The sales in organized food retail trade (food stores over 100 sq.m., mainland Greece & Crete, excluding the islands) recorded a 9.2% increase in the 9-month period 2023 compared to the corresponding period last year, based on NielsenIQ (YTD data to October 1, 2023).
Private label products are gaining more and more ground
In this highly inflationary environment the share of private label products continues its upward trajectory and rose to 24.8% in the nine months from 24.4% at the end of 2022, with more and more consumers believing that the quality of these products is improving.
At the same time, manufacturers and retailers are trying to become even more competitive, further intensifying their promotion campaigns, from 67.9% at the end of last year to 69.1%. The purchasing behavior of Greeks seems to be significantly influenced by this strong promotional activity, as 1 in 2 stated that they may change their choice not only at the product level, but even at the store level, in order to achieve the best purchase.
