Retail commerce turnover in Greece up 13.2% in Q1

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.

Consumption of milk is in further decline this year

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.

Metro to invest 50 mln euros

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.

M&As in the food industry

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.

Inflation also hurts e-grocers

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.

Shoppers opting for private label products

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.

Private-label products grow

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.

Easter shopping hours in Athens announced

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.

Retailers are omnichanneling

More and more retailers are increasingly employing the so-called omnichannel strategy, utilizing modern technology means such as voice orders, simulators and chatbots.