursday April 6.
More and more retailers are increasingly employing the so-called omnichannel strategy, utilizing modern technology means such as voice orders, simulators and chatbots.
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