The picture for households has been grim in the last three years due to overall inflation in Greece and soaring prices. In contrast, supermarket chains saw an additional amount of more than 2.2 billion euros flowing into their coffers during the same period.
Data from Circana Greece indicated that during the first eleven months of 2024, the turnover of fast-moving consumer goods sold on supermarket shelves increased by 328 million euros, or 3.1%, compared to the same period in 2023, with the amount reaching 10.87 billion euros.
Given that Circana analysts estimate overall sales in organized retail increased by approximately 3% in 2024, this means that last year closed with a turnover of 12.21 billion euros, up from 11.83 billion euros and 10.75 billion euros in 2023 and 2022 respectively, at a time when inflation had soared to 9.6%.
In fact, based on the data processed by Circana, regarding price trends, the market is expected to show an increase of around 3% in value in 2025, with sales volume moving at a slightly upward trend.
The consumption resilience shown over the past three years amid a tough inflationary crisis can be explained by the diversification in purchasing behavior.
The role of private-label products on supermarket shelves was also impactful on inflation in Greece. It is notable that the growth rate of private label products remained positive, with the category holding a 26.7% share in value, during the first eleven months of 2024, up from 25.8% in 2022.
Meanwhile, promotions and special offers on supermarket shelves have reached a new high of 25.5%, up from 22.5% three years ago.
At the same time, the food category played a crucial role in increasing supermarket profits. In the first eleven months of 2024, food was the only category that showed a positive trend (+4.1%), while personal care items and household cleaning products showed a slight downward trend in sales value (-0.5% and -0.4%, respectively).
