A fierce battle over prices failed to slow the growth momentum of Greece’s organized food retail sector, which continued to expand during the first five months of the year as consumers prioritized essential purchases over discretionary spending.
According to market research firm Circana, supermarket chains generated nearly 350 million euros in additional revenue during the January-May period, with sales rising 6.4% to 5.753 billion euros from 5.409 billion euros a year earlier.
Despite inflation remaining a key concern for households, sales growth was once again driven primarily by higher volumes rather than price increases.
In the fast-moving consumer goods (FMCG) market, sales volumes measured in units increased by 3.9%, while the average price per item rose by 1.7%.
The gap between value growth and volume growth narrowed significantly compared with previous years, reflecting the growing use of promotions. Discounted products accounted for 26.4% of total sales, helping contain the final prices paid by consumers.
The performance of the first five months reinforces a broader trend seen in recent years, with households reducing discretionary spending in areas such as dining out and entertainment while directing a larger share of their budgets toward essential goods.
Food Categories Lead Growth
Food products continued to absorb the largest share of consumer spending. Sales of packaged food rose 6.2% in value terms and 3.8% in volume, while personal care and household products recorded more modest growth of around 3.2%-3.3% in value and between 2.8% and 3.4% in volume.
Among fresh products sold by weight, sales value increased by 8.8%, driven by fresh vegetables, meat and fish, while cold cuts and dairy products posted slight declines.
Private-label products also continued to gain ground as consumers sought lower-cost alternatives. Sales of supermarket own-brand products rose 6.3%, outpacing branded goods and increasing their market share to 27.4%, particularly in core food categories as well as paper and cleaning products.
Online Growth Slows
Growth in online supermarket sales remained subdued during the first five months of the year. E-commerce sales reached 133 million euros, up just 1% from the corresponding period last year.
The result points to the maturation of the digital channel, as growth stemmed from higher spending per order rather than an increase in transaction volumes.
Online orders declined by 3%, but the average basket value rose 5%, supported by a 3% increase in the number of items purchased per order and a 2% rise in the average price per item.
Fresh food remained the main growth driver in the online channel, accounting for 35% of internet sales and posting a 3% increase, making it the only major category to contribute positively to overall growth.
By contrast, packaged foods and household care products were largely flat, while beverages, soft drinks and bottled water declined by 3%. Products for babies and children recorded the sharpest fall, down 10%.
Pet care products were among the standout performers, rising 11%, although they still represent only 1% of the online supermarket market.
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