Supermarket turnover continues to be boosted by inflation in the 11 months January-November 2023 as consumers make cheaper choices and increasingly turn to private label products.

According to the data of the research company Circana (formerly IRI) in the 11th month the value of the sales of the consumer goods market reached at 8.188 billion euros against 7.477 billion euros in the corresponding period last year, increased by 9.5%, of which 6.239 billion euros concern the food category. In the same time period, the volume of sales increased by 2.2% compared to the same period last year.

Private label products continue their dynamic course, according to the same figures. Specifically, PL’s share in value the 11th month of January – November, including the sales of Lidl Hellas, it was formed at 26.3% from 25.8% in the corresponding period of 2022 with the growth rate being 11.6%, when at the same time the growth rate for branded products is 8.8%. In food, in fact, the share of private label products is slightly higher at 26.8% from 26.4% in the corresponding period of 2022. In the personal hygiene and beauty category, the share of private label products is 20.9%, while in the household category it reaches 25.6%.

Also, the intensity of offers on the shelves of supermarket chains is increased, which is mainly found in the two major categories of consumer goods, food and home care products. In the first category, the percentage of turnover that came from promotional increased to 24.8% and in the second to 25.3%. In total, the turnover of fast-moving goods made available under tender regime increased to 25% between January and November.

With reference to the three major categories of fast-moving consumer goods, Circana’s data shows that in packaged foods the sales value increased by 9.5%, in personal hygiene and beauty products by 9.1% and in detergents/cleaners by 9.7%. At the same time, sales volume in packaged foods increased by 2.3%, in personal care and beauty products by 1.7% and in detergents/cleaners by 0.5%.

With regard to the 11 main product categories, on January 11, November 2023, an increase in sales volume was recorded in nine categories, namely packaged foods (0.4%), snacks (4.7%), dairy products (2, 9%), in non-alcoholic beverages (4.7%), in alcoholic beverages (4.8%), in personal care and beauty products (1.7%), in personal hygiene products (1.8%), in detergents & household cleaners (0.2%) and other household items (0.7%). On the contrary, a decrease in sales volume was noted in frozen foods (0.2%) and cooking materials (2%).

The champions of price increases in the 11th month are detergents and cleaners with price increases reaching 11.6%. This is followed by cooking materials with price increases of 9.4%, snacks with price increases of 8.5% and frozen foods with price increases of 8.3%. The smallest price increases during the 11th month compared to the corresponding period last year were recorded in alcoholic beverages (3.3%).

The 11-month figures also show that consumers trust very small stores (up to 400 sq.m.). In these stores it is recorded turnover increase (14.7%) while their total share in the turnover of supermarkets is 11.6%. In supermarkets (over 2,500 sq.m.) a turnover increase of 13.5% was recorded with a share of 11.5%, while in medium-sized stores (400 to 1,000 sq.m.) a turnover increase of 9.8% with a share of in total sales to be 33.5%. Also, a 7% increase was recorded in large stores (1,000 to 2,500 sq.m.), in which 43.5% of the total turnover took place.

Regarding the geographical regions of the country, Crete shows the biggest increase in sales (16.9%). Followed by Peloponnese (11.3%), Northern Greece (11.1%), Central Greece (9.1%), Thessaloniki (8.6%) and Attica (8%).