Greek consumers are shifting towards private label products
Greek consumers are shifting towards private label products
  Economy  |  Retail  |  Greece  |  Analysis

Greek consumers are shifting towards private label products

A research carried out by the Marketing Laboratory of the Athens University of Economics and Business.
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RE+D magazine
19.03.2024

Private label products (Private Label-PL) are preferred, according to relevant research, by Greek consumers as long as accuracy in basic products on supermarket shelves persists.

According to the research carried out by the Marketing Laboratory of the Athens University of Economics and Business with a telephone poll of a scientifically random sample of 1880 households in January 2024, private label products now represent 36% of the basket from 33% last year.

According to what he reports speaking to the Athenian-Macedonian News Agency, Professor Georgios Baltas, who coordinated the research, "this is the highest percentage we have ever recorded in the 19 years we have been doing the research at the Marketing Laboratory of the Athens University of Economics and Business. The share of private label in the shopping cart is well over 30% of the codes that enter the consumer's basket, that is, well over 3 out of 10 products purchased are private label codes."

At the same time, Greek products also continue to steadily gain a share in the basket. According to Mr. Baltas, "consumer preferences for Greek-made products were not affected by the negative climate of the period. This shows that Greek production is not a more expensive purchasing option and preferences for it are durable over time." 81% of the respondents answered in the context of the survey that when they find Greek products in the supermarket they prefer them to imported ones.

However, this question concerns the consumer's intention and is of course not identical to his final choice which is influenced by multiple factors (availability, offers, etc.). In addition, 66% of the respondents believe that there is a consumer shift towards Greek-made products, 89% state that they want it to be written on the packaging that a product is Greek-made, 65% believe that Greek products have better safety and quality, the 93% believe that preferring Greek products supports the country's production, 83% believe that preferring Greek products helps to reduce unemployment.

From the above data, the consumer movement supporting Made in Greece seems to dominate. Of particular importance is the rational treatment of the issue and the understanding of the importance of supporting domestic products to support production and workers. These are attitudes of maturity and attitudes of solidarity that have now become established in Greek society.