A growing trend in small-scale retail combines the features of a grocery store, café, bakery, and newsstand under one roof. This concept boasts extended hours, sometimes open 24/7, resulting in revenues exceeding 2 billion euros.
The strategic move by efood to expand into physical stores in small-scale retail confirms that the turnover of the ‘neighborhood’ is becoming a target not only for major players in the supermarket industry but also for digital ordering and delivery platforms.
The ‘efood local,’ as the new stores are named, offer a unique proposition, with a focus on food, while also featuring product categories such as wine, tobacco, and mini-market items, primarily groceries and snacks.
The first two efood local stores will open in central Athens neighborhoods in the second quarter of 2024, with the first store’s launch expected in early summer. These stores will offer extended operating hours, including some open 24/7, following the convenience store model.
Notably, efood, which combines dining, café, and small-scale retail, has been running in Northern Greece since 2003 by the Today Group.
Food to go is identified as one of the top trends for 2024 in the grocery sector by McKinsey one of the biggest management consultancy firms operating in Greece.
Meanwhile, the bustling turnover of neighborhood stores doesn’t go unnoticed by major players, as chains like AB Vassilopoulos, My Market, and Kritikos expand their footprint using the franchise model, with a traditional player in the convenience store sector being OK! Anytime Markets.
It’s noteworthy that in 2023, small stores in the organized retail sector saw the highest sales growth compared to other types of stores.
