Pending opening of F&B sector expected to halve pandemic-related extra turnover of Greece’s super markets

The pandemic’s biggest economic “winners” in Greece, namely, super market chains, may see a large chunk of their profits evaporate in 2021 with the opening of the restaurant and cafe sector, according to market analysts.

Pandemic-related, or “opportunistic” turnover for the entire super market sector in Greece last year has been estimated at an extra 900 million euros.

Nevertheless, Monday, May 3, will mark the opening of the F&B sector in the country, with customers allowed to sit and be served in outdoor dining and seating areas. For the past several months, many establishments offered only take-out and delivery service, while a good portion remained closed.

According to the president of the Athens-based Research Institute of Retail Consumer Goods, Constantinos Macheras, the total retail durable goods sector in Greece is valued at 23 billion euros annually, with the organized commercial sector valued at 11 billion euros, or some 45 percent of the total.

Macheras estimates that 450 million euros of the so-called “opportunistic” turnover will be re-funneled back into regional markets and the F&B in sector 2021.