Greek supermarkets are experiencing a boom, with sales surging by 3.5% in the first ten months of 2024 compared to the same period last year.
The growth, reaching nearly €10 billion, highlights the resilience of the retail sector amidst economic challenges and evolving consumer habits.
One of the most striking trends is the growing popularity of private-label products, often seen as more affordable alternatives to big brands. These products now account for over a quarter of all supermarket sales, with food items leading the way.
The shift suggests that Greek shoppers are increasingly prioritizing value and cost-effectiveness in their grocery baskets.
Interestingly, smaller supermarkets are seeing the biggest gains, with sales up by over 6% in stores under 400 square meters.
This indicates a possible shift in consumer preference towards more convenient, local shopping experiences.
Larger supermarkets are also performing well, with sales increasing by 4.4%.
Certain product categories are driving this growth. Packaged food sales have risen by 4.5%, while snacks, dairy, and frozen foods have also seen significant increases. Beverages, both alcoholic and non-alcoholic, are proving popular with consumers, showing strong growth of over 7%.
The positive trend in the supermarket sector underscores the adaptability of both consumers and retailers. As shoppers seek out value and convenience, supermarkets are responding with a wider range of private-label options and promotional campaigns.
This dynamic reflects a changing retail landscape where affordability and accessibility are key.