Greek supermarket sales jump 4.6% in the first nine months of 2022
According to a NielsenIQ's recently published report.
Increased sales in value by 4.6% was recorded by the organized food retail market (food stores over 100 sqm, mainland Greece & Crete, excluding the islands) during the nine months of the current fiscal year (YTD data up to 02 October 2022) , compared to the corresponding period last year.
According to a NielsenIQ's recently published report, this trend is driven by food, both fresh (+6.6%) and standardized (+5.5%), as the bazaar category shows zero growth, while respectively, the large FMCG categories of household use, as well as personal care, show significantly more moderate sales growth in value, at +1.0% and +0.6% respectively.
With reference to the unit sales of the above super-categories, they show a negative trend as a whole, which suggests that the growth of the market is inflationary and therefore not due to increased demand/consumption, at least at the nine-month level.
At the same time, the consumer is still concerned about prices, feeling more than ever that they are on the rise, with a clear increase in the percentage of those reporting this (from 72% in 2020 to 99% in 2022), based on latest data from NielsenIQ's Shopper Trends survey.
Indicative of the above is the fact that the course of the share of private label products continues its upward course, having reached 14.4% (excluding the discount channel), an upward trend that started from mid-2021 onwards, so and more general inflationary trends began to emerge in the market. At the same time, the promotional intensity for branded products has been further strengthened, which has reached 66.5%, in an effort to contain prices both by suppliers and by the different retail chains, in the context of the very competitive environment, in which they move.