![Greek supermarkets: Market grows by 4.6% in the first nine months of 2022 due to inflation](https://www.ot.gr/wp-content/uploads/2022/10/supermarket-gf685a6180_1920.jpg)
Increased sales in value by 4.6% were recorded by the organized food retail market (food stores over 100 m2, on mainland Greece & Crete, excluding the islands) in the nine months of 2022 (YTD data up to 02 October 2022), in comparison to the corresponding period last year. As the survey showed, there were large price increases in bread, pasta, oils and paper products.
According to NielsenIQ, this trend is driven by food, both fresh (+6.6%) and standardized (+5.5%), as the bazaar category shows zero growth, while large FMCG (Fast Moving Consumer Goods) categories of household use, as well as personal care show significantly more moderate sales growth in value, at +1.0% and +0.6% respectively.
Inflationary pressures
The unit sales of the above categories show am overall negative trend, which suggests that the growth of the market is inflationary and therefore not due to increased demand/consumption, at least at the nine-month level.
Regarding the different types of stores, the largest growth is shown by the smallest-sized stores (Superettes, 100-400 sq.m.), at +5.7%, which is due, among other things, to the restructuring of the retail trade with the continuous acquisitions of smaller chains or individual stores by the industry’s strongest players, thereby boosting the dynamics of smaller venues.
At the level of geographical regions, tourism seems to have significantly stimulated the purchasing dynamics of the region, at least for the time period under review, with the result that the regions of Crete, as well as the Peloponnese, show the most positive growth trends (+7.4% and + 6.8% respectively).
Price increases
In terms of prices, the spike in inflation has also heavily impacted the performance of some of the largest FMCG categories. Indicatively, and in relation to the corresponding period last year, some of the main categories in the food industry, such as bread and pasta, owe their turnover increase mainly to the increase in their average selling price, which reached 13.0% and 10.1% respectively, while in the case of seed oils the average price of the category increased by 38.9%. The change in the average price in the paper product sector and in all the main categories that make it up was also significant, with the average price of kitchen paper increasing by +15.6%, while for toilet paper this increase amounted to +12 .7%.
Consumer fears
At the same time, consumers are still concerned about prices, feeling more than ever that they are on the rise, with a clear increase in the percentage of those reporting this (from 72% in 2020 to 99% in 2022), based on latest data from NielsenIQ’s Shopper Trends survey. Indicative of the above is the fact that the course of the share of private label products continues its upward course, having reached 14.4% (excluding the discount channel), an upward trend that started from mid-2021 onwards. At the same time, the promotional activities for branded products have been further strengthened, reaching 66.5%, in an effort to contain prices both by suppliers and by the different retail chains, in the context of the very competitive environment they operate in.
![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
![Massive Wildfire Front North of Athens; Evacuations Continue](https://www.ot.gr/wp-content/uploads/2024/08/DSC_0559-600x399.jpg)
Massive Wildfire Front North of Athens; Evacuations Continue
Τhe conflagration in northeast Attica prefecture (greater Athens area) erupted instantaneously amid gusty winds near the township of Varnavas, before spreading south towards Mt. Penteli
![Greek Industrial Production Up by 9.5% in June 2024](https://www.ot.gr/wp-content/uploads/2024/08/industry.jpg)
Greek Industrial Production Up by 9.5% in June 2024
The Overall IPI in June 2023 decreased by 3.0% compared with the corresponding index in June 2022.
![Social Security Fund Employee Arrested for Demanding Bribe](https://www.ot.gr/wp-content/uploads/2024/08/cash-600x338.jpg)
Social Security Fund Employee Arrested for Demanding Bribe
Police said woman, 49, was nabbed 'red-handed' after receiving a folder filled with 4,000€, ostensibly to 'facilitate' the issuance of a disability pension
![Greek Road Tourism Booms, Eyeing Record 2024](https://www.ot.gr/wp-content/uploads/2024/08/gps-navigator-in-the-car-P3ACQVK-1-600x364.jpg)
Greek Road Tourism Booms, Eyeing Record 2024
The Kipoi (Kipi) border station recorded the highest absolute increase, with 457,000 arrivals, an increase of 115,000 or 33.5%.
![Greek Doctors Issue Safety Advice for Vacationers](https://www.ot.gr/wp-content/uploads/2024/08/shutterstock_1061985551-2048x1365-1-600x400.jpg)
Greek Doctors Issue Safety Advice for Vacationers
The Athens Medical Association offers tips to prevent accidents and health problems during the summer holidays.
![Deadline for Self-Employed Professionals to Register for Inter-Bank Payment System Pushed Back a Few Days](https://www.ot.gr/wp-content/uploads/2024/08/vat-2048x1536-1-600x450.jpg)
Deadline for Self-Employed Professionals to Register for Inter-Bank Payment System Pushed Back a Few Days
Greece’s independent tax bureau, AADE, announced the two-day deadline extension this week, given that the previous deadline of Aug. 31 fell on a Saturday
![Capital Economics: Greek GDP Boosted by Tourism](https://www.ot.gr/wp-content/uploads/2024/07/02tourismos10-600x375.jpg)
Capital Economics: Greek GDP Boosted by Tourism
The independent economic research business based in London appears reassuring regarding the effects of climate change on tourist activity.
![Int’l Students Will Soon Need ETIAS for Stays in Europe](https://www.ot.gr/wp-content/uploads/2024/08/shutterstock_620538449-2048x1365-1-600x400.jpg)
Int’l Students Will Soon Need ETIAS for Stays in Europe
Starting next year, foreign nationals planning to study in Europe will be required to present ETIAS approval for entry and short-term stays.
![Ice Cream in Greece Among Europe’s Costliest](https://www.ot.gr/wp-content/uploads/2024/08/ice-cream-@OT-600x400.jpg)
Ice Cream in Greece Among Europe’s Costliest
Ice cream in Greece is becoming a costly pleasure with a liter selling for at least 3.7 euros in 2023, among Europe's most expensive.
![Eurobank Completes Public Offer for Full Acquisition of Hellenic Bank](https://www.ot.gr/wp-content/uploads/2024/08/eurobank-1-600x373.jpg)
Eurobank Completes Public Offer for Full Acquisition of Hellenic Bank
Looking ahead, Eurobank aims to fully integrate Hellenic Bank’s accounting operations, with this process slated to begin in the third quarter of 2024.