![Consumers: Inflation boosts private label sales](https://www.ot.gr/wp-content/uploads/2022/07/peter-bond-KfvknMhkmw0-unsplash-768x512-1.jpg)
Private label products continue to occupy significant space in consumers‘ cupboards and fridges. The growing trend of private label products seems to attract more and more Greeks.
Vulnerable households, as well as a growing segment of the middle class, are trying to make ends meet by cutting back on all items. According to NielsenIQ, in the context of inflationary pressures, consumers are trying to save money, increasingly choosing private label products, which are generally sold at lower prices than branded products.
Intensifying promotional activities
This, according to NielsenIQ, has led to an increase in their market share, compared to 2021, from +12.7 to +13.6%. Also, retailers and suppliers also seek to maintain or even increase their competitiveness by intensifying in-store promotional activity, which has reached +66.4% for all fast moving consumer goods (FMCGs).
Total sales
As the NielsenIQ research reveals, a 0.9% increase was seen in total sales in value of the organized food retail trade (including food stores over 100 sq.m., mainland Greece & Crete, excluding the islands and the discount outlet market) in the first half of 2022 (YTD data to 19 June 2022), compared to the corresponding period last year.
Growth comes solely from increased prices, as demand shows a negative trend for all major categories, as coded by the company.
Categories
With reference to the course of selected FMCG categories, the trend in value of +0.7% that they note is mainly driven by the categories of food & beverages, which also present the greatest inflationary pressures, at +4.2 %, resulting in sales volumes falling by -2.7%.
However, the individual categories show completely different dynamics.
Indicatively, the categories of olive oil, packaged cheese, and flour are mentioned, the prices of which have increased on average by +22.7%, +9.6% & +9.1% respectively. According to NielsenIQ, the months of May and June have particularly contributed to this increase, which have shown significantly stronger hikes, compared to the first quarter of the year.
The level of prices for the major categories of household care, as well as personal care, has also increased by +3.4% and +2.1% respectively, with the result that consumption has dropped significantly to a rate of -5.3% & -3.6%, also correspondingly. Among the categories that have seen the highest price increases are aluminum foil (+16.7%), but also diapers (+9.0%).
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
Latest News
![Gov’t Eyes Return of Power Subsidies Amid Spike in Rates](https://www.ot.gr/wp-content/uploads/2024/07/power-lines-2048x1365-1-600x400.jpg)
Gov’t Eyes Return of Power Subsidies Amid Spike in Rates
According to reports, the government will resume an electricity subsidization program, given that forecasts cite disruptions – i.e. higher rates
![ELSTAT: 6.3% Increase in Output Price Index for Agriculture and Livestock](https://www.ot.gr/wp-content/uploads/2024/07/ot_georg_PROIONTA_money-1-600x352.png)
ELSTAT: 6.3% Increase in Output Price Index for Agriculture and Livestock
The 6.3% rise in May 2024 is largely driven by an 8.8% increase in the crop output group, particularly due to changes in olive oil prices, and a 0.5% increase in the animal output group.
![Balkans Blackout Highlights Climate Threats to Power Grids](https://www.ot.gr/wp-content/uploads/2024/07/blackout-1-600x457.png)
Balkans Blackout Highlights Climate Threats to Power Grids
The surge in electricity demand during the heat wave and the power deficit in Balkan markets have driven up prices in the Greek wholesale electricity market.
![Greece in Top 4 Destinations Favored by European Tourists](https://www.ot.gr/wp-content/uploads/2021/06/ploio-600x400.jpg)
Greece in Top 4 Destinations Favored by European Tourists
Greece was selected by 5.9% of respondents who were asked where they would vacation this year, up from 5.4% in the same survey last year
![Scope Affirms Greece’s BBB- Ratings; Revises Outlook to Positive](https://www.ot.gr/wp-content/uploads/2024/06/euros-2048x1365-1-600x400.jpg)
Scope Affirms Greece’s BBB- Ratings; Revises Outlook to Positive
The international ratings firm raised Greece to investment grade in early August 2023
![First Seaplane Test Flights to Skopelos, Alonissos, Skyros](https://www.ot.gr/wp-content/uploads/2024/06/hellenic-seaplanes-pilotikes-ptiseis-ydatino-pedio-lavriou-600x450.jpeg)
First Seaplane Test Flights to Skopelos, Alonissos, Skyros
After decades of on-again, off-again efforts to schedule regular seaplane routes to Greece's numerous island and coastal destinations the prospect now appears within sight
![ELSTAT- Overall Import Price Index for May 2024 up 2.8% y-o-y](https://www.ot.gr/wp-content/uploads/2023/08/unnamed-41.jpg)
ELSTAT- Overall Import Price Index for May 2024 up 2.8% y-o-y
The same price index had decreased 20.8% from May 2022 to May 2023
![Over 7 in 10 Employees Feel Their Contributions Are Not Appreciated](https://www.ot.gr/wp-content/uploads/2024/06/ergasia-ergazomenos-600x300.jpg)
Over 7 in 10 Employees Feel Their Contributions Are Not Appreciated
Specifically, the option "Subjective opinions are prioritized over objective data" ranked highest in importance for young employees, with a score of 3.89 out of 4
![OECD: Job Vacancies on the Rise in Greece](https://www.ot.gr/wp-content/uploads/2024/07/ergasiabusinness-768x556-1-1-600x434.jpeg)
OECD: Job Vacancies on the Rise in Greece
By the fourth quarter of 2023, job vacancies per unemployed person had risen by more than 4, with the index reaching 446 units compared to 100 units in late 2019
![OTE Group: FTTH Program Advancing in Semi-Urban and Rural Areas of Greece](https://www.ot.gr/wp-content/uploads/2024/05/ΟΤΕ-Group_1-600x450.jpg)
OTE Group: FTTH Program Advancing in Semi-Urban and Rural Areas of Greece
This initiative will provide ultra-fast internet speeds of up to 1Gbps to over 350,000 households and businesses in semi-urban and rural areas across the country